Nigeria Basketball Federation (NBBF) said it would begin soon settling outstanding liabilities and debts following the release of 50% of the approved N714 million Naira.
The Board of the NBBF, in a press release signed by the Secretary, Peter Njoku, expressed its profound gratitude to President Muhammadu Buhari, the Honourable Minister of Finance, Hajiya Zainab Shamsuna Ahmed and the Honourable Minister of Youth and Sports Development, Chief Sunday Dare for the release of 50% of the approved N714 million Naira-being liabilities of the federation for the National women’s team activities to be funded between 2017 to 2020, in the sum of N357 million.
The press statement stated inter alia :”It is indeed, a promise truly kept by Chief Sunday Dare, the Honourable Minister.”
“Consequently, the federation is concluding all modalities to immediately process and make pro-rata payments on the basis of the 50% received for all liabilities across board, including the payments of all borrowed funds to ensure that the National Women’s team get paid for all honoured activities for which the liabilities are now paid.
“The NBBF is also committed to paying the balance of the outstanding claims and borrowed funds, as soon as the remaining 50% of the liabilities are fully paid in the coming days, as assured.
“The NBBF truly appreciates the understanding of the players and officials of the national Women’s team and the unbelievable patience of the Federation’s creditors, who made sure that they loaned the federation the funds needed, and timely so, for the National teams to honour all of their events in which they entered to participate.
“The Federation also wishes to gladly state that the FMYSD has already secured Government approval for the refund and repayment of all the liabilities and other claims of the two national teams’ preparations towards the Tokyo 2020 Olympic Games, and the Men’s World Cup qualifiers, and only awaiting availability and release of funds from the Federal Ministry of Finance.
“Once the Government releases the funds to pay all these outstanding liabilities, every claim shall be settled in full.”
While thanking the federal government, the NBBF implores all to desist from spreading any false information in this regard, and desist from defaming or embarrassing the Federal Government, the FMYSD or the NBBF, as this are the situation of things as they stand.