By Darshana Sanjeewa Balasuriya   

The National Lotteries Board (NLB) has come under fire following revelations in the country’s 2022 annual audit report regarding unclaimed prize money and uncredited funds. 

The report highlights several instances where the NLB has failed to adhere to financial regulations and has retained funds that should have been credited to the Consolidated Fund.   
One particularly concerning issue is the failure to credit unclaimed prize money from the “Hadahana” lottery. The report states that a sum of Rs. 12 million had remained unclaimed from January 27, 2022, to June 30, 2022.   

This money should have been credited to the Consolidated Fund as per the provisions of the Act. However, the NLB has retained the funds in its own account.   

Another issue raised in the audit report is the NLB’s retention of Rs. 2,397 million as at December 31, 2022. The Act stipulates that the NLB should credit the balance after deducting the expenditure specified in the Act from the income of the lottery tickets to the Consolidated Fund. However, the NLB has failed to do so, according to the report.   

Meanwhile, the report stated that the Development Lotteries Board (DLB) has remitted the total profit after tax for the year 2022, amounting to Rs. 3,211 million, to the President’s Fund.   
According to the Development Lotteries Board Act No. 20 of 1997, the entire profit from lotteries conducted by the DLB shall be remitted to the President’s Fund.   

The President’s Fund is a special fund established to utilize funds for various purposes, including national development projects, welfare programmes and social initiatives.