•Tinubu
A chieftain of the All Progressives Congress (APC) in Lagos, Dr. Abayomi Nurain Mumuni, has raised concerns over the Supreme Court’s recent judgment nullifying the National Lottery Act, warning that it poses significant legal risks for stakeholders in the lottery industry.
In separate letters addressed to President Bola Ahmed Tinubu and the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, Mumuni highlighted the uncertainties caused by the ruling, which he said threaten the investments of local and international stakeholders, reports The Nation.
The Supreme Court, in a unanimous judgment delivered by a seven-member panel on Friday, declared that the National Assembly lacked the authority to legislate on lottery and games of chance.
This decision followed a suit filed in 2008 by Lagos state and others, challenging the National Lottery Act 2005.
Mumuni who is the CEO of MorRich Lottery Limited, noted that the ruling undermines the regulatory stability upon which substantial investments in the sector were made.
He warned that the situation could lead to domestic and international litigation, eroding investor confidence and jeopardizing the lottery sector’s economic contributions.
Copies of the letters were made available to journalists today.
“I hope this letter finds you in great health and high spirits. I am writing to bring to your attention a matter of significant importance concerning the gaming and lottery sector in Nigeria, particularly in light of the recent Supreme Court judgment regarding the Nigeria National Lottery Commission.”
While addressing President Tinubu, Mumuni said: “As you may be aware, the Supreme Court’s decision has raised several legal uncertainties that pose substantial risks for stakeholders in the lottery business. These stakeholders, including local and international investors, have made significant investments predicated on a stable regulatory environment.
“The current situation may lead to potential litigation, both domestically and internationally, which could undermine the confidence of investors and affect the economic contributions of the lottery sector.
“In the interest of promoting growth and stability within this industry, I respectfully urge you to engage with the Attorney General of Nigeria to consider a review of the Supreme Court judgment.
“A collaborative dialogue involving relevant stakeholders could help devise a comprehensive solution that addresses the concerns of all parties involved, while preserving the integrity of our judicial system.
“Such proactive measures will not only safeguard investments but will also enhance the revenue generation capabilities of the government through a well-regulated lottery system. It is crucial to reassure investors that Nigeria remains a viable and appealing option for their business endeavors.
“Thank you for considering this important matter. I am optimistic that with your leadership, we can navigate these challenges effectively and foster an environment conducive to growth and development in Nigeria’s lottery industry.”
