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...As IGI Alleges N20m Fraud Against Ministry By Wale Ajimotokan The Vice Chairman and Chief Executive Officer of Industrial and General Insurance (IGI) Remi Olowude has indicted the Sports Ministry for allegedly defrauding the insurance company to the tune of N20million. Olowude made the earth shaking revelation on Monday night at the fund raising dinner for Team Nigeria in Lagos. His disclosure could potentially mar all genuine efforts to rally the organised private sector to support in the funding of sports in the country. According the IGI boss, the ministry approached the company for financial grants years ago to enable the ministry participate in a competition. But it was later discovered that the claim was bogus "They came to us saying they needed the money to participate in a competition. We gave them N20million -but no competition took place. This kind of thing discourages one," Olowude said. While insisting that the ministry is still indebted to IGI Olowude also alleged that the Nigeria Football Association (NFA), which similarly took N7million from the company for an unverifiable cause but has since redeemed its liability in form of a barter arrangement. "We must empower and encourage private initiative if we want to develop sports," Olowude stressed. He, however, exonerated the current Sports Minister Col. Musa Mohammed (rtd) of any liability insisting he is one of the most upright Nigerians he has come across. Musa took a bold step at the occasion to the effect that the NFA would be restructured to make it efficient and self-sustaining. The minister said that a committee would be set up between today and tomorrow to effect the restructuring of the football house. "That restructuring will of course include the infamous Decree 101 and all other aspects that will make NFA more productive," Musa said. Even though the former Sports minister the late Mark Aku made a conscious effort to reorganise the NFA the initiative fell short of expectation because the FA still depends on government for funding. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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