HOW TO OBTAIN NATIONAL ONLINE CASINO LICENSE IN NIGERIA

HOW TO OBTAIN NATIONAL ONLINE CASINO LICENSE IN NIGERIA

 

REQUIREMENTS FOR OBTAINING NATIONAL ONLINE CASINO LICENSE

The requirements for a National Online Casino License include the following:

  1. General Business Information
  2. Completed NLRC application form and application letter
  3. Incorporation documents: Certificate, MEMART and Application Form 1.1 (or Form CAC 2 and CAC 7)

iii.    The applicant company must have minimum share capital of N30, 000,000.00 (Thirty Million Naira)

  1. Evidence of filing annual returns to date with the Corporate Affairs Commission (CAC) for existing companies
  2. Profile of the Company and each of its directors.
  3. Address of administrative office and locations across Nigeria

vii.    Evidence of Domain name registration with (ng/.com)

viii.    Evidence of registration with Ministry of Trade and Investment, Trade name, logo and colors.

  1. Name and profiles of all Directors and Key Personnel including Company Secretary, Compliance Officer, Accountant, ICT Manager, Operations Manager, Agency Manager(s) and Customer Care Manager
  2. Qualification and relevant gaming industry experience of Directors or Key Personnel
  3. Evidence of tax payment by Directors and Key Management Staff for the preceding year

xii.    Copy of Organogram and Proposed Organizational Structure

 

  1. The Operational Information required includes:
  2. Details of planned game events (live casino games, sports book, virtual games and so on) and comprehensive modalities for each of the game events
  3. Proposed distribution channels: retail, web-based, SMS, Mobile app or other channels

iii.   Operations, Marketing and Distribution Strategy showing expansion plans across Nigeria

  1. Betting modalities, Terms and conditions of participation and game rules
  2. A Casino gaming industry analysis including SWOT analysis and competitive advantage of the proposed Casino gaming scheme.

Required Financial Information

  1. The proposed investment in the Casino gaming scheme
  2. Source of funding and financing plans: equity, foreign investment, loans and applicable terms of investment

iii.    Evidence of financial capability to fund the operation of a casino gaming including the Company’s Bank Statement for the last two (2) years

  1. Five (5) Year financial projection for the betting scheme: profit and loss account showing investment, sales/income, winnings/ prize money, tax obligation, operating expenses, third party suppliers etc.
  2. Details of payment solution provider and proposed integration plan with such providers. A service agreement with the provider.

 Required Technical Information

  1. Letter of introduction to the Commission (NLRC) from ALL technical solution providers (software providers, hosting company and any other technical support services) engaged by the applicant stating specifically the nature of services to be rendered supported with relevant documents (SLAs).
  2. Letter of undertaking from ALL technical solution providers (software providers, hosting company and any other technical support services) engaged by the applicant stating their commitment to fair and equitable service to their client and to promote the development of global gaming by implementing best practices in compliance and service delivery.

iii.    Evidence of standard certification for the proposed platform/equipment/machines. Copy of the result of a recent Laboratory test executed on the gaming platform or any written document either as approval or endorsement from a recognized regulatory authority verifying the integrity of the proposed platform.

  1. A document detailing all components (Operating Systems, Gaming software, Databases) and hardware & and specifications (Servers, UPS, switches, routers, firewalls etc.) to be implemented during the setting up of the platform.
  2. Schematic diagram providing a concise illustration of the technical operational flow.

After completing the application process, applicants will be required to make a presentation to the Commission (NLRC). Application review will take a minimum of 10 working days.

Required Official fees

  1. Non-refundable Application and Processing fee of NGN2, 000,000.00 (Two Million Naira) payable to the Commission
  2. Five (5) Year Permit Fee NGN100,000,000.00 (One Hundred Million Naira Only) payable to the Commission upon clearing the document review process.

NOTE:

These fees are the official fees payable to the NLRC and does not include any fees that might be incurred for external professional services in the course of procuring the license.

The company seeking to obtain license, must first be incorporated with the CAC

Where any foreigner is involved in the company seeking the license, either as a shareholder or as a director, the minimum authorized share capital for the company will be NGN100 Million in compliance with the regulations from the Federal Ministry of Interiors and CAC.

Source: nlrc.gov.ng

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