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NLB comes under fire over allegation of mishandling unclaimed prize money Featured

NLB comes under fire over allegation of mishandling unclaimed prize money

The National Lotteries Board (NLB) has come under fire following revelations in the country's 2022 annual audit report regarding unclaimed prize money and uncredited funds.

The report highlights several instances where the NLB has failed to adhere to financial regulations and has retained funds that should have been credited to the Consolidated Fund.

One particularly concerning issue is the failure to credit unclaimed prize money from the "Hadahana" lottery. The report states that a sum of Rs. 12 million had remained unclaimed from January 27, 2022, to June 30, 2022.

This money should have been credited to the Consolidated Fund as per the provisions of the Act. However, the NLB has retained the funds in its own account.

Another issue raised in the audit report is the NLB's retention of Rs. 2,397 million as at December 31, 2022.

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