Nigeria Releases Money To Repay IAAF Funds - Minister
By Ufuoma Egbamuno
At long last, the Athletics Federation of Nigeria (AFN) will refund the overpayment credited wrongly to its account by the International Association of Athletics Federation (IAAF).
Sports Minsiter, Sunday Dare says he has approved the release for the payments. He confirmed this via his official Twitter handle.
In 2017, IAAF wrongly credited the AFN $150, 000 (about N54 million) instead of $15,000 (about N5.4 million) it usually grants member states.
After discovering the mistake, the IAAF wrote to the Nigerian body to return the money. Unfortunately, the funds had been allegedly spent. IAAF did threaten to sanction Nigeria and former Minister Solomon Dalung promised to repay the funds after a meeting with IAAF at the Africa Athletics Championships in Asaba last year.
Nigeria’s new Sports Minister insists with his approval for the release of funds, “Nigeria’s reputation” will be “regained.”
“The funds should hit the account of the IAAF baring any interbank delays,” Dare noted.