NLA pays GH¢10m dividend to Government for first time since 2017

Accra Evening News

The National Lottery Authority (NLA) has presented a GH¢10 million dividend to the Government, marking the Authority’s first dividend payment to the State since 2017.

The payment was presented to the Minister for Finance, Dr Cassiel Ato Forson, by the NLA Board of Directors, led by its Chairman, Frederick Amissah, and Director-General, Mohammed Abdul-Salam.

Receiving the dividend, Dr Forson welcomed the resumption of payments but said the GH¢10 million should represent the beginning of stronger financial returns from the Authority rather than a symbolic contribution.

“The taxpayer deserves more than GH¢10 million from NLA, but this is a good step,” the Finance Minister said.

According to the Ministry of Finance, the NLA previously paid dividends annually to Government, but the payments ceased after 2017.

Dr Forson also disclosed that the Ministry, working with the NLA and the Attorney-General, is reviewing agreements which he said have limited the amount of revenue accruing to the State from the Authority.

The review is expected to be completed this month.

According to the Minister, some existing arrangements have ceded what he described as an unreasonable share of NLA revenue to other entities, reducing the amount ultimately available to the State.

“I am working with the Attorney-General to complete, this month, a review of agreements that have unreasonably ceded NLA revenue to others at the expense of the State,” Dr Forson said in a separate statement on the development.

He further called on the NLA to concentrate on its statutory responsibilities and ensure that its operations deliver greater value to the public.

“The NLA must focus on its core mandate and deliver full value to the people,” he said.

“Ghana has lost enough. I will ensure that every pesewa due the State from the NLA is paid.”

For the NLA, the payment comes amid efforts by its current leadership to improve the Authority’s financial performance and revenue contribution.

Mr Amissah described the GH¢10 million dividend as the beginning of reforms at the Authority and said the NLA expected to deliver stronger returns to Government in the years ahead.

“This is just the beginning of the reforms and improvements in NLA,” he said.

The resumption of dividend payments also comes as Government increases pressure on state-owned and state-linked institutions to improve their financial returns and ensure that public assets generate greater revenue for the national purse.