Nigeria has ambitions to emulate best market practices from more developed iGaming jurisdictions around the world. The FSGRN has reached an agreement with Switzerland’s Gambling Supervisory Authority that will pave the way.
Nigeria is in the process of modernising and upgrading its regulatory framework for online casinos and sportsbooks, including investing in tech solutions designed to enhance the efficiency of the regulatory process, such as monitoring, reporting, and compliance, as well as streamlining local investment in the market.
On September 16th, the Federation of State Gaming Regulators of Nigeria (FSGRN) and Switzerland’s GESPA - the Swiss Gambling Supervisory Authority reached a memorandum of understanding that hinged on several important points.
Members of the FSGRN and the CEO of the Enugu State Gaming and Lotto Commission, Prince Arinze Arum, praised the steps taken thus far to implement international best market practices across Nigeria. Key among these steps is the positioning of Nigeria’s state regulatory bodies at the forefront of global gaming regulations.
The CEO stated that the initiative would guide Nigeria’s iGaming industry in the right direction if properly implemented, and that the exchange of expertise programme was commendable as it reflected the forward-thinking stance of the FSGRN. He went on to add:
“As a member of the association, the Enugu State Gaming and Lotto Commission is fully aligned with the spirit and objectives of the collaboration with GESPA. We are, however, still awaiting the full details of the arrangement and how its outcomes will be domesticated across the various state commissions.”
Arum also pointed out that the concept of cooperation was a strong indication that the country’s state regulators are serious about expanding global collaboration, improving regulatory capacity, and instituting best practices in player protection and responsible gambling.
This type of partnership is a win-win situation that also benefits operators by ensuring a more transparent and trustworthy Nigerian online gambling sector, which the CEO said he looked forward to seeing fully implemented.
When questioned about whether the local regulatory framework was already mirroring global standards and the industry’s best market practices, the CEO insisted that progress is being made. He believes that, in due course, other African nations will seek to emulate them.
Arum singled out Lagos and Enugu as having implemented policies that increasingly mirror those in more developed jurisdictions, such as Malta, the UK, and other European markets.
Enugu state is hard at work to roll out and bolster undertakings that will significantly improve market standards and boost investor confidence.
Key among the strategies that include upgrading regulatory tech infrastructure to ensure real-time monitoring of operators’ activities and responsible gaming education framework improvements is an additional project with the state government to create an ‘investment facilitation window.’
This will streamline approvals and reduce bureaucratic hurdles for legitimate investors who seek to establish themselves in the state.
For Nigeria to fully align with global best market practices, foreign and local investment is crucial to the process, and much can be learned from the Enugu State Gaming and Lotto Commission's approach.
Read our online casino reviews and find the best online casinos in Nigeria with big welcome offers and exciting ways to play.
Roulette
Blackjack
Baccarat
Craps
Poker
Slots
