Governing Bodies
Crypto currency payment looms for NFF as FIFA signs sponsorship deal with Crypto.com
Some hectic financial period may be ahead for the Nigeria Football Federation (NFF) who may be paid crypto-sourced fund if the Super Eagles qualify for the Qatar 2022 World Cup.
According to world renowned news agency, Reuters, FIFA has agreed a sponsorship deal with Crypto.com for the 2022 Qatar World Cup.
The information comes from the soccer’s world governing body’s statement on Tuesday.
As per the Central Bank of Nigeria (CBN) directive on prohibition of dealing in
Cryptocurrency and facilitating payments for Cryptocurrency Exchanges, the money due for payment to the NFF may be endangered except there is a waiver by the government.
World Cup qualification money are constantly on the rise with every edition. For Russia 2018, it was $8 million for teams that crashed out in the group stage. The money is normally paid through financial institutions.
In Nigeria, as per directives from the Central Bank, commercial banks have informed citizens of the risks associated with Cryptocurrency trading which include and may not be limited to loss of funds and exposure to criminal activities.
As per the information from FIFA, the Singapore-based Crypto.com will be the exclusive cryptocurrency trading platform for the World Cup in Qatar, which runs from Nov. 21 to Dec. 18.
“Crypto.com has already demonstrated a commitment to supporting top-tier teams and leagues, major events and iconic venues across the world,” said Kay Madati, FIFA’s chief commercial officer.
“And there is no platform bigger, or with a greater reach and cultural impact, than FIFA’s global platform of football.”
The partnership with FIFA is the latest big investment in sport for Crypto.com, who inked sponsorship deals with the NBA team Philadelphia 76ers, the Ultimate Fighting Championship and Formula 1 last year.
The company, founded in 2016, also acquired naming rights to the Staples Centre, home of the NBA franchise Los Angeles Lakers, in a 20-year deal reportedly worth more than $700 million.
“Through our partnership with FIFA, we will continue to use our platform in innovative ways so that Crypto.com can power the future of world-class sports and fan experiences around the world,” added Crypto.com co-founder and CEO Kris Marszalek.
The president of the Confédération of African Football, Dr. Patrice Motsepe, has announced five new CAF Vice Presidents. They are:
- CAF First Vice President: Mr Fouzi Lekjaa (Morocco)
- CAF Second Vice President: Mr Kurt Okraku (Ghana)
- CAF Third Vice President: Mr Pierre-Alain Mounguengui (Gabon)
- CAF Fourth Vice President: Ms Bestine Kazadi Ditabala (Democratic Republic of Congo)
- CAF Fifth Vice President: Mr Feizal Sidat (Mozambique)
In addition, the CAF President has co-opted Yacine Idriss Diallo, President of Fédération Ivoirienne de football, into the CAF Executive Committee.
The CAF Executive Committee also approved the names to fill vacant positions on several CAF Committees.
Organising Committee for the African Nations Championship (CHAN)
- President: Pierre-Alain Mounguengui (Gabon)
CAF Technical and Development Committee
- President: Samuel Eto’o (Cameroon)
- Vice President: Malouche Belhassen (Tunisia)
CAF Medical Committee:
- President: Dr. Mohammed Bouya (Mauritania)
- Vice President: Dr. Thulani Ngwenya (South Africa)
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Governing Bodies
Nigeria becoming an epicentre of global badminton as Francis Orbih enters the Badminton World Federation Council
Laurels on the courts and now glory in the boardroom sums up the mark that badminton is making in Nigeria.
The President, Badminton Federation of Nigeria (BFN), Francis Orbih, has been elected as a council member of the Badminton World Federation (BWF).
The election took place during the BWF Annual General Meeting on Saturday in Xiamen, China.
Orbih emerged victorious over top contenders from other African countries.
He will join Cameroon’s Odette Assembe Engoulou on the council, while Chipo Zumburani (Zimbabwe) and Hadia ElSaid (Egypt) missed out.
An elated Orbih expressed his gratitude to fellow badminton presidents across the globe for their trust and support.
He said, “I am deeply honoured by the trust placed in me by my peers across the badminton world.
“I look forward to quality representation, driving development initiatives, and strengthening badminton’s global reach over the next four years.”
Orbih also acknowledged the support of the Federal Government of Nigeria, particularly the National Sports Commission (NSC), which he said played a significant role in his successful bid.
“The Chairman and the Director General of the NSC monitored the entire process. I’m grateful for their involvement and confident Nigeria will benefit from this,” he stated.
He further appreciated the BFN board members and the Nigerian badminton community for their prayers and continued belief in his leadership.
“From the day I declared my intentions, the board members of BFN have been supportive, and I promise not to disappoint them,” Orbih concluded.
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A former member of the FIFA Council, Mamoutou Toure, has been released from jail in Mali after almost two years in detention for alleged corruption, Malian media reports said on Wednesday.
Toure, president of the Malian Football Federation since 2019, was released after 622 days in prison on Tuesday.
He served on the FIFA Council, world football’s all-powerful decision-making body, for four years until last month when he lost his seat after failing to contest new elections.
The 67-year-old was arrested in August 2023 on allegations of embezzling $28 million of public funds but was granted a provisional release order by the Malian courts, reports said.
He was accused of misconduct during his time as the National Assembly’s financial and administrative director from 2013-2019.
Toure denied all charges and, during his time in jail, was last August re-elected as Malian Football Federation president for a second consecutive term, with his supporters claiming he was a victim of a conspiracy fuelled by detractors.
While in jail, he received a letter of support from FIFA president Gianni Infantino. However, as of last month, Toure is no longer a member of the FIFA Council or the Confederation of African Football’s executive committee.
-Reuters
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