{"id":5210,"date":"2022-07-01T17:19:30","date_gmt":"2022-07-01T17:19:30","guid":{"rendered":"https:\/\/koriatlaw.com\/?p=5210"},"modified":"2022-07-01T17:19:30","modified_gmt":"2022-07-01T17:19:30","slug":"casino-licence-in-oyo-state-requirements-costs-procedure-and-timelines","status":"publish","type":"post","link":"https:\/\/koriatlaw.com\/2026\/2022\/07\/01\/casino-licence-in-oyo-state-requirements-costs-procedure-and-timelines\/","title":{"rendered":"CASINO LICENCE IN OYO STATE: REQUIREMENTS, COSTS, PROCEDURE AND TIMELINES"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/koriatlaw.com\/2026\/wp-content\/uploads\/2022\/02\/BUSINESS-LAWYER--1024x1024.jpg\" alt=\"\" class=\"wp-image-5083\" srcset=\"https:\/\/koriatlaw.com\/2026\/wp-content\/uploads\/2022\/02\/BUSINESS-LAWYER--1024x1024.jpg 1024w, https:\/\/koriatlaw.com\/2026\/wp-content\/uploads\/2022\/02\/BUSINESS-LAWYER--300x300.jpg 300w, https:\/\/koriatlaw.com\/2026\/wp-content\/uploads\/2022\/02\/BUSINESS-LAWYER--150x150.jpg 150w, https:\/\/koriatlaw.com\/2026\/wp-content\/uploads\/2022\/02\/BUSINESS-LAWYER--768x768.jpg 768w, https:\/\/koriatlaw.com\/2026\/wp-content\/uploads\/2022\/02\/BUSINESS-LAWYER--650x650.jpg 650w, https:\/\/koriatlaw.com\/2026\/wp-content\/uploads\/2022\/02\/BUSINESS-LAWYER--370x370.jpg 370w, https:\/\/koriatlaw.com\/2026\/wp-content\/uploads\/2022\/02\/BUSINESS-LAWYER--75x75.jpg 75w, https:\/\/koriatlaw.com\/2026\/wp-content\/uploads\/2022\/02\/BUSINESS-LAWYER--760x760.jpg 760w, https:\/\/koriatlaw.com\/2026\/wp-content\/uploads\/2022\/02\/BUSINESS-LAWYER-.jpg 1502w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>1. Introduction<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Oyo State is a Southwestern State in Nigeria with\nabout 28,454 square kilometers and the 5<sup>th<\/sup> most populous State in\nNigeria with estimated population of over 10,000,000. Oyo State is bordered to\nthe north by Kwara State, to the east by Osun State, and to the southwest by\nOgun State and the Benin Republic. It was the capital and commercial hub of the\nold western region.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Gaming activities in Oyo State is regulated by the Oyo State Gaming Board. In Oyo State,\nthere are two licensing categories for casino, <strong>Casino\nA<\/strong><strong> <\/strong>or <strong>Tier <\/strong><strong>A<\/strong> (for\nHotels, Guest Houses, Motels, and Executive Inns, etc.)\nand <strong>Casino B<\/strong> or <strong>Tier <\/strong><strong>B<\/strong> (Stand Alone Establishment and <strong>Online\ncasino)<\/strong><strong>.<\/strong><strong> <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Casino\nA\/<\/strong><strong>Tier A<\/strong>\ncovers casino activities on hotel premises. The tariff in this tier includes a\nlicence fee, and where gaming machines are used, a yearly payment is made on\neach of the machines, alongside licence renewal fee. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Casino\nB\/<\/strong><strong>Tier B<\/strong>,\non the other hand, covers all other casino activities outside the hotel\npremises, retail or online. The tariff is determined per location.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Please note that a Casino Licence in Oyo State, irrespective of the tier, is valid for a period of 1 year and\nrenewable annually.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The recognized authority that makes provision for\nissuing gaming licence to operators in Oyo state is the Oyo State Gaming Board.\nThey are the body responsible for issuing gaming licence to sports betting\nplatforms, casino, lotto &amp; lottery promoters, promotional competitions\/ lotteries,\nand other gaming activities. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>2.\nRequirements for Casino Licence in Oyo State<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An entity seeking to be licensed as a casino game\noperator must be incorporated with the Corporate Affairs Commission (\u201cCAC\u201d)\nwith a minimum share capital of N20,000,000. <strong><em>See our article on the requirements\nfor incorporation <a href=\"https:\/\/koriatlaw.com\/2026\/costs-and-requirements-of-company-registration-in-nigeria\/\">here<\/a><\/em><\/strong>.\n<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The requirements for obtaining a casino licence in Oyo\nState are as follows:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>i. Application\nLetter:<\/strong> The application letter is addressed to Director General of Oyo State Gaming\nBoard;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>ii. Payment of\nApplication\/Processing Fee: <\/strong>The application fee for Casino A is N500,000 (Five\nHundred Thousand Naira) while for Casino B, the application fee is N200,000\n(Two Hundred Thousand Naira);<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>iii. Documentation:\n<\/strong>A\ncopy of the following documents is required:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(a) Certificate\nof incorporation and other incorporation documents<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(b) A detailed\nbusiness proposal on the proposed\/existing casino and gaming machine operations\ncontaining the following information:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Business\nStructure detailing:<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">(i) List and details of all directors and key\nmanagement personnel.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(ii) Tax clearance certificate of directors (at least\none (1) director in the last one (1) year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(iii) Descriptions of operations and management structure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(iv) An\nanalysis that demonstrates a clear understanding of the casino gaming industry.