Nigeria approves $135,000 refund to IAAF


Nigeria’s Minister for Sports, Sunday Dare has approved the refund of $135 thousand to International Association of Athletics Federations mistakenly sent to Athletics Federation of Nigeria (AFN).

Dare confirmed the approval of the refund via his official Twitter handle on Wednesday evening and promised that IAAF will receive the money soon barring bank delay.

“I have approved the release of funds to refund the IAAF overpayment wrongly credited to the Athletics Federation of Nigeria. In a few days from now the funds should hit the account of the IAAF baring any interbank delays. With this Nigeria’s reputation is regained,” he wrote.

Two years ago, the IAAF had sent $150,000 to the AFN, instead of the $15,000 for the development of athletics in Nigeria.

Instead of returning the excess money to the international body, officials of the AFN allegedly ‘misappropriated’ the funds.

IAAF had warned Nigeria would incur sanctions if the $134,000 that was overpaid was not returned

Despite promises by immediate past Sports Minister, Solomon Dalung, to refund the money, Dalung did not honour his words, he reportedly returned 50% of the missing money to the IAAF fews hours before leaving office last May.

The IAAF revealed at a time that it had received an unspecified “small amount” from the AFN.

It became an international embarrassment for the country and her track and field experts.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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