Kesington Adebutu: My business is the stock exchange of the common man

LAGOS, Nigeria – Chief Executive Officer of Premier Lotto( Baba Ijebu), Chief Kesington Adebutu has said that his business is the stock exchange of the common man. Adebutu who was speaking on TVC said said he has been giving hope to Nigerians through his Premier Loto.

As he puts it, “If you buy your ticket and it gives your hope and within me, because of this hope, it has taken alot of people out of the street, alot from committing crime because they have hope”, he said.

He explained that with his business, people get paid. “Our our is like that of Alajo, we do the collection and we distribute the money”, he said and that government has no business doing lotto. He said in the past regional governments set up lottos which have all got out of existence.

On proposal to VAT operators of loto business, the lotto magnate said it is unfortunate that government is contemplating VAT for lotto without involving stakeholders.

“It is ufortunate that when this sort of things are coming up stakeholders are not caried along”, he said, adding that what government out to do is to charge VAT on winnings that is above the stake of players