Sports
Football Federation Still Broke – Sources
Sources within the football authorities have disclosed that the Nigeria Football Federation (NFF) is broke despite seeing their accounts unfrozen by the Economic and Financial Crimes Tribunal.
Last week, the EFCC released the moratorium on three of the NFF’s operational accounts after nearly five months.
Two of those accounts contained $6 million and N144 million respectively.
But the Glass House is deeply indebted to the National Sports Commission, which has funded its programmes during the period of the moratorium on their finances, and had to pay back their debts.
The situation left the NFF just about back in the red, leaving scheduled camping programmes for the national teams on the brink.
This financial year, the NFF has budgeted N6.8 billion, with the bulk of the financing expected to come from government coffers.