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Nigerian Football

Nigerian Football Fund will speed up development, says GTI Group

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BY KUNLE SOLAJA.

The management of GTI Asset Management & Trust Limited, which has launched The Nigerian Football Fund (TNFF) on Wednesday threw light on the noble idea.

In an interactive session involving sports and business journalists, the company’s Executive Director on fund management, Nelson Ine explained that the project is the tonic that Nigerian football deserved to leapfrog into higher level.

Already, the GTI Group has set up a N5 billion football facility through the instrumentality of the capital market to mobilise private sector investments into football and other sports projects.

The facility is  tagged: ‘The Nigerian Football Fund (TNFF)’, is a collective investment scheme and mutual fund that combines the regular advantages of a mutual fund with unique propositions of a structured fund.

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The application list for the offer was opened about a year ago and it was resgisterd  by the Securities and Exchange Commission (SEC) as an open-ended fund. It is envisaged to fill the missing link in the development of Nigerian sports.

According to Nelson Ine, the N5 billion is being raised through an  initial public offering (IPO) of 5.0 billion units at a par value of N1.2 kobo per unit. The minimum subscription to the fund is 100,000 or N100,000 and thereafter in multiples of N100,000.

Ine explained further that when the project becomes fully operational, it will be yielding revenue to the point that a reversal in sports funding in Nigeria will occur.

Now sports bodies, especially the football clubs and the various association run to government for funding , but soon, the reverse will be the case.

He wondered why football as an entertainment cannot the same acclamation that music as part of the industry in Nigeria has attained worldwide.

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Right now, Nigerian musicians are well sought for in the world, taking over the earlier American dominance.

Nelson explained that football in Nigeria can do the same and only need the right tonic which the TNFF will be providing .

He described the scheme as a mutual fund that will enable Nigerians to invest in the football industry. He emphasised on investing as he pointed out that money put in the scheme is not regarded as donation.

“We are not sponsors of the Nigerian Football League, rather, we are strategic partners”, he said pointing out that the Nigerian professional football clubs will move from being financially loss oriented to ones that will generate returns.

“We are like burden-bearers on rescue mission of Nigerian football”, he emphasised. “The sports properties should not diminish. Rather they should grow”, he pointed out.

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Using the English Premier League as an example, Ine pointed out at the growth tragetory as the league over 30 years grew from a £192 million value to £10.5 billion in 2022.

He pointed at the changes that have happened in FIFA and IOC to support his assertions. Prior to the advent of Joao Havelange’s tenure in 1974, FIFA had no asset of note.

But the bunsinessman and business-oriented Havelange opened a new vista. Now FIFA is one of the richest international organisations in the world.

Ine also noted that the before Los Angeles Olympics in 1984, IOC frowned at ventures that are profit oriented. But the American changed that perception. So from a net worth of $250 million in 1984, the IOC worthed $7.6 billion as at 2021.

He believes if the right structures are put in place in Nigeria coupled with trusted corporate governance

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Kunle Solaja is the author of landmark books on sports and journalism as well as being a multiple award-winning journalist and editor of long standing. He is easily Nigeria’s foremost soccer diarist and Africa's most capped FIFA World Cup journalist, having attended all FIFA World Cup finals from Italia ’90 to Qatar 2022. He was honoured at the Qatar 2022 World Cup by FIFA and AIPS.

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Nigerian Football

Nigerian women coaches conclude first module of CAF C-License course

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NFF President Gusau and GS Sanusi with NFF Management and the coach educators and participants at the commencement of the course on Monday last week.

A total of 30 women coaches have concluded the first of a three-module CAF C-License program in the Federal Capital, Abuja and are expected to commence a two-week internship with different teams in a few days.

Peopled largely by former Nigerian internationals and other serving coaches, the group was taken through a full week of rigorous classroom and practical sessions by a team of coach educators and resource persons, in a baptism of what the next two modules are likely to entail,

NFF Technical Director, Coach Augustine Eguavoen, told thenff.com that the first module has shown that the women coaches are actually desirous of learning.

“I am very much impressed with their attitude, mannerisms and conduct through the first module. They impressed everyone, and the coach educators also told me they were impressed, and are looking forward to having them back for the second and concluding modules.

“We are grateful for the leadership of the NFF for the support and encouragement for coach-education programmes all the time.”

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The participants will return to Abuja for the second module that is scheduled for 12th – 20th August, after which they will go on another two-week internship, 23rd August – 4th September. The third module, which comes with examinations for the participants, will take place 9th – 19th September.

Dr. Terry Babatunde Eguaoje, NFF’s Head of Education, is among the coach educators’ team, which also includes Coaches Isah Ladan Bosso, Wemimo Olanrewaju and Lanrence Ndaks.

Among the 30 participants are former Super Falcons’ stars Precious Dede, Joy Jegede, Esther Michael, Maureen Eke, Otas Ogbonmwan, Vera Okolo, Cecilia Nku, Taiwo Ajobiewe, Gloria Ofoegbu and Amenze Aighewi. There are also Barr. Victoria Nlemigbo and retired FIFA referee Folusho Ajayi.   

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Osimhen’s outburst was a moment of madness, says Amaju

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Former Nigeria Football Federation (NFF) President and a  FIFA Council member, Amaju Pinnick has expressed shock at last month’s outburst by Super Eagles’ striker, Victor Osimhen against Finidi George.

“It is very unfortunate”, Amaju Pinnick remarked on an Arise Television programme. The former NFF president said he had put a call to Osimhen who was very remorseful while the telephone conversation lasted.

  “I told him he has to apologise, and I am sure he will if he has not yet done so.” Amaju remarked that he could not comprehend what went wrong as Osimhen was the most cool-headed player in the national team.

He went on to remark that Finidi George was not a personality to be disregarded like that. He has won virtually every honour available during his playing days and was a member of the Super Eagles at their peak when Nigeria ranked fifth in the world.

“I believe players should learn to respect their coaches”, said the former NFF boss.

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I prefer a foreign coach for the Super Eagles, says Amaju

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Nigeria’s FIFA Council member, Amaju Pinnick has told the world that he has always been an advocate of foreign coaches for the Super Eagles. He spoke on Arise Television while fielding questions with Reuben Abati, Rufai Oseni and Ayo Mairo-Ese. 

His reason for being averse to indigenous  coaches stemmed from lack of respect for them by the players.

“Yes, the Nigerian coaches have the requisite knowledge and the technical ability, but modern football is beyond that in managing players.

“Will the national team players respect the coach? The sad thing is that they don’t”, said Amaju Pinnick.

 He however revealed that he supported the appointment of Finidi George owing to the circumstances that the NFF found itself after the exit of Jose Peseiro.

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 The NFF, he revealed, had no money to hire a foreign coach. The body therefore went for the most available option, Finidi to ensure a smooth transition.

 “Finidi was part of the coaching crew of Peseiro and it was therefore logical to ask him to continue.

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