Minister of Youth and Sports development, Sunday Dare has approved, the sum of $135, 000 to be refund to the International Association of Athletics Federations (IAAF).
It would be recalled that the International Association of Athletics Federations (IAAF) mistakenly granted the Athletics Federation of Nigeria (AFN) $150,000 instead of $15,000.
The amount paid was supposed to be the annual grants to member federations for the year 2017.
When the IAAF accountants discovered the error, the AFN was asked to refund the $135,000 excess cash which suddenly became a difficult issue and also generated controversy in the country.
The Minister confirmed his approval via his official twitter handles yesterday and promised that the money will get to international body, adding that it would improver Nigeria’s reputation.
“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 tweeted.
It would be noted that, IAAF had warned Nigeria would incur sanctions if the $134,000 that was overpaid was not returned which the immediate former sports minister, Solomon Dalung had interpreted as a threat that the IAAF would ban Nigeria from international competition.
This was later categorically denied by the IAAF, which insisted it had “no intention” to suspend the AFN.
Few hours to his departure, Dalung returned 50% of the missing money to the IAAF.
It was gathered that Dalung in a phone call with the IAAF’s president, Sebastian Coe promised to return some money which he did before he left office.
The IAAF revealed at the time that it had received an unspecified “small amount” from the AFN.