23rd July 2024

Management of the National Lottery Authority (NLA) has refuted media reports that questioned the financial records of the Authority and its inability to pay winning monies.

According to the Finder newspaper, its analysis of the financial records of the NLA is enough to raise concerns about the row between management and workers’ union over the NLA’s failure to pay some GHC10 million in prize (wins).

It reported that, per the records of the NLA, the Authority should not struggle to pay the said amount, let alone its workers, to witness an incidence of staff embarking on demonstrations.

“It is, therefore, surprising that KGL Technology Limited, a licensed private online lotto marketing company, is to rescue NLA to pay all outstanding lottery winners, raising questions about what has happened to NLA’s positive revenue balances in the past six years,” the report said.

However, a statement from NLA described the publication as “misleading, manufactured lies, outright fabrications” not representing “the true picture of the financial records at the NLA.”

Setting the records straight

 

In setting the records straight, NLA indicated that the writer of the article completely failed to factor key financial obligations of the Authority in his calculations, and only limited the analysis to revenue and payments of prizes (wins) “which clearly amounted to gross unprofessionalism and deliberate dishonesty.”

 

It clarified that the NLA financial obligations include payment of commission to lotto marketing companies; payment of fees to the technical service providers; making statutory payments into the Consolidated Fund; payment of salaries, allowances and other benefits to the employees of the authority; meeting cost of day-to-day administration and operations of the NLA; payment for contracts executed by individual companies and other financial expenses of the Authority, all over the last six years.

“We, therefore, urge the general public to totally ignore it and treat it with a pinch of salt.  We are also urging all stakeholders and employees of the Authority to remain calm as the Authority takes all the necessary steps to address the concerns of the lottery industry,” the statement said.

NLA further assured the public and its stakeholders of more pragmatic steps to address all current challenges and bounce back stronger as the leading lottery regulator and operator in Africa.

 

Kudos

 

Additionally, the Authority commended KGL Technology Limited, operators of the official short code of the authority’s *959#, for a solid partnership and good working relationship.

It acknowledged the various roles the company had played in resolving some financial issues recently, which otherwise would have plunged the Authority into some level of crisis.

Key among these issues is the recent financial challenges that encountered by the Authority, largely due to high winning ratios recorded over a long period of time. These wining ratios exceeded the sales/revenue generated, bringing about some liquidity challenges.

“However, a licensed partner company, KGL Technology Limited’s timely intervention offered the Authority life-saving antidotes to resolve this situation. We are grateful for such help,” it added.

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