NFF Admits Misappropriation of N1,372,996,192.40

1.6billion Naira World Cup funds; NFF finally exposed

....Football house Indicts Chris Giwa over missing N140m

By Admin

www.bsnsports.com.ng can reveal that the Nigeria Football Federation has admitted to have misapplied and misappropriated the sum of N1,372,996,192.40.

It was also disclosed that Ambassador Chris Giwa spent the sum of N140million during his short stay at the NFF while the crisis lasted.

In a one-paged document signed by Mohammed Cheku Salihu, the Director Finance and Administration and endorsed with the official stamp of the Office of the President, NFF Abuja, titled: ‘retirement of World Cup funds’ 16 items were listed.

However, the first to the 11th item on the document were all paid for by FIFA either before or after the tournament. These according to the document are:

*Daily allowances for players/officials ($126,771)

*Appearance fee for 3 friendly matches ($327,000)

*Return tickets for players/officials ($246,000)

*Daily allowances for competitions proper (15 days) at ($142,000)

*Estacode for the delegation including advance party ($613,858)

*Hotel accommodation ($200,000)

*Local transportation of delegates ($150,000)

*Team and delegation insurance ($286,000)

*Match tickets and others ($150,000)

*Winning bonus for players/officials (prelim) ($1,392,000)

*Return tickets for players from Russia (187,600)

NFF letter to Ministry over World Cup expenses

One very great feature of the entire retirement is that all the figures end in round digits. The figure rather look allocated based on estimates. This is a very rare occurrence in reality.

The assumption is that, may be the NFF just rounded all gotten figures without seeking to get the details of the actual costs expended. This is a hole that can cause a new saga.

Misapplication of funds: Four items are in clear obstructions of the nation’s financial regulation. The items had the label of ‘borrowed.’ They are:

Borrowed for U-20 women team (to be returned) ($168,500)

Borrowed for U-20 women team (to be returned) ($68,500)

Borrowed for Super Eagles Seychelles (to be returned) ($158,000)

Borrowed for U-17 to Niger (to be returned) ($54,615)

These four items total the sum of $749,615. One item that is not certain is in the original approval for the World Cup expenditure is that which is titled ‘others’ which has an expenditure of $300,000.

The silent revelation was lodged on the lower side of the page which was scripted as “monies left in the account (spent by Amb. Giwa). The value is N140,000,000.00” This interprets that for the period that Ambassador Chris Giwa took over the NFF on the strength of the purported Supreme Court decision, he had spent N140m.

By admittance, of the N1.6billion released by the Federal Government, the 16 items listed in the retirement document, $4,470,844.00 was spent which was calculated at N307.00 to the Dollar amounting to N1,372,996,192.40. If the money spent by Ambassador Chris Giwa is added, that leaves a total of N1,512,996,192.40.
It is sad that there was no explanation as to whether Ambassador Chris Giwa was asked as to how he spent the monies ascribed to him in such a short period of time.

Credit: nigeriasportsmouthpiece.org