NLB finance and administration manager Dave Saeluzika said the money is used for, among other things, reviewing and processing promotional competition proposals for various businesses, verification of prizes and supervision of the promotional competition draws, among other things.
From all promotional budgets in various businesses, the board collects five percent which is used for the boardÃ¢â‚¬â„¢s administrative costs and operating duties.
Ã¢â‚¬Å“NLB is not subvented by government; hence, the revenue is used for its administrative costs and operating duties such as review and processing of the promotional competition concepts/proposals to ensure compliance with terms and conditions of promotional competitions as stipulated in the policy document and certification thereon, supervision of the promotional competition draws countrywide to ensure compliance and fairness, follow-up of prize recipients and verification of prizes received and dealing with matters of default, breach by promoters of promotional competitions,Ã¢â‚¬Â said Saeluzika.
Companies promote their businesses depending on the prevailing market forces, budgets and general economic environment and the board does not have set targets of revenue collected in a particular period.
Ã¢â‚¬Å“Promotional competitions are conducted by the industry for marketing their companies and relevant products, launching of new products, business etc. Companies promote their businesses depending on the prevailing market forces, budgets and general economic environment. As such they are not compelled to market their businesses and no targets are, therefore, set by NLB,Ã¢â‚¬Â Saeluzika said.
NLB was established by an Act of Parliament as an executive non-departmental public body and is governed by the Lotteries Act. The board came into being on December 18 2003 with the appointments of its first directors.