EFCC recovers over N90 billion debt from lottery operators

Executive Secretary/CEO, National Lottery Trust Fund (NLTF) Tosin Adeyanju has disclosed that the Economic and Financial Crimes Commission (EFCC) is assisting in the recovery of debts owed to the Fund amounting to over N9 billion.

Adeyanju disclosed this on Friday, when he led the NLTF management team on a courtesy visit to the Executive Chairman of the EFCC, Ola Olukoyede at the Commission’s headquarters, in Abuja, the nation’s capital.

He described the recovery as a “major achievement” and said it ensured that the Fund was playing its part in helping the federal government fulfill its promise to provide social and physical infrastructure across the country.

“I wish to thank the EFCC Chairman for the remarkable results of our collaboration in the recovery of unpaid lottery dues to the federal government which has resulted in a significant increase in remittances by lottery operators to the Trust Fund. I must commend and thank you for your leadership and the recovery of over N9 billion to the National Lottery Trust Fund.

“This is a great achievement for us. It ensures that the Trust Fund plays its part in fulfilling President Bola Ahmed Tinubu’s New Hope Agenda in spreading good intentions across the country.”

The NLTF chairman further commended Olukoyede for the results achieved in the anti-corruption fight so far.

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“I am aware that you have recovered over N200 billion and over $58 million in looted funds within the period.”

He appealed to the Commission to continue its efforts to recover the shortfall in lottery proceeds, noting that the intervention of Non-Bank Financial Institutions in various areas of need in the country can only be sustained if operators and stakeholders in the industry remit what is due to the government.

Olukoede in his response noted that although Adeyanju was new, he had shown early signs of focus and determination to tread the path of honesty.

Olukoyede reminded Adeyanju that as an official holding a position of trust, he must be mindful of the legacy he will leave behind at the end of his term.

“I want to advise you to be careful in the use of the funds available to you. As the Nigerian saying goes, ‘shine.’ Don’t sign anything you don’t believe in. Read every memo that comes to you and make sure that your people on the ground are monitoring the implementation of the projects you have allocated funds for. Follow your conscience. Always do what is right. We are here today, but we will not be here forever. There will come a time when we will be held accountable for our actions in office, so let that be your guide in your work. I say the same to your team members.”

The Chairman who assured the delegation of the EFCC’s enhanced collaboration in the area of ​​debt recovery, stated that it was the Commission’s legal obligation to do so.

EFCC recovers over N90 billion debt from lottery operators first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.