Business
‘Lottery Automation To Ensure Proper Evaluation Of Industry Income’
The National Lottery
Regulatory Commission (NLRC) said the automation of lottery will ensure proper monitoring and evaluation of the income the industry generates.
The Director-General of the commission, Mr Adolphus Ekpe, said this while fielding questions from newsmen in Abuja.
“Nigeria is a country of potential, but there are so many sectors that Nigeria has gone beyond potentials to realise them.
“The stock market is part of it; it has gone beyond potential; now, everyday something happens on the stock market; it is because it is automated; when a process is automated, it will be able to harness and generate.
“The lottery industry needs to be properly automated and that is our primary goal for this year; we want to make sure we automate, so that we can know what the operators are doing.
“It is actually a bit difficult to say the volume when you are not properly automated.
“Let us say at the end of today how many people played lottery, because it is not automated, I will not be able to tell you how many people have played.
“So we need to automate to get what is generated.’’
Ekpe, however, expressed the belief that the commission had the capacity to be the highest revenue generating agency in the country.
He noted that population drives lottery and therefore, charged staff of the commission to brace up, to see that the commission delivered on its mandate.
“Lottery depends on people and we have the people and therefore if we can harness them well, if we have the right technology and have the right people who will operate, we can get it done.
The director-general said that the commission would ensure that licensed operators imbibed the virtues of honesty, sincerity and transparency.
According to him, some licensed operators are not capable of doing the business well.
“We need to make sure the operators are honest, sincere and capable; some people come to collect lottery license but they are not capable to do it, believing that somebody from outside will come as a technical partner.’’
He said the commission had 20 licensed operators and no fewer than 25 short-term promotional lotteries currently ongoing. “We have 20 licensed operators now.
“In addition to those 20 operators that are traditional lottery operators, we have a number of what we call promotional lotteries
“Promotional lotteries are short duration lottery schemes of less than one year duration. “It could be one month, it could be three months, it could be six months, and it could be one year. “Any scheme either by a bank or an individual any short duration lottery we call it promotional lottery and we have currently about 25 promotional lotteries that are ongoing.’’
He underscored the need to build the capacity of staff of the commission to ensure proper regulation of lottery activities.
“Our own staff need to be properly trained; if you don’t know what you are regulating you will not regulate well; so, we need to be properly trained,’’ Ekpe said.
.The Tide reports that the commission has the mandate to regulate, set standards, give guidelines, ensure transparency, accountability and create the enabling environment for people to play the game of lottery.
On the other hand, the National Lottery Trust Fund is the custodian of funds derived from lottery operations and are used for “good causes’’, which include infrastructure development.
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter
