During the ongoing 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper interactive session with Ministries, Departments, and Agencies, the Committee insisted on a probe into the fund’s operations.
According to the Executive Secretary/Chief Executive Officer of the Fund, Bello Maigari, the fund generated N2.5bn in 2023, but all of it was utilized for various projects across the country, funded by statutory remittances from licenses and permit holders.
In a bid to gain lawmaker’s support, the National Lottery claimed that the N6.2bn generated in 2022 was spent on important sectoral interventions such as education, sports development, social services, public welfare, and disaster management.
However, the Committee expressed concerns over the fund’s spending, with Chairman James Faleke critical of the complete usage of generated funds without remittance.
Faleke emphasized the fund’s obligation to remit 100 percent of its IGR being a fully funded government agency and warned of a status enquiry that would demand an audit of all income and expenses.
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