News Sports

NFF Reveals How ₦772m Received From FIFA, CAF, Sponsors Will Be Shared

NFF picks Danjuma, Others to Head National Teams Coaching Crew

Nigeria Football Federation (NFF) has revealed how the money received from FIFA, CAF and its sponsors will be shared, Daily Times gathered.

The NFF, coming from its executive committee meeting held via Video Conference on August 10, decided on how to distribute the funds round football stakeholders in the country.

In a communique from the football federation, it hailed the efforts of frontline health workers, the NCDC and the Ministry of Health for its response to COVID-19 so far.

READ ALSO: US Open: Former champion Kuznetsova latest to withdraw

However, the crux of the communique, which has long been expected by Nigerians, was how the funds received will be shared to the several sub-groups, football clubs and others hit by the dire realities of the pandemic.

The NFF, in the communique, said in part: “After consultations with the leadership of the Federal Ministry of Youth and Sports, the Board endorsed the proposal from the Secretariat for the lump sum of $2,000,000.00 (Two Million American Dollars Only) to be shared across the various Clubs and governing bodies of the various Leagues, through the Nigeria Professional Football League, Nigeria National League, Nigeria Women Football League and the Nigeria Nationwide League, as a booster for their preparation ahead of the 2020/2021 League Season.  

“The total sum is made up of $1,000,000 (being FIFA’s support for restarting the football season); $500,0000 (being FIFA’s dedicated support for women’s football); $300,000 (CAF’s support to its Member Associations); $200,000 (NFF’s support from Sponsors’ Funds).”

See distribution of the funds received below:

The NFF further revealed that the money allotted to every stakeholder will be paid in naira by the Central Bank of Nigeria.

It also said that the money for men’s football will be paid in two tranches in line with FIFA’s schedule of payment. The NFF added that the League Management Company, managers of the NPFL opted out of being beneficiaries of the support funds to augment the distribution to the 20 NPFL clubs. 

It also said the official exchange rate used by the CBN at the time the money is distributed will be what’s due to every beneficiary mentioned in the breakdown.

About the author

Ihesiulo Grace

Leave a Comment