Assembly passes bills to regulate lottery, real estate sectors

Assembly passes bills to regulate lottery, real estate sectors....Read Full Article>>

The Osun State House of Assembly has passed the Lotteries and Gaming Bill and the Estate Agency Regulatory Authority (Establishment) Bill.

A statement by Olamide Tiamiyu, the Chief Press Secretary to the Speaker, Adewale Egbedun, said the House’s passage of the two bills would strengthen the regulatory framework around lotto and real estate business in the state.

Tiamiyu, who said the bills were passed at the parliament’s plenary led by the Egbedun on Monday, noted that the successful passage of the bill marked another achievement in the Assembly’s legislative agenda.

The statement partly read, “The Lottery and Gaming Bill, sponsored by the Speaker, aims to establish Osun Lotteries and Gaming Board, a regulatory framework that harmonizes all Laws relating to lotteries gaming activities within the state, and it seeks to ensure transparency, ethical practices, and compliance among operators in the gaming industry.

“Similarly, the Estate Agency Regulatory Authority (Establishment) Bill, introduced by Hon. Babajide Kofoworola Adewunmi, the Majority Leader, is designed to provide for the establishment of the Osun State Estate Agency Regulatory Authority to manage the activities of estate agents in Osun State.

“This authority will oversee registration processes, set industry standards, and promote professionalism within the real estate sector, while the bill aims to safeguard the rights of both property buyers and sellers, ensuring fair practices in real estate transactions.”

Speaker Egbedun emphasises that these bills would assist in promoting transparency and accountability in their respective industries.

He also stated that when signed into law, the regulations would not only protect the consumers but would also foster a conducive environment for legitimate businesses.

The speaker added that both bills would be sent to the Governor for assent.

“Once signed into law, they are expected to significantly impact the governance of the gaming and real estate sectors in the state, promoting economic growth and protecting the interests of residents,” he said…….Read Full Article