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Nigeria adopts pioneering system to collect taxes directly and in ‘real time’ from online transactions

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Nigeria adopts pioneering system to collect taxes directly and in ‘real time’ from online transactions
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The Federal Inland Revenue Service of Nigeria (FIRS) has signed an agreement with UK based Fintech company E-Technologies Global Limited, to help it modernise its tax collection system for the digital age.

The project is the first of its kind where a pioneering approach to tax collection, enforcement and monitoring is being implemented as a managed service through E-Tech’s Sentinal National Payment Gateway. Sentinal is a unique transaction processing system that instructs integrated payment service providers to deduct taxes or charges at the point of transaction and remits funds in real-time to Governments’ Treasury accounts.

The project with Nigeria starts with the launch of a new initiative by the National Lottery Regulatory Commission of Nigeria to attract ‘Tier 1’ offshore global gaming operators to apply for a five year Permit to offer all gaming and sports-betting services to Nigerian players. Operators must comply with full risk-based AML screening and pass the ‘fit and proper’ test to demonstrate responsible gaming practices before being granted a Remote Operator Permit.

All approved operators will then connect to Sentinal where gaming duty will be deducted from player deposits and remitted directly to the Government in real-time. The Permit has the advantage of allowing global operators to legitimately offer online gaming services to Nigerian players without the need to incorporate locally in-country and is subject to their continuing compliance with the Permit Terms and Conditions.

Mohammad Nami, Executive Chairman of the Federal Inland Revenue Service of Nigeria, said: “The world is entering a challenging time where there is a strong obligation on Governments to increase tax revenue as a percentage of GDP so as to provide much needed funding for local infrastructure and public services. Nigeria needs to innovate and harness technology to ensure that online transactions are taxed and accounted for.

“We have been very impressed with the Sentinal System which allows us to not only collect tax revenues at source, but also provides us with tax reporting and monitoring tools in real-time. The system will integrate with our own TaxPro Max portal.”

Lanre Gbajabiamila, Director General of the National Lottery Regulatory Commission of Nigeria, added: “Online gaming continues to grow rapidly in Nigeria, particularly on mobile, and the adoption of E-Technologies’ Sentinal National Payment Gateway is a huge step to allow us to capture gaming duty at source.

“We are welcoming all responsible offshore gaming operators to apply for a Remote Operator Permit as long as they pass all the relevant criteria including full AML screening and responsible gaming practices. We are proud to be the first country to adopt the Sentinal System and we believe it will bring a real national benefit to Nigeria.”

David Kicks, CEO of E-Technologies Global Limited, said: “Governments in rapidly developing nations are struggling to keep pace with the evolution of eCommerce and the ascent of mobile transactions. E-Technologies was created specifically to address this issue and we have built an incredibly strong team with unrivalled expertise across fintech, eCommerce and iGaming.

“We are thrilled that the Nigerian Government has made the decision to integrate our Sentinal System, empowering them to streamline online taxation. By understanding better how the payments ecosystem behaves and evolves, we can drive a paradigm shift towards a point of consumption tax methodology.

“This landmark deal will herald a new era in rapidly opening new regulated markets for responsible gaming operators, as grey market operating becomes increasingly problematic.”

Africa

BetCorrect Announces Partnership with Nasboi

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BetCorrect has announced a new partnership with Nasboi, a well-known and hardworking Nigerian influencer. This partnership marks a significant milestone for BetCorrect as it aims to expand and connect with a wider audience.

“We chose Nasboi because we are innovative, and we like the fact that he is hardworking and innovative. We believe that together, we can bring fresh and exciting ideas to our audience,” said a BetCorrect representative.

Nasboi is also thrilled about this new collaboration. “I am excited about the opportunity to grow this partnership with BetCorrect. I am looking forward to working together and creating new ways to engage and entertain our customers,” he said.

“As part of our new plans, BetCorrect is launching the Correct Millionaire Campaign. This campaign is all about rewarding our users and making them happy. We want to give back to our loyal customers with exciting rewards and opportunities,” the company said.

“BetCorrect is committed to standing out in the market with innovative campaigns and promotions. Our partnership with Nasboi is just the beginning. We will continue to find new ways to surprise and delight our customers, ensuring BetCorrect remains a top choice in the industry.”

