How Nike Foiled NFF Strategy To Divert N87.5m

How Nike Foiled NFF Strategy To Divert N87.5m By Nwachukwu Michael American kit company and Nigeria football national teams kits designer, Nike has thwarted NFF's plans to divert N87.5 million ($250,000), BSN Sport can report. Basic Sports in Nigeria investigation revealed that Nigeria Football Federation, NFF, presented a Guatemalan account as well a Citibank UK account to Nike to pay the sum of $250,000 (Two hundred and fifty thousand USD) for men national team qualification bonus for the Russia 2018 World Cup. NFF had in a letter with Ref No: NFF/MKT/202/Vol. 1 titled ‘Nigeria Football Federation Men National Team Qualification Bonus’, written to Nike European Operations Netherlands on 1st November 2017 in line with the NFF/Nike Official Sponsorship and license agreement attached an invoice where the world cup qualification bonus is expected to be paid accordingly. The letter which was signed by the Secretary-General of the Federation, Dr. Muhammed Sanusi reads in parts; “With warm compliments of the President, Executive Committee Members and Management of the Nigeria Football Federation, we hereby forward the attached qualification bonus invoice for the Russia 2018 FIFA World Cup the sum of 250,000 USD (two hundred and fifty thousand USD only) in line with the NFF/Nike official sponsorship and license agreement article 4. “We implore you to effect payment into the NFF account as provided in the invoice.” On receiving the above message from the NFF, Saliminen Tina, an accountant, an auditor who was hired as a consultant by Nike and specializes in auditing of retirement funds discovered that the account provided by the NFF with invoice where the funds are expected to be paid was not from Central Bank of Nigeria but Guatemala. Tina, who has practiced with 20 years experience in her response wrote; “We started the process to set up the new bank details. We find the following discrepancies on the invoice sent to us: 1) The swift code is not correct, this is not the swift code for a Central Bank of Nigeria. 2) Please delete the Guatemalan IBAN which for some reasons is included on the invoice and as well the CITIBANK UK written in the intermediary bank section. 3) Lastly, please to clearly write the account owner name in the field “account owner” Now it says “CBN NFF Sponsorship USD 0018376069". The said amount (N87.5m) was the agreed payment from Nike to NFF if Super Eagles qualified for the Russia 2018 World Cup.