Stanbic IBTC, NFF Sign N2.3bn Annual Partnership To Insure National Team Players
Photo caption: From left, Demola Sogunle, Chief Executive of Stanbic IBTC Holdings PLC; Amaju Pinnick, President, Nigerian Football Federation and Bukola Olopade, Sports Consultant, Nigerian Football Federation at the signing ceremony of the sports partnership between Stanbic IBTC and NFF in Lagos.
As part of its contribution to the development of football in the country, Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has partnered with the Nigerian Football Federation (NFF) for the provision of group life insurance for all 35 players of the national team with a total sum assured of N1.75bn.
As part of the Memorandum of Understanding signed between Stanbic IBTC and the NFF effective from 2022, the players will also enjoy total personal accident insurance valued at N583m annually for the next three years, while Stanbic IBTC will also provide gender sensitivity support for female sports correspondents in Nigeria.
Commenting on the agreement, Dr Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, said “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. Id With this partnership, we will further drive the development of the youths via football.”
The partnership, he noted, was based on youth empowerment and football development which he described as values shared by Stanbic IBTC and the Nigerian Football Federation, adding that “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.”
He further acknowledged Amaju Pinnick, President of the NFF, in the development of football in Nigeria and the African continent, congratulating him on his election into FIFA’s Executive Council, and asserted that Nigeria would gain a lot from his membership of football’s highest decision-making organ.
On the partnership with Stanbic IBTC, Amaju Pinnick agreed that it is “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.”