\nThe analysis must include the names of key players. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(v) Current gaming licences held by\nthe Applicant in any\nother State or Country (if any).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(vi) Promotional plan.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Financial\nInformation\/Structure detailing:<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">(i) Management account of the company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(ii) Bank statement of the company for the last one (1) year in\nsupport of the financial plan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(iii) A five (5) year projection on profit and loss account, balance sheet\nand cash flow analysis. This should cover the licence\nfee and monthly gaming tax.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(iv) Nature and magnitude of financing and\ncapital investment. Indicate if foreign investment is involved in the business\nif any, the terms of investment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(v) Capital budgets showing set up cost and\nasset schedule over five (5) years.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Details of Casino\nOperations including:<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">(i) Location of casino, <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(ii) Proposed\/existing brand name, logo, colors\ntrademark, <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(iii) Types of table games and machine games to be\noffered, <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(iv) Number of gaming machines to be deployed \u2013note that\nall machines must bear the applicant\u2019s brand, <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(v) Know Your Customer (KYC) processes, <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(vi) Price structure, <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(vii) Rules and participants\u2019\ncode of practice and <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(viii) Responsible\n&amp; accountable gaming\npolicies. For example, policies in place to ensure users bet responsibly, ensure\nthat no user is under the age of 18years among other policies.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Technical\nstructure <\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">(i) Floor\nplan of casino operations including layout of tables and slot machines<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(ii) Details\nof table games manufacturers\/suppliers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(iii) Details\nof slot machine manufacturers\/suppliers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(iv) Surveillance\nsystem \u2013 this should include CCTV planned coverage for the gaming area and\ngeneral gaming environment<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(v) Casino\nmanagement system which includes; Customer Management, Record Management and Capture of transactional\ninformation\/gaming machine.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(vi) System\nArchitecture<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(vii) Back\nup Policy and Business Continuity Policy<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(viii) Data\nProtection and Recovery Policy<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(ix) Accounting\nsoftware <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is important to note that an applicant company for a casino licence in Oyo State cannot be wholly-owned by foreigners. At least one\n(1) Nigerian is required to hold a minimum of fifteen percent (15%) of the shares in a casino\ncompany having foreign participation,\nto achieve indigenous participation and local content requirement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also note that every other casino that does not fall within\nthe scope of <strong>Casino A<\/strong><strong> <\/strong>or <strong>Tier <\/strong><strong>A<\/strong> (i.e., Hotels,\nGuest Houses, Motels, and Executive Inns,\netc.)\nis required to be licensed under <strong>Casino B<\/strong> category and this includes\nonline Casino.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>3.\nEstimated Costs<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A breakdown of\nthe financial requirements for obtaining a casino\nlicense in Oyo State can be\nfound in the table below:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"\"><tbody><tr><td> <strong>TYPE OF LICENCE<\/strong>   <\/td><td>\n  <strong>SHARE CAPITAL<\/strong>\n  <\/td><td>\n  <strong>INCORPORATION COSTS (N)<\/strong>\n  <\/td><td>\n  <strong>APPLICATION FEE (N)<\/strong>\n  <\/td><td>\n  <strong>LICENSING FEE (N)<\/strong>\n  <\/td><td>\n  <strong>RENEWAL FEE (N)<\/strong>\n  <\/td><td>\n  <strong>GAMING MACHINES IN PREMISES<\/strong>\n  <strong>(N)<\/strong>\n  <\/td><td>\n  <strong>BANK GUARANTEE<\/strong>\n  <strong>(N)<\/strong>\n  <\/td><\/tr><tr><td>\n  CASINO A\n  (HOTEL)\n  &nbsp;\n  <\/td><td>\n  20 Million\n  <\/td><td>\n  355,000\n  <\/td><td>\n  N500,000\n  <\/td><td>\n  N10,000,000\n  &nbsp;\n  <\/td><td>\n  N4,000,000\n  &nbsp;\n  <\/td><td>\n  N15,000 for each machine annually\n  &nbsp;\n  <\/td><td>\n  N10 Million \n  <\/td><\/tr><tr><td>\n  CASINO B\n  (STAND ALONE)\n  <\/td><td>\n  20 Million\n  <\/td><td>\n  N355,000\n  <\/td><td>\n  N200,000\n  <\/td><td>\n  N2,000,000\n  <\/td><td>\n  N1,000,000\n  &nbsp;\n  <\/td><td>\n  N15,000 for each machine annually\n  &nbsp;\n  <\/td><td>\n  N2 Million\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Please note here may be other applicable costs relating to feasibility study report and business proposal and other documentation and miscellaneous expenses for the licensing process.