THE Nigeria Football Federation (NFF) has debunked recent reports that it is mismanaging funds it receives from FIFA and the Confederation of African Football (CAF).
The national governing body made the clarification following speculation on social media that it cannot account for the money it regularly receives from the global and continental ruling bodies.
“The Nigeria Football Federation finds it expedient to reiterate that the monies it receives from world football-governing body, FIFA and the continental governing body, CAF, like other Federations, are usually tied to specific purposes and not gifts to the Federations,” the organisation said in an official statement today.
“This fresh clarification has become necessary in view of misinformation by some fellows on social media that the Federation ‘collects’ millions of dollars from FIFA on an annual basis, as if such monies were gifts to the Federation.”
The NFF explained that every money received from FIFA or CAF is tied to a specific purpose, and both FIFA and CAF send their auditors to audit the accounts in which the monies are received at the end of every year.
The body explained that monies meant for development purposes are usually tied to specific projects and programmes, while the FIFA Forward funds are also properly specified and under strict adherence to financial regulations, compliance, monitoring and auditing at every stage of the project or programme.
“FIFA Forward projects, such as the ongoing NFF/FIFA Players’ Hostel and new training pitches inside the MKO Abiola National Stadium, are subjected to strict controls, monitored and verified at every stage of the work,” NFF added.
“Every stage is verified, assessed and sanctioned before further monies are released to the FIFA-approved consultants, to whom the monies are paid directly.”
The federation described the reports as “mischief of the individual reeling out fictitious figures on social media”, explaining that it costs big money to organise national team matches.
The federation added: “The NFF is a disciplined organisation that operates prudent and strict financial protocols that are within global financial best practices.
“The body has regularly presented its audited account, prepared by our auditors, PriceWaterhouseCoopers (known for its global credibility and integrity) on the floor of the Congress at every Annual General Assembly.”