Daily Independent Online.
*
Wednesday, July 07, 2004.
Olowude seeks payment of N200m loan to
ministry
By Ejiro
Femi-Babafemi
Reporter, Lagos
The usual habit of
the Nigeria Football Association and its parent ministry borrowing money
without paying back despite making promises was once again brought to the fore
by the chief executive officer of Industrial General Insurance (IGI), Mr. Remi
Olowude.
Exposing them for
never being truthful in their dealings with the Insurance Company since
becoming the official Insurance partner of the Super Eagles, Olowude disclosed
that at a time, they were owed the sum of N27million, which he said they
managed to recover in part.
While NFA is still
owing N7million, which they have struggled to redeem in a barter arrangement.
The sports ministry, till date, is yet to settle their debt of N20 million
which was loaned them for the
prosecution of a major international competition about three years ago.
Disturbed at the
negative signals, Olowude contemplated revoking the contract but the arrival of
Mohammed whom he described as a very transparent gentleman saved the situation.
Olowude also paid tribute to the late sports minister, Ishaya Mark Aku for
leaving his name in the sands of time for his transparent policies.
Olowude said they
nearly opted out of sports sponsorship when at the All Africa Games, last year,
IGI and Unic Insurance where excluded as Insurance partners of Team Nigeria
considering their investments. In their stead, their rights were given to
A&G and Nicon Insurance Plc. “That is why UNIC no longer sponsors the
annual UNIC Athletics Classics,” hinted Olowude.
