The Nigeria Football Federation (NFF) has released its sharing formula for the various support funds it got from the Federation of International Football Associations (FIFA), Confederation of African Football (CAF) and its sponsors.
Rising from a meeting of its executive committee on Monday, August 10th, the NFF announced the endorsement of its proposal by the Ministry of Youth and Sports and other stakeholders.
It said the money, amounting to $2million will be shared in Naira and will be done by the CBN, with the reigning exchange rate to be used in conversion.
The distribution in naira as at the time of its meeting was done at N386/$.
“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 Clubs and governing bodies of the various Leagues, viz 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),” the NFF said in the communique.
By Aledeh
