President Bola Ahmed Tinubu has rewarded each member of Nigeria’s victorious U-17 women’s side, the Flamingos, with N100 million in Federal Government Savings Bonds following their historic triumph at the FIFA U-17 Women’s World Cup.
The President also approved a savings certificate worth N100 million for the team’s coach, while each member of the technical crew received N50 million in cash.
The rewards were announced on Wednesday by First Lady Oluremi Tinubu, who received the players and their officials on behalf of the President at a reception held in their honour at the State House, Abuja.
Flamingos make history with maiden World Cup title
The Flamingos made history on November 7 by defeating Japan 2-1 in the final to win Nigeria’s first FIFA U-17 Women’s World Cup title. Goals from Awawu Bashiru and Oluebube Umejiaku secured the historic victory.
Nigeria became the first African country to win the FIFA U-17 Women’s World Cup, adding the title to the country’s record five FIFA U-17 men’s World Cup triumphs.
The team recovered from a 2-1 defeat to Poland in their opening match to record victories over Puerto Rico, North Korea and Mexico in the group stage. They then defeated Brazil 3-1 in the semi-final to reach their first-ever final before overcoming Japan to lift the trophy.
Savings bonds designed to protect players’ future
Shehu Dikko, Chairman of the National Sports Commission, said the decision to reward the players through savings bonds rather than immediate cash payments was deliberate, given that most members of the squad are teenagers.
Dikko explained that the investment was designed to protect the players’ long-term financial interests while ensuring they benefit from regular returns to support their education, training and other needs.
“There is no need to flood them with money that can distort their career.
“So we are now giving them what we call an FGN savings bond for like five years. That savings bond comes at 14 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 said.
He said the arrangement would allow the players to access the benefits of the investment as they mature, rather than receive a substantial sum at an early age.
“I don’t think there is any father that wants to give his 16-year-old, 15-year-old, or 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 added.
NSC to assess players’ eligibility for next U-17 cycle
Dikko also said the annual returns from the bonds would provide the players with a steady source of income during the investment period, helping to meet their education, training and family needs while they continue their football development.
On the future of the team and its coaching staff, Dikko said the National Sports Commission would assess the players’ age eligibility before determining who could remain in the next U-17 cycle.
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