The non-payment of the long outstanding liabilities bedeviling and hampering the settling of the debts of the Nigeria Basketball Federation (NBBF) from 2017 to 2020 would soon become history, according to the latest report coming from the leadership of the NBBF.
The Board of the NBBF, in a press release signed by the Secretary, Peter Njoku, expressed its profound gratitude to the President of the Federal Republic of Nigeria, President Muhammadu Buhari, Minister of Finance, Hajiya Zainab Shamsuna Ahmed and the Minister of Youth and Sports Development, Sunday Dare for the release of 50% of the approved N714 million, outstanding liabilities of the Federation for the National women’s team activities funded from 2017 to 2020, in the sum of N357 million.
The press statement reads, “It is indeed, a promise truly kept by Sunday Dare, the Honorable 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 gets 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.
“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 is the situation of things as they stand.
“Once more, we wish to thank the Federal Government for all its support to the NBBF and its anticipated release of all approved funds,” the statement concluded.
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