Breaking: Tinubu Rewards Flamingos, Coach With N100 Million Bonds Each
- President Bola Ahmed Tinubu rewarded each member of Nigeria's U-17 women's football team with N100m Federal Government Savings Bonds issued by GTBank
- The First Lady, Senator Oluremi Tinubu, received the Flamingos and their crew at the State House in Abuja on Wednesday
- Sports Commission chairman Shehu Dikko explained why the girls received bonds instead of cash, citing the need to protect their futures
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Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering football and sports in Nigeria and Africa.
FCT, Abuja - Nigeria's Flamingos, the U-17 women's national football team, have received a reward from President Bola Tinubu following their FIFA U-17 Women's World Cup victory.
Legit.ng reports that each player was, on Wednesday, November 11, awarded Federal Government Savings Bonds worth N100 million, issued through GTBank.
Source: Twitter
Head coach Akeem Busari received a cash gift of the same amount, while each member of the technical crew was given N50 million in cash. The First Lady, Senator Oluremi Tinubu, announced the rewards while receiving the squad and coaching staff at a reception held at the State House in Abuja on Wednesday, acting on behalf of the President.
The Flamingos recently made history as the first African side to win the FIFA U-17 Women's World Cup.
Why Flamingos received N100m bonds instead
Chairman of the National Sports Commission, Shehu Dikko, said the choice to give the players bonds rather than a direct cash payment was a deliberate move to safeguard the financial futures of players who are mostly teenagers.
"There is no need to flood them with money that can distort their career," Dikko said.
"So we are now giving them what we call an FGN savings bond for like five years. That savings bond comes at like 14, 12 per cent interest annually, meaning each of them will be adding like N1.1m plus monthly for the next five years, which is enough to look outside their education, to look outside their training, and then by the time those bonds mature, they are already adults. They can make a clear decision of what to do with their own money."
Dikko drew a comparison to responsible parenting:
"I don't think there is any father that wants to give his 16-year-old, 15-year-old, N100m at this age. But you can invest for your 16-year-old so that at 20 they will have money to set up their life. That's basically what the president has done at this moment, which is unprecedented."
He also confirmed that players would not be without income during the five-year bond period, as the annual interest returns would cover education, training and family expenses while they remain active in the sport.
Dikko explains Flamingos' next World Cup plans
On what comes next for the team, Dikko said the ages of the current players would determine how the squad and its coaching structure are managed going into the next U-17 cycle.
"We have to look at how many of these girls are still available for the next U-17. If more are still under that age, they can play the next one; better you keep the coach at this level. If they are moving to the U-21, better they go with their coach to do that," he said.
Watch the Tinubu administration's announcement on the rewards for the Flamingos below:
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Flamingos receive $50,000 cash reward
Legit.ng previously reported that Nigeria’s Flamingos received a $50,000 cash reward after becoming the first African team to win the FIFA U-17 Women’s World Cup.
The team also received its outstanding bonuses, covering its campaign from the qualifying rounds to the final.
Source: Legit.ng
