Sports
Central Bank of Nigeria’s Historic Role in Sports Sponsorship and the Urgency of Continuing Corporate Social Responsibility Initiatives
The Central Bank of Nigeria (CBN) has stood as one of the most enduring pillars of governance since its establishment in March 1958. Beyond its fiscal responsibilities, the CBN is expected to engage in corporate social responsibility (CSR) within its host community. Over time, the CBN has utilized various means to disseminate information and fulfill its CSR obligations, with sports emerging as a particularly effective tool due to its ability to resonate with diverse segments of society.
Through its sponsorship of sporting events, the CBN has successfully connected with the populace while promoting its CSR initiatives. Sporting events such as tennis, golf, and football have served as platforms for not only disseminating information but also creating opportunities for aspiring athletes. The appeal and widespread viewership of these sports have enabled the CBN to reach a broad audience, thereby fostering community engagement and social impact.
For instance, the CBN-sponsored tennis events have propelled talents like Nduka Odizor to international acclaim, with significant achievements in the ATP rankings. Similarly, numerous young athletes have leveraged the platform provided by CBN-sponsored tournaments to secure scholarships abroad, paving the way for their professional careers and contributing to the country’s sporting legacy.
Despite these successes, recent developments indicate a shift in the CBN’s approach to sports sponsorship. The foot dragging on sponsorship of annual golf tournaments, football competitions, and the renowned CBN tennis open has raised concerns among stakeholders. While change in leadership may have prompted this delay , the potential impact on youth development and community engagement cannot be overlooked.
In a time when youth empowerment and engagement are paramount, the delay in response to issues pertaining to youth-oriented sports programs seems counterproductive. The significant investments made by the government in youth-centric initiatives underscore the importance of sustained support for sports development. Furthermore, aligning with sports initiatives not only fosters community goodwill but also promotes national unity and identity.
As the country navigates through challenging times, it is imperative for government institutions like the CBN to prioritize initiatives that directly benefit the youth and foster social cohesion. Embracing and investing in sports programs can serve as a catalyst for positive change, reinforcing the government’s commitment to youth empowerment and national development.
Amid the increasing withdrawal of private companies from Nigeria and the challenges in securing sponsorship from the private sector for sports, it would be a significant misstep. It could also tarnish the reputation of President Bola Ahmed Tinubu’s government if the Central Bank of Nigeria (CBN) were to withdraw its long-standing sponsorship of sporting events.
For three to four decades, the CBN has been a key sponsor of these events, and the omen around the delay in response to issues partaining to sports would have far-reaching implications.
Therefore, maintaining support for sports initiatives is not only prudent but essential for realizing the nation’s collective aspirations.
Sports
King defeats 21 others to win RSFL ultimate skills challenge
New Dawn FC star, Emmanuel King Wednesday defeated 21 other players to emerge champion in the maiden edition of the Ultimate Skills Challenge.
The challenge was organised by the Rising Star Football League (RSFL) and held at the Bwari Township Stadium, Abuja.
King had tied on 71 points with his closest challenger, Philip Onyedika but clinched the honour with a tie-breaker.
He went home with N250,000 while Onyedika who came second got N100,000. John Godwin came third and smiled home with N50,000. All the twenty-two players received N10,000 as appearance fees.
“It was a beautiful program and I am grateful to the management for this opportunity to help the young and grassroots footballer to grow. I am glad I emerged champion after a close tie with my opponent,” he said.
Speaking with the league’s project supervisor, Ifeanyi Kama, the challenge was instituted to keep the players busy after the league had ended a few weeks back.
“It is done for the best players in the league. It is an event to keep them going, not to be idle, and encourage them after the league has ended. We are trying to keep the energy up there. We are trying to showcase these talents to the world,” he said.
He further sought more partnerships from brands as it is working with the FCT football association to develop the players.
“Basically, we are currently working with the FCT FA and affiliated with them for this program. We can’t do this alone as we need their support to promote these players,” he noted.
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