The Remote Gaming License in Nigeria refers to the remote operator permit that enables foreign gaming companies to lawfully provide online gaming services to Nigerian gamers without the need for a localized presence in the country. This is an exemption to the general principle laid by law governing incorporation in Nigeria mandating all foreign businesses to achieve a local incorporation in Nigeria before the commencement of services or business activities.
In addition to offering betting services, foreign companies that hold a Remote Operator Permit may also advertise in Nigerian print media or through affiliate programs and deliver their services in Nigeria. They are also entitled to set up a payment gateway in Nigeria to receive payments.
The National Lottery Regulation Commission (NLRC), established under the National Lottery Act of 2005 (the "NLA") oversees the federation's gaming and lottery operations. The regulating body is in charge of issuing licenses and permits to gaming operators in Nigeria.
REQUIREMENTS FOR OBTAINING A REMOTE GAMING LICENSE IN NIGERIA
The Remote Gaming Operator must rigorously comply with the conditions set forth by the NLRC to obtain a Permit in Nigeria. The NLRC may, however, occasionally change the requirements.
To receive the License, the applicant must be duly registered and licensed abroad as a gaming company. The applicant must also pay the sum of $100,000 (One Hundred Thousand U.S Dollars) licensee fee. The fee is in addition to a non-refundable application fee to be paid by the applicant. The non-refundable application fee covers the cost of conducting due diligence on the company to ascertain its credibility and its primary license.
The license is valid for five years, but it must be renewed annually for another $100,000 (One Hundred Thousand U.S. Dollars).
WHAT THE REMOTE OPERATOR PERMIT OFFERS
- Permits the holder to market online gaming services to players in Nigeria, including the publication of print media in Nigeria.
- Permits the holder to make the following online games available to gamers in Nigeria: poker, bingo, slots, and casino games.
- Exempt the holder from having to establish a local subsidiary of your company in Nigeria as long as you submit a Non-Residence Registration Request through the Dedicated System to the Federal Inland Revenue Service of Nigeria (FIRS)
- It permits the holder to use the payment services offered by the Dedicated System.
- Permits the holder to fully repatriate its earnings/funds from Nigeria, provided that any taxes owed on player deposits have first been settled with the NLRC and the FIRS.
The Remote Operator Permit is a positive development, especially for companies that wish to offer their services to players within Nigeria but already hold a license in another nation. Strict adherence to the NLRC's standards is essential in obtaining and maintaining the license since failing to do so would result in immediate license revocation or placement on the blacklist for remote operators. To be properly guided and advised on the requirements, it is advisable to seek a professional consultation.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.