Ban sports betting to stabilise naira, Reno Omokri urges Tinubu
Reno Omokri, a former presidential aide, has called upon President Tinubu to take action against sports betting apps in Nigeria through the Nigerian Communications Commission.
He stated this via his X handle on Wednesday, January 3, 2023.
Omokri argued that the daily expenditure of about $1 billion on gambling is detrimental to the Naira’s stability and negatively impacts the Nigerian economy.
He suggested that President Tinubu could significantly enhance the economic well-being of Nigerians and strengthen the Naira by issuing an Executive Order to ban sports betting apps on GSM Internet Service Providers and revoking licenses of physical sports betting operators.
Omokri asserted that this move would be more sensible than the previously implemented #TwitterBan by President Buhari.
He wrote, “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.
“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.
“This is scary. How much is our GDP that we are pissing it away like that? More money is leaving Nigeria through gambling than is coming in. Buhari was thoroughly useless in that he was an anti-intellectual who was led by the nose by his former recharge card seller turned overnight billionaire nephew, Tunde Sabiu. But Tinubu is an accountant. He must know that this parasitic economic sabotage will destroy Nigeria if left unchecked.
“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.”