Nigeria Football Federation (NFF) finally has finally distributed long awaiting FIFA football Restart Funds to all stakeholders of the game in the country.
The money which is an accumulation of grants from FIFA, CAF, and NFF Sponsors is aimed at cushioning the effects of Covid-19 on teams and also aid their preparation ahead of the new season.
The decision which was reached at the Executive Board Members meeting on the 10th of August held via video the conference featured among many other football developmental issues.
“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 Dollar Only) to be shared across the various football clubs and governing bodies of the various Leagues.”
The leagues to benefit are 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 season.
The Board noted that the “total the 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).
NFF has tentatively scheduled the new football season to starts in September/ October this year after last the season was cancelled due to the COVID-19 pandemic.
According to the statement issued by the NFF Head of Communication Ademola Olajire added: “the Payments is to be made in Nigerian Naira (NGN) at the Official Central Bank of Nigeria (CBN) Rates. This is because the payment is coming through CBN and thus CBN will do the conversion and pay in NGN.
“Payment for Men’s Football will be made in two tranches in line to the schedule of payment from FIFA (FIFA is paying the funds in two tranches of $500,000 each over a period).
“The LMC opted out of the distribution to augment the distribution to the 20 NPFL Participating Clubs.
“The CBN the official exchange rate used in the conversion of the USD $ to Nigeria NGN is only indicative and subject to change. The tentative exchange rate would be determined by the official CBN rates on the date of payment”, the statement said
