Independent audit report set up to check the sponsorship funds paid to the NFF has shown that the Glass House made about N10.7billion in 10 years from 11 out of the 21 corporate organisations that paid them the monies during the period under review.

According to the report made available to www.gongnews.net it showed that 10 of the corporate organisations’ monies did not reflect in the account books of the NFF. This gaping hole was heavily criticized in the report leaving room for corruption of the highest order.

A source who know added that, “some individuals and companies were mentioned to be prosecuted for their roles in the management of the sponsorship funds in question. Shehu Dikko was prominently mentioned since audit trail of the funds and its utilisation showed he was appointed as a financial consultant resulting in divided interest.”

www.gongnews.net investigations revealed that the NFF had made a total of N5,288,990,000.00 and $1,550,000 (N5,580,000,000.00) from 11 of the 21 corporate organisations between 2008 and 2018. How much 10 of the corporate organisations paid remain sketchy and unreliable.

The 11 corporate organisations out of 21 whose accounts could be traced include the following facts which had been submitted to President Muhammadu Buhari who had approved the prosecution of “anyone found culpable of any of the offences.” They are:

SN Sponsor Amount Receiver
Cadbury Nigeria Plc N333,890,000.00 Padmozi Sports Limited
Coca-Cola Nigeria Ltd $800,000.00 FCD Consulting Ltd
IX Bet $150,000.00 NFF
Aiteo Group $600,000.00 NFF
Brila Sports Radio N3,000,000.00 NFF
Winn (Simba Group) N22,850,000.00 Hotsports Ltd
Wapic Insurance N10,000,000.00 FCD Consulting Ltc
Guinness Nigeria Plc N1,517,500,000.00 Padmozi Sports Ltd
Globacom Nigeria N2,716,750,000.00 Padmozi
IGI Insurance N10,000,000.00 NFF
Nigeria Breweries N675, 000,000.00 Padmozi, NFF and LMC
Total

It would be recalled that on 16th August 2018 http://gongnews.net/pinnick-allegedly-diverts-n6-72bn-sponsors-funds/ reported “We can reveal to you that at the end of the outgoing 2017/2018 football season which should make the fourth year of the Amaju Pinnick board, that sponsors funds worth N6.72billion (gross but not net) may have suffered some form of misapplication by the board of the Nigeria Football Federation (NFF). This is given that nobody else in the federation knows what sports kit manufacturers, Nike paid the organisation especially with the success of selling over 3million replica during the 2018 World Cup in Russia.

However, each of the jersey put on sale went for £41. Logic is, if 3million jersies were reportedly sold, then, a gross of £120m would have been made. If computed at the exchange rate of N460, that would amount to N5.52billion.

As at the last count, the sum of public monies kept in private accounts being sponsors funds include the following:

  1. Monies that passed through the NFF Accounts include Nigeria Breweries N450m, Emzor Pharmaceuticals N40m, Zenith Bank N150m. In all, sponsors paid in the current season a total of N640m to the NFF.
  2. Monies in the accounts of Financial Derivatives include Aiteo Group N240m and $600,000. For the Aiteo FA Cup N500m was paid. Peak Milk N40m, Pay Porte N80m, Big Bull N100m, Ixbet $150,000 while Simba paid N20m, Wapic Insurance N100m, Coca-Cola $800,000 and TomTom N60m

Nobody in the federation knows how much has been collected from the Nike deal which was signed singlehandedly by the then President, Amaju Pinnick.

Meanwhile, there are sponsors whose amount of monies they paid did not reflect anywhere in the official account books of the NFF which include Globacom, NDDC, TGI Limited, Guinnes Plc., SuperSport, FIFA, CAF, Brila Sports, IGI Insurance.

Insider sources claim that First Derivatives Company Lited were brought on board to circumvent the Treasury Single Account (TSA) and the Central Bank of Nigeria (CBN) to warehouse all revenues accruing to the NFF. “Monies deposited into their account does not get to the NFF.”

We can assert that private individuals pay monies and donations to the First Derivatives accounts. For instance, Chief Ifeanyi Ubah whose company pays the salaries of Gernot Rohr paid over $500,000 to the account.

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