NFF Explains How FIFA and CAF Funds Are Managed

The Nigeria Football Federation (NFF) has shed more light on how it manages funds received from the Fédération Internationale de Football Association (FIFA) and the Confederation of African Football (CAF) are strictly allocated for specific projects and programmes, not discretionary funds or gifts to the federation.

In a statement released on Friday through its official website, theNFF.com, the federation explained that the funds from FIFA and CAF are carefully managed and subject to strict oversight.

“The NFF stated in a Friday statement on their official website, theNFF.com, that all funds received from FIFA and CAF are allocated for specific purposes And both governing organizations send auditor to conduct yearly audits of the accounts where these funds are deposited.”

The NFF statement went on to provide more details about the FIFA Forward programme, explaining that every stage of each project undergoes monitoring and verification.

The statement continued:

“The NFF also explained that monies meant for development purposes are usually tied to specific projects and programmes, while the FIFA Forward monies are also properly specified and under strict adherence to financial regulations, compliance, monitoring and auditing at every stage of the project or program.”

“FIFA Forward projects, such as the ongoing NFF/FIFA Players’ Hostel and new training pitches inside the MKO Abiola National Stadium, are subjected to strict controls, monitored and verified at every stage of the work. Every stage is verified, assessed and sanctioned before further monies are released to the FIFA-approved consultants, to whom the monies are paid directly.”

The statement further reaffirmed the federation’s dedication to financial discipline and global best practices.

“The body reaffirm its commitment to accountability, the federation maintained that its operations follow international financial standards.”

“The NFF is a disciplined organisation that operates prudent and strict financial protocols. The body has regularly presented its audited accounts, prepared by Price Water house Coopers, known for its global credibility and integrity, at every Annual General Assembly,” the statement added.