NFF secures N2.5bn bailout for coaches

Aiteo Group on Wednesday  in Lagos  signed a five-year sponsorship deal  worth N2.5bn   with the Nigeria Football Federation  for  the salaries of national  coaches.

The company will pay  N500m annually.

Deputy Managing Director of the company Francis Peters told reporters that the   move was aimed at   developing Nigerian  football.

“That is why we decided to partner  the NFF in paying the coaches’ salaries with N500m  per annum for the next five years,” the company chief said.

“The sponsorship will commence on May 1  and will last five years with an initial option of a one-year extension.

“The deal grants exclusive rights to Aiteo Group and will cover all local and foreign components of the NFF’s financial obligations for the main team which is dissimilar to the recent deal with Zenith Bank.

“Aiteo Group’s overreaching social responsibility objectives are to encourage a positive impact through our activities in the society at large and which it has successfully done for several years.

“This is the long awaited injection of funds the NFF has earnestly yearned for.”

NFF president  Amaju Pinnick said he  started discussions  with the energy conglomerate  when he was campaigning for the CAF  executive committee election.

He said, “When I came back, I researched about the company and later met with them.

“They accepted my proposals as soon I contacted them, and within 10 days of discussion, we reached an agreement on how to be official sponsors of the NFF.

“In the next five years, there will be nothing about owing any Nigerian coach.”

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