FG Intervention Fund to NFF Increases to #17 Billion – Sports Minister
Minister of Sports Development, Senator John Owan Enoh, announced that the Federal Government’s approved intervention fund of One million and three hundred thousand US Dollars for the Nigeria Football Federation (NFF) has appreciated in value, now totaling #17 billion.
The increase in value is attributed to the rise in the exchange rate of the dollar to the naira since the initial approval in January.
The fund was approved by President Bola Ahmed Tinubu, just before the commencement of the 2023 African Nations Cup (AFCON) in Cote D’Ivoire.
The approved sum was intended to settle outstanding payments owed by the federal government to the Super Eagles and other national teams, covering coach salaries, allowances, and promises spanning up to 15 months for the senior national team, female teams, and the U-20 national team.
The delay in disbursing the fund to the NFF resulted in the increased value when converted to naira, reflecting the fluctuation in the exchange rate over the past few months.
