On 13^th October 2026, the Lagos State Lotteries and Gaming Authority (“LSLGA”) issued a public notice on Gaming Licensing, Tax Compliance and Facilitation of Gaming Services through Telecommunications and VAS Platforms in Lagos State.

By the public notice, the LSLGA notifies telecommunication operators, mobile network operators (MNOs), Value Added Service (VAS) aggregators and VAS providers facilitating lottery, betting and gaming activities in Lagos State that a license issued by the Nigerian Communications Commission (NCC) does not extend to the provision or facilitation of lottery, betting or gaming activities within the state. The implication is that any lottery, betting, gaming activity offered or made accessible to customers within Lagos State through USSD, SMS, short codes, mobile applications, VAS platforms, etc. require and must be conducted under a valid lottery or gaming license issued by the LSLGA.

Implications of Conducting Lottery or Gaming Business without the Requisite License in Lagos State

Businesses that have carried on lottery, betting or gaming operations within Lagos State without the requisite lottery or gaming license are in violation of the Lagos State Lotteries and Gaming Authority Law, 2021 (“the Law”) which requires every lottery or gaming activity to be carried on under a license or authorization issued by LSLGA. This violation is a punishable offence.  

LSLGA has also said it is committed to recovering the arrears of taxes including gaming taxes, statutory levies, etc. from every operator that has operated a lottery, betting or gaming platform without the requisite license. The arrears of taxes, penalties and interest, would cover the period of 22 November 2024 to 13^th October 2026 when the public notice was issued.  The affected operators are also mandated to regularize their licensing status which means the license(s) applicable to their operations must be obtained from the LSLGA.

For MNOs, VAS aggregators and VAS providers that have assisted the companies to operate lottery, betting or gaming services within Lagos State without the requisite license, the direct implication include:

1. the necessity to verify the licensing and gaming-tax compliance status of every gaming operator utilizing their platforms from the LSLGA
2. provide the LSLGA with transaction, carrier billing and revenue-share records for every gaming operator or gaming service hosted on their platform during the period of 22 November 2024 till 13^th October 2026.
3. cease onboarding any gaming operator that cannot provide the requisite gaming license
4. suspend the facilitation of any existing gaming service which is not licensed or authorised by the LSLGA

Way Forward

Gaming operators that are not licensed or authorized to carry on gaming services within Lagos State by the LSLGA must regularize their licensing status by obtaining the appropriate gaming license(s) from the LSLGA and also account and pay the arrears of taxes for its operation between the period of 22 November 2024 till 13^th October 2026.

All MNOs, VAS aggregators and VAS service providers that have facilitated any unlicensed gaming operators must provide the required information to the LSLGA within 30 days, that is, no later than 12 November 2026. They must also immediately cease to facilitate the operations of unlicensed gaming operators and must not onboard any gaming operator that cannot provide a valid gaming license issued by the LSLGA.

Disclaimer: The information shared in this post is to provide general guidance on the subject matter and does not constitute legal advice. For guidance tailored to your organisation’s specific circumstances, contact info@goldsmithsllp.com

President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, to establish a coordinated oversight framework for Nigeria’s virtual assets industry. The Order which was made pursuant to section 5 of the Nigerian Constitution, 1999 (as amended) and which takes effect immediately, is a response to a regulatory landscape that had become fragmented across multiple agencies with overlaps and enforcement gaps that exposed Nigerians to fraud, money laundering and unchecked losses from unregulated operators.

At the heart of the framework is a new Virtual Asset Council, chaired by the Central Bank of Nigeria (CBN), with the Nigeria Revenue Service (NRS) and the Securities and Exchange Commission (SEC) as vice-chairs, and the Nigerian Financial Intelligence Unit (NFIU) and the Office of National Security Adviser (ONSA). The Council will provide strategic policy direction and work with the Attorney-General of the Federation to develop a harmonised legal and institutional framework for the sector. It will have a Virtual Asset Office domiciled in the CBN which will be its operational arm to coordinate information sharing and regulatory applications across agencies using an integrated supervisory platform.

The Order does not establish a new regulator or strip any powers from any agency and this is critically important. It is a coordination mechanism on top of the existing regime with  SEC maintaining jurisdiction over virtual assets that qualify as securities under the ISA 2025, while the CBN undertakes supervision of payment, settlement and custody services involving non-security virtual assets.  If it is not clear which regulator has regulatory jurisdiction and power over a virtual asset offering, the Council will make the decision.

The Order defines the sector’s immediate agenda. First, the CBN will introduce a regulatory sandbox to pilot virtual asset products and blockchain use cases under supervision. Second, the NRS will create a dedicated tax policy for the sector. Third, the Federal Government is currently working on finalising a Virtual Assets White Paper that will define the country’s long-term approach to the virtual assets sector. Finally, the Council has 30 days to produce a Harmonised Implementation Framework to give guidance on how agencies will apply the Order in practice.

The Executive Order, combined with the ISA 2025, represents a pivot in Nigeria’s approach to virtual assets from defining who regulates what, to ensuring that those regulators now move as one system, closing the gaps that made the sector attractive to bad actors in the first place.

Disclaimer: The information shared in this post is to provide general guidance on the subject matter and does not constitute legal advice. For guidance tailored to your organisation’s specific circumstances, contact info@goldsmithsllp.com

On 13 February 2026, the Nigerian President signed the Presidential Executive Order to Safeguard Federation Oil and Gas Revenues and Provide Regulatory Clarity, 2026 (“Executive Order No. 9 of 2026”), aimed at preventing revenue losses and unconstitutional deductions to ensure more funds are available for the federal, state, and local governments.

The Executive Order restores the constitutional revenue entitlements that were altered by the enactment of the Petroleum Industry Act (PIA), 2021.

On 3 February 2026, the Nigeria Revenue Service (NRS) issued an official notice clarifying the implementation and effective dates of the newly enacted tax laws, following public questions and debate regarding how and when the reforms would take effect.

The notice provided guidance on the practical application of the 2025 Tax Reform Laws and reaffirmed the statutory commencement dates. For businesses and individuals, the clarification effectively signals the conclusion of the transition phase and it confirms that full compliance under the new tax regime is now expected.

The Central Bank of Nigeria (CBN) has released its inaugural fintech assessment report, detailing the strategic trajectory of the nation’s digital financial ecosystem. The data highlights a significant expansion in transaction infrastructure, with the Nigeria Inter-Bank Settlement System (NIBSS) processing approximately 11 billion transactions in 2024. This figure represents a 100% increase in volume compared to 2022, cementing Nigeria’s position as a global leader in real-time payments.

The Nigerian tax landscape has expanded to include stricter enforcement on offshore disposals of Nigerian assets.

Environmental sustainability has increasingly become a pivotal influence on intellectual property (IP) policy across the globe. This shift is largely driven by initiatives like the WIPO GREEN platform, which facilitates connections between providers of green technologies and those seeking sustainable solutions. In Nigeria, this global movement has been embodied through the IP for Green Innovation Program.