Zenith Bank signs N90m three-year deal with basketball federation

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ZENITH20BANK_jpg71ff142a7ae64227a214c54c9f2c59a6The Nigerian Basketball Federation (NBBF) on Tuesday signed a three-year deal worth N90 million with Zenith Bank to sponsor the female national league for three years.

 

This agreement is to herald the 2013/2014 basketball season which begins in Abuja from March 21 and 25.

 

Naija247news.com investigations revealed  that the annual partnership was worth N20 million in the 2012/2013, while the new deal would be subjected to a yearly review.

 

Speaking on the occasion, the NBBF President, Tijani Umar, lauded the bank for efforts commitment to the sponsorship of the league for another three years.

 

“We are happy about this development; it is a good sign for our basketball, most importantly, the league which produces our female players.

 

“It used to be a yearly deal, but we are happy to have a three-year partnership with our sponsors — Zenith Bank.

 

“It is their 10th year of being with us, it is also a clear indication that they want to do more for our league,’’ Umar said.

 

In his speech, Mr Godwin Emefiele, bank’s the Managing Director, promised the organisation’s commitment to continue to partner with the federation.

 

Emefiele, who was represented by Mr Marcel Okeke, said the decision to increase the sponsorship fees was based on the effective management of league.

 

“The bank is happy with the federation and how the league is being run.

 

“The new deal will be reviewed upwards yearly so that the NBBF will receive more money, that is, N25 million, N30 million and N35 million respectively in the next three years.

 

“We are aware of many other corporate organisations’ interest in sponsoring the league, hence we are on our guards to do our duty to be the sponsors of the league,’’ he said.

 

According to media reports the  league comprises 16 teams with the first set of matches being played in Abuja while the second phase will hold in Kwara.

The best eight teams will qualify for the final playoffs scheduled for Lagos for the emergence of the overall winner.