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Please note that a casino company cannot be successfully registered by the CAC without first obtaining the approval and licence of the National Lottery Regulatory Commission (\u201cNLRC\u201d). The NLRC has a separate licensing requirements and costs for casino games.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>4. Estimated Timeline<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Upon filing of all documents and payment of licence\nfee (or not less than 70% of the total licence fee, the applicant company will\nbe issued with an <em>Approval In Principle<\/em>\n(\u201cAIP\u201d) and the AIP will be valid for ninety (90) days. The AIP is a temporal\nlicence to commence the casino game in which the conditions for substantive\nlicence will be contained.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Gaming board requires a minimum\nof 10 to 14 working days to conduct due diligence on every application before\nissuing the substantive licence. The substantive licence will only be issued upon\nfulfilment of ALL the stated conditions for substantive licence. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Oyo State Gaming Board may advise the intending gaming operator to fast track the whole process by including a Gaming Laboratory International (\u201cGLI\u201d) certification. With the presentation of a GLI certificate, the timeline for inspection which ordinarily is expected reduce the timeline to seven (7) working days. It is believed that the GLI authorities must have conducted an elaborate investigation on the gaming activities of any gaming operator that has been issued with GLI certification.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">********************************************************<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong>About KORIAT &amp; CO.<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>We are a growing commercial law firm in Lagos and Abuja. The above article is not legal advice and does not automatically make our readers our clients unless they specifically instruct us to act or represent them in any way.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Please contact Koriat &amp; Co. through admin@koriatlaw.com or 09067842241 if you require additional information about or assistance in making the application for<\/em><\/strong>&nbsp;<em><strong>a money lender\u2019s licence.<\/strong><\/em><a href=\"https:\/\/www.facebook.com\/share.php?m2w&amp;s=100&amp;p[url]=https%3A%2F%2Fkoriatlaw.com%2Ften-10-frequently-asked-questions-on-money-lenders-licence-in-nigeria%2F&amp;p[images][0]=&amp;p[title]=TEN+%2810%29+FREQUENTLY+ASKED+QUESTIONS+ON+MONEY+LENDERS+LICENCE+IN+NIGERIA&amp;u=https%3A%2F%2Fkoriatlaw.com%2Ften-10-frequently-asked-questions-on-money-lenders-licence-in-nigeria%2F&amp;t=TEN+%2810%29+FREQUENTLY+ASKED+QUESTIONS+ON+MONEY+LENDERS+LICENCE+IN+NIGERIA\"><\/a><a href=\"https:\/\/twitter.com\/intent\/tweet?original_referer=https%3A%2F%2Fkoriatlaw.com%2Ften-10-frequently-asked-questions-on-money-lenders-licence-in-nigeria%2F&amp;text=TEN%20(10)%20FREQUENTLY%20ASKED%20QUESTIONS%20ON%20MONEY%20LENDERS%20LICENCE%20IN%20NIGERIA&amp;url=https%3A%2F%2Fkoriatlaw.com%2Ften-10-frequently-asked-questions-on-money-lenders-licence-in-nigeria%2F\"><\/a><a href=\"http:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fkoriatlaw.com%2Ften-10-frequently-asked-questions-on-money-lenders-licence-in-nigeria%2F&amp;media=&amp;description=TEN%20(10)%20FREQUENTLY%20ASKED%20QUESTIONS%20ON%20MONEY%20LENDERS%20LICENCE%20IN%20NIGERIA\"><\/a><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>1. Introduction Oyo State is a Southwestern State in Nigeria with about 28,454 square kilometers and the 5th most populous State in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[274,275,276,20,277,278,269,279,280,103,281,255],"class_list":["post-5210","post","type-post","status-publish","format-standard","hentry","category-publications","tag-casino-licence-in-ibadan","tag-casino-licence-in-nigeria","tag-casino-licence-in-oyo","tag-company-registration","tag-gambling-licence-in-nigeria","tag-gaming-licence-in-nigera","tag-lottery-business-in-nigeria","tag-national-lottery-regulatory-commission","tag-online-casino-licence-in-nigeria","tag-registration-of-business-in-nigeria","tag-registrationofbusinessinnigeria","tag-requirements-for-registering-a-venture-capital-firm-in-nigeria"],"_links":{"self":[{"href":"https:\/\/koriatlaw.com\/2026\/wp-json\/wp\/v2\/posts\/5210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/koriatlaw.com\/2026\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/koriatlaw.com\/2026\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/koriatlaw.com\/2026\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/koriatlaw.com\/2026\/wp-json\/wp\/v2\/comments?post=5210"}],"version-history":[{"count":0,"href":"https:\/\/koriatlaw.com\/2026\/wp-json\/wp\/v2\/posts\/5210\/revisions"}],"wp:attachment":[{"href":"https:\/\/koriatlaw.com\/2026\/wp-json\/wp\/v2\/media?parent=5210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/koriatlaw.com\/2026\/wp-json\/wp\/v2\/categories?post=5210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/koriatlaw.com\/2026\/wp-json\/wp\/v2\/tags?post=5210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}