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Business News of Wednesday, 13 May 2009

Source: GNA

Lotto marketers raise over GH¢10 million

Accra, May 13, GNA - Last year, the Association of Lotto Marketing Companies (LMCs) paid GH¢10.6 million to the National Lotteries Authority (NLA) towards the consolidated fund. During the same period, the LMCs and their agents paid a total of GH¢1.7 million in income tax. Disclosing these to the Ghana News Agency, in Accra, on Wednesday, Mr Kofi Frimpong, director the association, appealed to the government to initiate measures to mitigate pirating of NLA's draws. He said one way to do that was to enforce laws prohibiting illegal lotteries to protect the interest of the NLA, "which is the hen that lays the golden eggs". Mr Frimpong asked, "if such an amount could be raised into the national coffers why should others be allowed to trade on lotto draws through pirating the numbers drawn, and squander the profit to the disadvantage of the whole nation?" He said the interest of NLA should be protected, adding that the association would support any action taken by management of the NLA in introducing other new games aimed at generating more funds for the country.