Reno Omokri, the former Special Assistant to President Goodluck Jonathan, has put forth a suggestion to President Bola Tinubu, proposing a ban on sports betting apps as a strategy to boost the value of the naira. In a tweet, Omokri asserted that such a ban could have more positive effects than the prior Twitter ban imposed by former President Muhammadu Buhari.
Drawing attention to data from the National Lottery Trust Fund, Omokri expressed concern over the staggering daily expenditure of $1 billion on gambling in Nigeria. He highlighted that a considerable portion of these funds exits the country, flowing to destinations such as Russia, South Africa, and Europe. Omokri argued that sustaining the growth of the Nigerian economy would be challenging with continuous capital outflows.
Advocating for an Executive Order, Omokri urged President Tinubu to empower the Nigerian Communications Commission to ban sports betting apps from GSM Internet Service Providers in Nigeria. He additionally recommended the revocation of licenses for physical sports betting operators. Emphasizing the economic ramifications, Omokri stressed that the naira’s upward trajectory would be hindered in the face of widespread gambling.
Underlining the detrimental impact on Nigerian youth, Omokri argued that gambling serves as a catalyst for petty crimes, with individuals resorting to illicit means to fund their gambling habits. He appealed to President Tinubu, a trained accountant, to recognize the economic threat posed by the gambling epidemic and take decisive action.
Quoting Omokri, “President Tinubu can immediately improve the economic conditions of most Nigerians and make the Naira grow by issuing an Executive Order authorising the Nigerian Communications Commission to ban sports betting apps from the App Store of any GSM Internet Service Provider in Nigeria and revoking the licenses of any physical sports betting operators in Nigeria. It makes better sense than Buhari’s draconian #TwitterBan.”
Highlighting the severity of the issue, he added, “‘There is such an epidemic of gambling in Nigeria and it is destroying Nigerian youths. $1 billion is spent on gambling daily in Nigeria according to the National Lottery Trust Fund. Please fact-check me. The average Nigerian spends $15 daily on sports betting and other types of gambling, with the vast majority of that amount leaving our economy and going to places like Russia, South Africa, and Europe. The naira can never sustain its rally under such circumstances.”
Omokri maintained that President Tinubu, being a first-class accountant, must recognize that this parasitic economic sabotage could destroy Nigeria if left unaddressed. He contended, “A lot of the petty crime in Nigeria is caused by youths seeking money, by any means, to fund their gambling habit. It would be irresponsible for a first-class accountant like Tinubu not to act on such a matter as threatening to our national security as this gambling epidemic.”
