In this second part of the conversation between SiGMA News and Aso Obinna, the CEO of Select Punters shifts the focus to people. He explains why, in the journey forward for Nigeria, consumer protection, smart enforcement, and legal certainty are essential. He discusses how innovative solutions such as simulated betting and the use of different levels of licenses for informal operators are key to the future success of the industry.
Protecting the people behind the numbers
Big participation brings big responsibility. Sixty million daily users represent households, not statistics. Addiction and fraud remain real risks, and reputation depends on protection.
Obinna insists safeguards must evolve. “With 60 million people engaging daily, consumer protection is no longer optional; it is the backbone of the industry’s longevity. While we fully support and encourage a National Self-Exclusion Registry, where a user can blackout their access across all 100+ licensed operators instantly. We believe regulators need to look deeper into why people play. Our research at Select Punters shows that a huge percentage of users are in it purely for the entertainment and the thrill of the prediction, not just to make money.”
That insight reframes the debate. Not every player seeks profit. Many simply enjoy the game. Entertainment motives demand different tools.
He borrows ideas from financial markets. “Drawing inspiration from the financial markets, where traders use demo accounts to learn without risk, we have introduced ‘paper betting.’ This allows users to engage with simulated accounts to satisfy their love for predicting games without risking their money. By normalising simulated betting for entertainment, we provide a safe outlet for those who just love the game, which we have seen drastically reduce impulsive, real-money betting. If regulators prioritise these kinds of innovative, psychological tools alongside traditional enforcement, we can protect the most vulnerable while still fostering a thriving, legal industry built on healthy participation.”
Simulation offers practice without consequence and lowers pressure. It also reduces reckless decisions and turns gambling into play rather than desperation. Protection, Obinna argues, strengthens sustainability.
Outcompeting Nigeria’s informal market
The shadow market in Nigeria persists despite efforts of reform. Unlicensed agents still roam the streets of the neighbourhoods, and the cash transactions remain invisible and untouchable. Enforcement alone is not the solution.
Obinna prefers economics over policing. “The truth is that you can’t simply out-police the informal market; you have to outcompete it. Despite years of regulatory effort, the informal ecosystem thrives because for many small-scale agents, the’ entry fee’ into the formal legal space is just too high. At Select Punters, we believe the key to reducing illegal operators without killing growth is tiered licensing. A way forward could be to replace this one-size-fits-all model, which demands millions of Naira in bank guarantees from a small street shop, with micro-licenses that reduce the barriers of entry.”
“More people will be encouraged to take part if the barriers to entry are reduced. They will be formalised, increasing our tax base. More street shops will be legitimate, and our citizens will be protected. Enforcement should be smart, not soft. “By making it affordable for our informal economy players to join us in the regulated economy, we bring them into our tax net and subject them to our consumer protection regulations. This is not a case of soft enforcement; this is smart enforcement. We should stop seeing all unregistered agents as criminals and start seeing them as potential partners who need a realistic bridge to our formal economy,” he added.
The message should be: Make it cheaper to be legal than illegal. Technology will provide us with the tools to close all loopholes, and incentives will take care of the rest.
Competing on a continental stage
Africa’s gaming scene is heating up fast. Kenya and South Africa’s markets compete aggressively. Capital flows toward stable environments. Policy clarity becomes a competitive weapon. Obinna believes Nigeria already has scale.
Now it needs certainty. “To remain the ‘Crown Jewel’ of African iGaming alongside South Africa and Kenya, Nigeria must offer legal certainty. International investors don’t fear high taxes as much as they fear unpredictable taxes. Our priority must be a 10-year regulatory roadmap. If an investor knows that the rules of the game won’t change with every election or court sitting, Nigeria will easily attract the next wave of global tier-1 operators and gaming technology providers.”
Consistency, he argues, builds trust. Trust attracts capital, capital builds infrastructure, and infrastructure sustains growth.
A country at a crossroads
From Obinna’s perspective, Nigeria finds itself at a fragile crossroads. Momentum, demand, and talent are all present, but what remains to be determined is alignment. Regulators, operators, and lawmakers all continue to act independently.
A sense of unified direction is necessary. Not total federal control or chaotic fragmentation. In his vision, there are no extremes—no all-encompassing federal government control and no chaotic fragmentation. What is needed is balanced regulation that makes licensing easy, has clear and effective regulation in place, and offers strong consumer protection. The implications are not just about gaming; they are about employment and investment, digital payments and fintech growth, and how Nigeria positions itself in the global marketplace.
The story of gaming in Nigeria is still being written, and for Obinna, it is about collaboration. Policy must finally catch up with the people. Only then can the powerhouse operate at full speed.
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