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Central Bank of Nigeria’s Historic Role in Sports Sponsorship and the Urgency of Continuing Corporate Social Responsibility Initiatives

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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.

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NIGERIA BRIMS WITH HIGH HOPES AT OLYMPICS

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Following a brilliant and acclaimed performance of Team Nigeria at the recently held All African Games, Nigeria and its Sports Administration can raise their heads high to savour the refreshing moment, and thereafter reappraise their modes of operation, and their athletes’ performances, with the view to tightening up any loose ends. A review of their chart or calendar of sporting activities and events do indeed collaborate the fact that this year is actually an eventful year in the world calendar of sports.

Nigeria, actually as all other nations in the Olympic family, is focusing on that global fiesta so as to have an emphatic outing and to secure prominent position on the Medals Table of Honour. In the history of Nigeria’s participation in the Olympics, relay has always been one of the nation’s strongest Medal hopefuls. For the first time in history of relay, the Sports Ministry has five male athletes running 45 sec in 400m and three females running 51 secs. While in 100m, two athletes are running 9.99 secs. That is very interesting and exciting.

However, the relay event is highly technical and very advantageous to the country. It is thus the major reason that athletes are allowed to participate in all relay qualifications, including the World Relays which was held in Bahamas this May 2024, where the representation of Nigeria was very high and hopeful. So far, the Ministry is desiring success with great expectation in other sporting events with training in the academic areas, proper placement of professional staff and restructuring of all areas. Undoubtedly this lofty ambition comes with huge commitment, devotion and huge financial involvement.

The much anticipated 34th edition of African Cup Of Nations ( AFCON) which marked the beginning of 2024 sporting events, brought back the lost confidence of sports loving Nigerians especially football fans whom, among other options in the entertaining industry, would prefer to have a better evening relaxation watching football and the natural gift of nature where boys rule the world with their toes.

The Honorable Minister of Sports Development, Senator John Owan Enoh and the Permanent Secretary, Mrs Watti Tunike might have had some constraints when they assumed duty as the 2023 budget was drawn by their predecessors but in their own wisdom, they are intensifying efforts to ensure that the system is not hampered and the country’s sporting events which have the eyes of the world, are positively nudged forward.

It is a resounding tribute to the Hon. Minister that he doggedly fought for the release of N12 billion that was appropriated to enable the Super Eagles’ participation at the AFCON Games. It could be rightly said that his major concentration during the AFCON fiesta, was to rejuvenate the dwindling interest of football fans to what it used to be, which cut across all strata of the nation, state governments and Presidency not being left out. On that score it was a great success.

Now over to athletics. Unarguably, Nigerian athletes represented the country creditably during the recently concluded 13th African Games held in Ghana. It is on record that Nigerian Athletes dominated the podium performance table especially in athletics. New records were also, broken in men’s events, notably Long Jump, 400m and relays. Our athletes’ meritorious participation made them the best in the performance index in Africa. Twenty one medals, which comprised of eleven Gold, six Silver and four Bronze medals in athletics alone, was historic in that event.

Tobi Amusan successfully defended her 100 meters hurdles title to become the first high Hurdler to win three strong gold medals in the history of the Games. Ese Brume is also, the second woman to defend a long jump title after Modupe Oshikoya. Chidi Okezie was also, an admired figure to win 400 Meters Gold after 37 years when Innocent Egbunike ran a 44.23 seconds in 1987. Chukwuebuka Enekwechi proved his sincerity of purpose as the first Nigerian to retain a shot put Gold medal at the Games. Ruth Usoro refused to be denied a Gold medal as she jumped 13.80 meters in her first appearance at the festival.

While Pamela Obiageri Amaechi collected her own gold medal, Chinecherem Nnamdi made a name for himself as champion for the first time in 29 years, as he set 82.80m national record.
The Nigerian women 4X400m relay team maintained their historic 10th straight gold medal while the men relay team, after 21 years got back their gold medal. Nigeria achieved her best ever performance in 1995 when the team, led by Mary Onyali, won a record of 15 gold medals.

Onyali and her team ended the Games with 32 medals, comprising 15 gold, 9 silver and 8 bronze medals to better the feat achieved in 1987 in Nairobi Kenya where the team of Innocent Egbunike won 14 Gold, 7 Silver, and 6 Bronze medals. The country’s athletics team won 13 gold medals in 1991,1999, and 2003. Team Nigeria topped the medal tables for the 11th time in 13 appearances. Record have it that the team topped the table in 1965, 1978, 1987, 1991, 1999, 2003, 2007, 2011, 2015 and now 2024.

A question that is being stirred presently in the minds of Nigerians is “What is our next stage?” The country’s last best performance and dominance could be said to be in 2015. The country’s strength in field and track events is domineering, especially in relay events, hence the reason the Ministry prepared for the athletes to participate at the World relay events held in the Bahamas in this month of May. All of the world’s athletes desire to participate and qualify for proper representation of their countries and as well to merit a place in the sports Hall of Fame as due credit to their career progression.

The Honorable Minister has maintained his assurances of the country’s readiness for the Olympic Games. Although clothing his actions in cautiousness, he is steady in his observations and delivery, having taught different category of pupils that are technically gifted. Senator Enoh is careful not to misinterprete each individual’s placement but wants to manage every capability of men, including his immediate staff for optimum results.

Athletes should not be expected to be perfect nor to continue to deliver at all times as age naturally takes a toll on them, and every man has his time and season. Stars are born from different locations and have their God given time to excel in life. The two major sporting events just concluded were heavily financially involving but were also, properly managed. In a hallmark of good leadership, both the Minister and his Permanent Secretary were fully on ground to ensure that all logistics, kits, accommodation and allowances of the athletes were duly paid. Nigeria emerged victorious with clean participation in this year’s events.

The Honorable Minister being a withness to the two major events in sports, must obviously be reevaluating and sharpening his plans, along with his formidable managers to x-ray the important areas that need priority in sporting events. Before the African Games, rumors had it that the country’s flag will not fly in Ghana due to WADA’S compliance but the sleepless efforts of the Anti-Doping Department, most importantly the Director in charge Ms Fadeke, who while others were away for the games was fully on ground monitoring and ensuring the compliance of WADA prescription of clean participation. With the sensitivity of the Department and daily supervision of the athletes anti-doping records, it will be necessary and needful to equip the Department with more computer gadgets to upload and save data for reference purposes.

The threshold where the Sports Ministry and its Sports Administration stand now is that of “Great Expectations.” That the new managers of Sport say No to Jamboree, should be seen as a sterling virtue most desired for credible efforts and crystal results. As late Sony Okosun in his rhetorical question asked “where do we go from here? I make bold to say that we are going to the Games to harvest the laurels we have laboured for, to the pride and glory of our nation. Bravo, Team Nigeria.

FELICIA MAMMAH NWOKORIE
PRESS OFFICER
FEDERAL MINISTRY OF SPORTS DEVELOPMENT

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