NFF Seal $8.2M Deal With Aiteo Group To Pay Coaches Salaries. The Nigeria Football Federation (NFF) has signed a five year deal with Nigeria’s foremost integrated energy solutions company, Aiteo Group worth $8.2 million (7.5 million euros,N2.5 Billion). The partnership will kick start on May 1, 2017 and will be used to pay its national team coaches.
The contract with energy conglomerate Aiteo is worth 500 million naira ($1.6 million, 1.5 million euros) a year with an option of a year’s extension, the parties disclosed at an event in Lagos.
” AITEO will pay salaries of all National team coaches for the next five years.” NFF President Amaju Pinnick said at the signing of the deal in Lagos.
NFF communications chief Ademola Olajire called the deal the “long-awaited injection of funds the NFF has earnestly yearned for” and said it marked “a new chapter” in the national game.
The NFF, which is government-funded, has complained of poor finances and struggles due to lack of private sponsorship. The NFF, has for years been looking for a major backer to finance most of their projects, especially the payment of salaries for various national team coaches.
Non-payment of salaries has been a repeated problem for coaches of the Super Eagles, as well as other national sides, while players have also threatened to strike because of unpaid allowances. Current manager Gernot Rohr, who reportedly is on $47,000 a month, is currently owed three months’ pay.
In November 2013, the then-president Goodluck Jonathan stepped in to guarantee the salary of the team’s manager at the time, Stephen Keshi, who had not been paid for five months.
Keshi and his assistants were owed 78 million naira — at the time worth $485,000 or 357,000 euros. In December last year, the national women’s team, the Super Falcons, staged a two-week protest in Abuja before their bonuses for winning the women’s Africa Cup of Nations were paid.
Investigations into the application of the deal reveals that the Football house will not be in charge of the funds as a Nigerian company, Financial Derivatives will be in charge of monies due the NFF as released by AITEO, and will then pay the coaches as directed by the NFF.
Furthermore, in order to maintain its transparency drive, leading auditing company, Price Waterhouse Coopers, will audit the accounts.