Between 2014 and 2019, the NLA made sales of over GH¢2.2 billion according to the Finder
The National Lottery Authority (NLA) has taken to personal attacks instead of providing a breakdown of how it spent over GH¢1.1 billion (GH¢1,109,627,210) revenue it made after paying all prizes (wins) in six years.
The NLA, in a statement issued by Razak Kojo Poku, the public relations officer (PRO), chose to attack the reputation of The Finder and its editor with disparaging remarks.
The NLA has not given any meaningful evidence of how the over GH¢1.1 billion positive revenue balance that accrued in the six years was used to justify that the authority was broke to require a bailout from KGL Technology Limited before it can pay GH¢10 million outstanding prizes (wins).
It is interesting to note that the NLA statement could not deny any of the figures quoted in the story published on Wednesday, which means that The Finder story is accurate and therefore could not be denied by NLA.
Data sighted by this paper reveals that the NLA made a positive revenue balance of over GH¢1.1 billion (GH¢1,109,627,210) after paying all prizes (wins) in six years.
GH¢2.2 billion sales recorded in 6 years Between 2014 and 2019, the NLA made sales of over GH¢2.2 billion (GH¢2,206,721,287).
GH¢1 billion prizes (wins) in 6 years
On the other hand, total prizes (wins) during the six-year period was a little over GH¢1 billion (GH¢1,097,094,077).
NLA made GH₵1.1bn after paying wins
When the total prizes (wins) is deducted from the total sales, the NLA made a positive revenue balance of over GH¢1.1 billion (GH¢1,109,627,210) after paying all prizes (wins) in six years.
Per these figures, The Finder was of the view that the NLA should not struggle to pay GH¢10 million of outstanding prizes (wins) which resulted in the workers embarking on demonstrations.
Therefore, The Finder questioned the announcement that KGL Technology Limited, a licensed private online lotto marketing company, is to rescue NLA to pay all outstanding lottery winners.
In response to the story, Razak Kojo Poku, PRO for NLA, rained insults on The Finder and its editor.
After the insults, he provided a list of seven expenditure items that are believed to have consumed the whopping GH¢1.1 billion in six years.
These are payment of commission to Lotto Marketing Companies, payment of fees to the technical service providers, statutory payments to the Consolidated Fund, payment of salaries, allowances and other benefits to the employees of the authority, cost of day-to-day administration and operations of the NLA, payment for contracts executed by individual companies and what he termed other financial expenses of the authority.
Breakdown conspicuously missing
Curiously, the NLA did not state how much each of the seven expenditure items cost and whether the total expenditure equals the GH¢1.1 billion positive balance recorded in the six years.
GH¢1.1 billion positive revenue balance in 6 years Data sighted by this paper reveals that the NLA made positive revenue balance of over GH₵1.1 billion (GH¢1,109,627,210) after paying all prizes (wins) in six years.
GH¢2.2 billion sales recorded in 6 years
Between 2014 and 2019, the NLA made sales of over GH₵2.2 billion (GH₵2,206,721,287).
GH¢1 billion prizes (wins) in 6 years
On the other hand, total prizes (wins) during the six-year period was a little over GH¢1 billion (GH¢1,097,094,077).
NLA made GH¢1.1 billion after paying wins
When the total prizes (wins) is deducted from the total sales, the NLA made a positive revenue balance of over GH¢1.1 billion (GH¢1,109,627,210) after paying all prizes (wins) in six years.
GH¢316.1 million sales, GH¢158.4 wins in 2014
The NLA data shows that in 2014, the company made sales of GH¢316.1 million (GH¢316,122,456) as against GH¢158.4 million (GH¢158,440,563) prizes (wins).
GH¢157.6 million positive balance in 2014 When the prizes (wins) is subtracted from the sales, it translates into GH¢157.6 million (GH¢157,681,893) net revenue.
GH₵362.8 million sales, GH¢173.8 million wins in 2015 For 2015, the NLA recorded GH¢362.8 million (GH¢362,877,051) compared to prizes (wins) of GH¢173.8 million (GH¢173,814,714).
GH¢189 million positive balance in 2015 This means that the authority raked in GH¢189 million in (GH¢189,062,337) net revenue in the year 2015.
GH¢397.5 million sales, GH¢205.6 wins in 2016
In the year 2016, the NLA recorded GH¢397.5 million (GH¢397,528,701) sales as against GH¢205.6 million (GH¢205,695,944) prizes (wins).
GH¢191.8 million positive balance in 2016
This means that after paying prizes (wins) in 2016, the NLA kept GH¢191.8 million (GH¢191,832,757).
GH¢401.5 million sales, GH¢209.2 wins in 2017 The data sighted by this paper also showed that the NLA’s sales for 2017 was GH¢401.5 million (¢401,561,166), compared to GH¢209.2 million (GH¢209,298,538) prizes (wins).
GH¢192.2 positive balance in 2017 This leaves a positive balance of GH¢192.2 million (GH¢192,262,628) for the NLA.
GH¢380.9m sales, GH¢179.3 wins in 2018
In 2018, sales made by the NLA amounted to GH¢380.9 million (GH¢380,911,838) while prizes (wins) hit GH¢179.3 million (GH¢179,326,989).
GH¢201.5m positive balance in 2018 This resulted in a positive revenue balance of GH¢201.5 million (GH¢201,584,849).
GH¢347.7m sales, GH¢170.5m wins in 2019 The data revealed that the NLA’s sales for 2019 was GH¢347.7 million (GH¢347,720,075) as against GH¢170.5 million (GH¢170,517,329) prizes (wins).
¢177.2m positive balance in 2019 This leaves a positive revenue balance of GH¢177.2 million (GH¢177,202,746).
GH¢161.5m sales in first 7 months of 2020
The data indicates that the NLA’s sales for the first seven months of 2020 amounted to GH¢161.5 million (GH¢161,557,984).
GH¢89.9m wins in first 7 months of 2020
On the other hand, prizes (wins) amounted to GH¢89.9 million (GH¢89,784,674) for the same period.
GH¢71.7m positive balance in first 7 months of 2020
This means that the NLA retained GH¢71.7 million (GH¢71,773,310) revenue for the seven-month period.
The local union of the Financial Business Services Employees Union (FBSEU), of the NLA chapter, appealed to President Akufo-Addo not to extend the contract of the authority's director-general, Mr Kofi Osei-Ameyaw.
According to them, his re-appointment would incur the wrath of staff and all Lotto Marketing Companies (LMC) and partners.
Subsequently, President Akufo-Addo relieved Mr Osei-Ameyaw and his deputy of their jobs.
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