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    Encourage China to support Ghana’s debt restructuring – Akufo-Addo to Germany

    Government to securitize $3.3bn in Central Bank loans

    Ghana withdraws $672m back-tax demand from MTN Group

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

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    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

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    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

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    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

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Bank promotions are not unlawful-NLA

bycitibusinessnews
December 3, 2014
in Banking And Finance, Business, Top Stories
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The National Lottery Authority (NLA) has dismissed reports that some banks are operating unlawful games of chance referred to as promotions.

The assertion follows a law suit filed by the Gaming Commission against the National Lottery Authority, six banks and an oil company for operating what the Commission calls unlawful games of chance.

But the Head of Business Promotions at the National Lottery Authority Ekow Inkoom speaking to Citi Business News said the companies are only running reward schemes which clients do not have to pay for to ensure their chances of winning a price.

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“So they are promising their clients some prizes and all they are say is that come and do business with us and then we will reward you, this is just a way of saying thank you and it only happens that they are using the elements of lottery to run the scheme, so that at the end of a certain period they say that okay these are the people who qualified and this is the time to reward them in which case the NLA will step in and help them to run the draw.”

The Head of Business Promotions at the NLA said that they are partnering the institutions to run the draw and select winners.

Stressing that they are mandated to partner any organization or any well meaning Ghanaian who will want to use the element of lottery in running rewards schemes.

The banks which has been sued by the Gaming Commission are Unibank , Fidelity Bank , Barclays Bank, Access Bank, Societe Generale Ghana Limited, UT Bank and the GCB Bank.

Vivo Energy Ghana Limited which distributes and markets Shell-branded fuels in the country has also been sued.

 

By: Norvan Acquah-Hayford/citifmonline.com/Ghana

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