Metro
Cross River Declares Stake.com Unlicensed Gaming Operator, Begins Enforcement
The Cross River State Government, through the Cross River State Lotteries and Gaming Agency, has declared Stake.com an unlicensed gaming operator in the state and other jurisdictions under the Federation of State Gaming Regulators of Nigeria….
The Cross River State Government, through the Cross River State Lotteries and Gaming Agency, has declared Stake.com an unlicensed gaming operator in the state and other jurisdictions under the Federation of State Gaming Regulators of Nigeria.
The agency, working with the Federation of State Gaming Regulators of Nigeria (FSGRN), said Stake.com was not licensed by the Cross River State Lotteries and Gaming Agency or any of the federation’s member states to conduct gaming operations.
In a public notice issued in Calabar, the agency’s Director-General, Michael Eja, alleged that the platform had failed to register, declare or remit applicable monthly gaming taxes and levies despite receiving at least 10 formal compliance notices over the past two years from the Lagos State Lotteries and Gaming Authority, a member of the federation.
The regulators also cited the Supreme Court judgment in Attorney-General of Lagos State & Ors v. Attorney-General of the Federation & Ors (SC/1/2008), delivered on November 22, 2024.
They said the judgment affirmed the constitutional authority of states to regulate lotteries, betting and gaming, reinforcing the requirement for operators to obtain appropriate state licences before offering gaming services within a state.
The Cross River State Lotteries and Gaming Agency and the FSGRN said they had consequently commenced enforcement action against Stake.com, its directors and any payment companies, financial institutions, advertising platforms, influencers or other entities found to be facilitating its operations.
The regulators urged members of the public to stop wagering on Stake.com and patronise only duly licensed gaming operators.
They also called on banks, payment service providers, fintech companies, media organisations and digital advertising platforms to conduct proper due diligence and cease facilitating unlicensed gaming activities.
The agency said the regulatory action was aimed at protecting consumers, safeguarding minors, preserving market integrity and ensuring compliance with applicable state laws, regulatory requirements and tax obligations.
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