OrderPaperToday – The House of Representatives on Thursday considered and passed a motion to stem criminality and money laundering through gaming in Nigeria.

This followed the consideration of a motion titled ‘Need for Gaming Operators to Integrate National Identity Number (NIN) for Verification and Identification of Customers,’ presented by Ibrahim Ishiaka (APC, Ogun).

--Sponsored Content --

READ ALSO: Can the Money Laundering Act truly stem corruption in Nigeria?

“The House notes that the global gaming market is undoubtedly a huge one estimated to generate between $400 to $500 billion yearly, and with the consistency of the current trends, by 2022, it is said to be worth around $565 billion with increasing amounts of revenues coming from online gaming in its many forms.

This is disturbing that when such large amounts of money are exchanged and transacted quickly through relatively anonymous interactions, there is a significant risk that criminals will be tempted to use the situation for money laundering.

Mindful that with age-restricted businesses like casinos and online gaming platforms, the critical barrier to entry for customers is age and identity verification, therefore there is an increased need for such verifications in virtual situations in order to secure both the customers and the operators; 

Cognisant that one of the basic purposes of the National Identity Number is for identification, as it not only serves to identify the individual holder but also curbs duplication of identities.”

READ ALSO: How money laundering connects to terrorism

The House also called on the regulators to place a premium on the data security of gamers and gaming operators.

“There has to be one readily available way to achieve this, which is to integrate the National Identity Numbers (NIN) into the data collection of both new and existing customers,” he added

The House in its decision, therefore, urged all gaming operators and its customers to integrate the National Identity Number (NIN) for proper data collection, easy identification, and verification.

The motion was passed when the presiding officer, Femi Gbajabiamila put the question to vote and it mandated the Committee on Governmental Affairs to ensure compliance. 

 

Sponsored

LEAVE A REPLY

Please enter your comment!
Please enter your name here