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Stanbic IBTC, NFF signs in Lagos, memorandum to insure all members of the National team

The Nigerian Football Federation (NFF) and Stanbic IBTC Holdings PLC have signed a Memorandum of Understanding (MoU) that will become effective from 2022. The MoU is slated to benefit the country’s football development.

Stanbic IBTC will provide group life insurance for all 35 members of the national team with a sum assured of N1.75 billion and personal accident insurance for all 35 members of the team with an annual sum assured of N583,000,000 for the next 3 years.

In addition, Stanbic IBTC will provide gender-sensitive support to female sports correspondents in Nigeria.

Chief Executive, Stanbic IBTC Holdings PLC, Dr Demola Sogunle, spoke about the agreement.

“Today, you are all witnesses to a landmark event: the consummation of a partnership geared towards driving the growth of football in Nigeria.

“We are all gathered here to grace this momentous occasion as two great Nigerian institutions come together to advance Nigeria’s most popular sport. With this partnership, we will further drive the development of the youths via football.”

Sogunle said that the partnership consisted of youth empowerment and football development, two shared values between Stanbic IBTC and the Nigerian Football Federation.

The Stanbic IBTC Chief Executive added: “This is a great day for football development in Nigeria, and we believe this partnership will boost the growth of this beautiful round leather game in the country.

“Over the years, various Nigerian football teams have made their marks in various international competitions. We believe the Nigerian football teams will only get better and will dominate the beautiful game in the future. Yes, IT CAN BE, as we like to say in Stanbic IBTC, knowing that everything is possible, as long as we put our hearts to it.”

Furthermore, Sogunle acknowledged Amaju Pinnick’s contribution to the development of football in Nigeria and the African continent. He congratulated Pinnick on his election into FIFA’s Executive Council, and expressed the belief that Nigeria would benefit greatly from his membership.

On the partnership with Stanbic IBTC, Amaju Pinnick said: “This has been a historic and one of the most unique sports contracts we have had in a long while and we are excited that Stanbic IBTC is driving not just a partnership with the NFF but a sponsorship that also encourages the advancement of the female gender.”

Bukola Olopade, Managing Director Nilayo Sports Management Limited, consultant to the partnership said, “This agreement is the most unique we have signed so far because it directly benefits the players and also contributes to the advancement of the girl child.”

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