Aftermath of NFF AGA: How Federation's Financial Concealment Affect Football Development

  Aftermath of NFF's AGA: How Federation's Financial Concealment Affect Football Development By Niyi Busari The 2020 Annual General Assembly of the Nigeria Football Federation (NFF) held virtually on Tuesday, December 29, was marred with misrepresentation and concealment of financial statement for 2020 as figures relating to how much was NFF's income and expenditures were hidden away from Board members who were part of the Congress. While some members like Otunba Sunday  Ajayi, Chairman, Ondo State Football Association and others were denied access to the Congress because the links with which to join the virtual meeting was not sent to them. BSN Sports understand that it was a deliberate bid to eliminate those who may question their financial secrecy, non-accountability and lack of transparency. However, some of the FA members who were part of the Congress but not satisfied with some decisions during the Congress kicked at what they tagged 'kangaroo Congress'. Two State Football Association Chairmen,  who spoke with BSN Sports alleged that selected members who they believed have  'planned agenda' were picked to either raise a motion or seconded it. While others who were not part of the 'hidden agenda' but raised their hands for questioning were shunned. "The Annual General Assembly of the NFF is the same kangaroo style as usual. PricewaterCooper (PWC) came to tell us why the financial statement for 2020 could not be made available to the Congress and without telling the us figure of how much was realized in 2020 and how they were spent, admitted that there are some financial anomalies that need to be corrected. I and others who wanted to ask questions raised our hands but we were not allowed to speak. How can PWC said they're okay with the financial statement after telling us there are many things to be corrected? Delta State FA Chairman, Edema Fuludu told BSN Sports. Corroborating the former Super Eagles winger, another FA Chairman who spoke on condition of anonymity said. "How can a representative of a big well-recognized, multinational financial firm like PriceWaterCooper come to such meeting without reading to us financial statement, without telling us how much the federation got from sponsors, Federal and State Governments, FIFA as well as CAF." It is shameful and showed that PWC is incompetent." In the past, before the Pinnick-led board, financial statements were always prepared in a magazine, shared to the Congress members to go through at their convenient time. This is to allow them know how much the federation got from different sources with all the income in the year under review clearly stated. "Now, it is difficult for even board members to know how much is the total income, how much was spent and the amount left unspent for 2020." The FA Chairman stated. He added that Niger State FA Chairman, Yusuf Ahmed Fresh interrupted PWC representative when he was talking to the Congress, hurrying him to end his peach about the 2020 financial statement to allow them move to the next agenda. "Some of the members who spoke at the virtual Congress were picked based on planned agenda. Ahmed Yusuf Fresh, who acted like the coordinator was rushing the PwC representative not to talk too much on the financial statement, asking him to end his speech to allow them move on to another  programme. I raised my hand to ask questions bothering on the concealment of the statement of account for 2020 but I was not allowed to talk." NFF President, Amaju Pinnick has been quoted on several media saying that toxic environment caused by those who criticize the present Board about financial impropriety is the major reason sponsors are running away from the Federation. The Association of Certified Fraud Examiner (ACFE) in its response said that Amaju Pinnick argument is a wrong perception and his assertion is not enough for sponsors to pull out from the federation. The ACFE after many years of research discovered that financial concealment, deception and misrepresentation of accounting statement are some of the major reasons sponsors fail to extend contracts with organizations. The Association of Certified Fraud Examiners (ACFE) defines accounting fraud as "deception or misrepresentation that an individual or entity makes knowing that the misrepresentation could result in some unauthorized benefit to the individual or to the entity or some other party." According to ACFE, Financial statement fraud can take multiple forms, including: accounting anomalies, such as growing revenues without a corresponding growth in cash flows, hiding income/liabilities from a organization's balance sheet and illegal transaction by giving sponsors the third party's account details for payment meant for the Federation, and incorrectly disclosing related-party transactions and structured finance deals. In recent time, the NFF has failed to tell Nigerians how much was realized from the Federal Government, sponsors, Edo State government for hosting the Nigeria versus Sierra Leone African Nations Cup qualifier, FIFA and CAF in 2020. In the same vein, the League Management Company (LMC) has not told Nigerians how much Redstrike is paying for the TV rights sponsorship for the 2020/2021 Nigeria Professional Football League. Research has shown that financial concealment phenomenon leads to negative economic, security and social consequences. It has been linked to several other phenomena such as money laundering. It shows lack of transparency and breach of trust which are capable of driving away existing and intending sponsors. This speaks volume of why the NFF always complain of lack of funds. In 2020, the NFF stopped the payment of bonuses and allowances of all age-grade national teams and Super Sand Eagles were also scrapped due to lack of funds. All these 'wrong' decision comes with its consequences. Special Adviser on Sports to the President, Daniel Amokachi frowned at the NFF decision to scrap the bonus and allowance of all underage national teams, arguing that such rash decision will diminish the commitment of players. Recently, the Nigeria Flying Eagles who in the past were two-time finalists at the FIFA Worlds Cup tournaments, and seven-time champions at the Africa Youth Championship could not qualify in the WAFU Zone B tournament. Super Eagles failure to defeat Sierra Leone in Nigeria and in Freetown in the African Nations Cup qualifier double header in 2020 was traced to non-payment of players' bonus for more than 18 months. The Beach Soccer national team which was scrapped recently were not paid their backlog of bonus and allowance since 2015 when Amaju-Pinnick led Board came into NFF as president. The Super Falcons could not qualify for the 2020 Olympics because the then head Coach, Thomas Dennerby and captain,  Desire Oparanozie were dealt with following Super Falcons' protest at the World Cup in France. The protest according to Oparanozie was due to lack of payment of the team's match bonus and allowances for three years before the world cup. The former Falcons captain, Oparanozie was stripped of captain and handed to Asisat Oshoala while the coach was replaced by Christopher Danjuma who failed to defeat Cote d'Ivoire in the Olympic qualifier.