Pinnick allegedly diverts N6.72bn sponsors funds


Pinnick allegedly diverts N6.72bn sponsors funds

*Details of the sleaze in the Glass House
*Many sponsors funds undisclosed worth over N10bn
*Why FIFA bosses are protecting Pinnick
By Olajide Fashikun

We can reveal to you that at the end of the outgoing 2017/2018 football season which should make the fourth year of the Amaju Pinnick board, that sponsors funds worth N6.72billion (gross but not net) may have suffered some form of misapplication by the board of the Nigeria Football Federation (NFF). This is given that nobody else in the federation knows what sports kit manufacturers, Nike paid the organisation especially with the success of selling over 3million replica during the 2018 World Cup in Russia.

However, each of the jersey put on sale went for £41. Logic is, if 3million jersies were reportedly sold, then, a gross of £120m would have been made. If computed at the exchange rate of N460, that would amount to N5.52billion.

As at the last count, the sum of public monies kept in private accounts being sponsors funds include the following:

Monies that passed through the NFF Accounts include Nigeria Breweries N450m, Emzor Pharmaceuticals N40m, Zenith Bank N150m. In all, sponsors paid in the current season a total of N640m to the NFF.
Monies in the accounts of Financial Derivatives include Aiteo Group N240m and $600,000. For the Aiteo FA Cup N500m was paid. Peak Milk N40m, Pay Porte N80m, Big Bull N100m, Ixbet $150,000 while Simba paid N20m, Wapic Insurance N100m, Coca-Cola $800,000 and TomTom N60m
Nobody in the federation knows how much has been collected from the Nike deal which was signed singlehandedly by the then President, Amaju Pinnick.

Meanwhile, there are sponsors whose amount of monies they paid did not reflect anywhere in the official account books of the NFF which include Globacom, NDDC, TGI Limited, Guinnes Plc., SuperSport, FIFA, CAF, Brila Sports, IGI Insurance.

Insider sources claim that First Derivatives Company Lited were brought on board to circumvent the Treasury Single Account (TSA) and the Central Bank of Nigeria (CBN) to warehouse all revenues accruing to the NFF. “Monies deposited into their account does not get to the NFF.”

We can assert that private individuals pay monies and donations to the First Derivatives accounts. For instance, Chief Ifeanyi Ubah whose company pays the salaries of Gernot Rohr paid over $500,000 to the account.

Mediterrenian Sports Limited: A third leg of the fraud in the house of football is a company named as Mediterrenian Sports Limited belonging to the Chairman of the League Management Company Limited, Mallam Shehu Dikko who doubles as the Second Vice President of the NFF.

Dikko is also the chairman of the Sponsorship and Marketing sub committee of the NFF. This was an appointment that is deliberately and strategically placed to advantage in view of the revelations that have emerged thus far.

As at 21st March 2018 some of the documents submitted by the former NFF Technical Director, James Peters in a well documented petition addressed to the EFCC is the Corporate Affairs Commission (CAC) page which revealed that Shehu Dikko is a director of Mediterrenian Sports Limited.

Systemic stealing and misappropriation: A forensic audit reportedly done some years back showed double budgeting especially when the Super Eagles play their matches. That is why the NFF takes such matches around states. While the host pays to host the national team, the same amount of monies are also claimed from the Federal Government, owners of the national teams.Mediterrenian Sports document with CAC
This happens during World Cup qualifiers and African Nations Cup qualifiers for the senior national teams. This is also the case when cadet teams are plying their trades in preparation for World Cup or regional qualifiers in their platforms.

To worsen matters, cadet national teams players and officials are not paid a farthing as either allowan


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