Are you also an adventurous person? If yes, then the gameplay of gambling or lottery is the perfect choice to go along with. It is observed that people are practicing gambling practices for ages to attain higher profits from it.
However, getting started with the lottery business is one of the optimal practices for sure. Additionally, it is a noticeable fact that it isn’t easy to get a lottery business license in Nigeria for a newbie.
We are here assisting you to learn how to get started with it, to know more consider going through details stated below.
Legalization of lottery business in Nigeria
when pondering about essentials for grabbing lottery business in Nigeria, then you have to abide by the national lottery act 2005 along with national lottery regulation 2007 that governs lottery business in Nigeria.
Some exception cases can also be seen where different la
ws have been settled by law 2008 in Lagos state.
Requirements
- Stamp form CAC2 that is due
- Get memorandum of association of the business you are getting started with
- Details fully mentioned in CAC2
- Address of the company where you have registered mentioned in the form of CAC3
- Necessary details of directors in the form of CAC7
- Provisions regarding the business governed by statutory compliance mentioned in CAC4
Additionally, you would be required to deposit for minimum capital of 100000000 shares for getting started with the business of lottery in Nigeria legally.
The summary
From the details stated above, we can easily conclude to the aspect that you had to fulfill thousands of requirements for getting license or lottery business in Nigeria essentially. It would be perfect for you to continue along with the procedure stated above that can come in handy for a newbie.