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Africa

SIS partners with Bitville Gaming to accelerate progress in Africa

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SIS partners with Bitville Gaming to accelerate progress in Africa
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SIS (Sports Information Services), the leading multi-channel and content supplier of 24/7 live betting services, has signed an agreement with Bitville Gaming to deliver its products to sportsbooks in regulated markets across Africa.

The deal, which covers premium racing content featuring over 65,000 annual horse and greyhound racing events annually, SIS’ round-the-clock Competitive Gaming products (eBasketball and eSoccer), and Numbers draws, including the original 49’s live draw, with fixed odds betting on live numbers draws significantly enhancing the reach of SIS across Africa.

SIS has worked alongside Bitville Gaming to develop region-specific iframes for its popular betting content, providing a clean, attractive, and engaging front end with a much quicker integration.

As a leading specialist in B2B products, Bitville Gaming offers a comprehensive retail and online betting solution for betting operators and platform providers, including a large selection of state lotteries.

Joe Andrews, Head of Sales – Africa at SIS, said: “We have made great strides recently in the African market and this is a deal that will help us to supercharge our progress across regulated markets. Bitville Gaming has great reach and in taking all of our products, we believe we can serve its operator partners with compelling, 24/7 entertainment.

“The new iframe that has been designed is also perfect for engaging with the huge number of live numbers draws fans in the region.”

Andrew von Hoesslin, CEO at Bitville Gaming, said: “We are always looking for new products to offer to our operator partners and the portfolio provided by SIS is full of richly engaging products. From racing to Competitive Gaming and live numbers draws, this agreement enables us to give operators and their players a range of entertainment options that are proven to appeal to African audiences.”

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Africa

EGT Tanzania consolidates its status as a leader in Africa with a major installation at Grand Leone Casino in Sierra Leone

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EGT Tanzania consolidates its status as a leader in Africa with a major installation at Grand Leone Casino in Sierra Leone
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Euro Games Technology continues its fruitful collaboration with Gaming IQ in Africa. After the large-scale installation in Grand Palace Casino in Cameroon several months ago, the Bulgarian manufacturer of gaming equipment recently made another big delivery of more than 60 cabinets in the reputable Grand Leone Casino in Sierra Leone, the operator’s biggest establishment in Free Town. Thus, EGT became the main supplier of the casino, which currently has a total of 80 machines.

Its guests now have the chance to enjoy some of the most popular products in EGT’s portfolio. Among them are the top performers from Vega Vision Series, as well as the Premier Series bestsellers P 24-24 Up, P 27-27 St Slim and P 42V St Curved, which are among the most successful slot cabinets in the African markets. Super Premier also made its debut in the country, having demonstrated the same excellent performance as the other models. All machines are equipped with the well-known Collection Series multigames: Gold, Purple, Union, Orange, Green and Fruits Collection, featuring some of EGT’s most popular titles on a global level. The players’ experience is complemented by the opportunity to try their luck with the well-established in the local markets Lady’s Cards and Premium Link jackpots. At their disposal are also several S-line terminals connected to a live and an automated roulette wheel and offering the latest multiplayer software of the company: King 3 and 4, Multiplay and Royal multigame mixes.

EGT’s casino management system Spider has been installed in Sierra Leone for the first time. After the impressive results it showed at Grand Palace Casino in Cameroon, the operator decided to implement it here and it is already successfully assisting for the easy and efficient management of the daily activities in Grand Leone Casino as well.

“With this installation, EGT became the leader in Sierra Leone with 60% market share,” commented Lilia Georgieva, CEO of EGT Tanzania. “We would like to thank our valued partners from Gaming IQ, who once again chose to provide one of their top gaming locations with our products. I highly appreciate that they place their trust in us and I believe that we will fully meet the high expectations they have for us.”

Delcho Petrov from Gaming IQ also shared his positive feedback regarding the new collaboration with EGT: “We are extremely happy and grateful for achieving this project at the beautiful and reputable property of Grand Leone Casino. The property now offers two VIP Slot Areas and various gaming spaces to accommodate each type of customer and has the highest footprint of slot machines in Sierra Leone. Our Collaboration with EGT has proven again a successful product delivery.  We continue to strive for delivering quality and modern products and to develop the African casino market. We look forward to our upcoming projects in different countries and expanding our footprint.”

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