Economy

Housing Deficit: Firm Targets Homeownership Through Lottery

  • Housing Deficit: Firm Targets Homeownership Through Lottery

A firm, Home Lottery Limited, says it targets to help the country reduce its housing deficit through lottery with houses as the winning prize.

The General Manager of Home Lottery, Mr Oladimeji Oguntoyinbo, said the firm began an initiative, the ‘Win a Home’ scheme in 2013, in partnership with Locke Homes Limited to achieve the target.

While announcing Adegbola Enoch as the July winner, he stated that the scheme, registered with the National Lottery Board, Lagos State Lottery Board and monitored by the Consumer Protection Council, had produced many homeowners since it was initiated.

He said, “On every draw day, the Home Lottery Limited gives out a grand prize of a three-bedroom house and consolation prizes to lucky winners; the scheme involves everybody with terms and conditions.

“Today we have three platforms for people to take part in the lottery and win houses. You can play via sms, you can also play on the Internet using your debit card and through our agent with the home lottery device. It is a scheme for anybody to be a landlord.”

The Head, Lagos office of Consumer Protection Council, Mrs Susie Onwuka, at the raffle draw, said the involvement of the council in the process was to ensure that consumers got value for their money.

She said, “When there are promos like this, we want to ensure that they are genuine, transparent and fair. We also ensure that people get whatever they are promised through the promo.

“Now that we have witnessed the draw, we will check all the prizes stated here today to be original. In case you are the winners, and you don’t get your prize, come to the council and we will be able to intervene.”

A Representative of the National Lottery Regulatory Commission, Mr Johnpaul Nnakaenyi, who also monitored the draw, said existing lottery regulatory act in the country made sure that every process was certified to ensure that those participating in any lottery process were not short-changed.

According to him, the process leading to the emergence of the winner is supervised by the commission.

“We are making sure that everything about lottery process in Nigeria is transparent and no Nigerian should be short-changed and to make sure that Nigerians develop interest and trust in lottery system. The act is used to regulate every lottery process in the country. The home lottery process has also gone through the certification process,” he said.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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