Tinubu rewards Flamingos with N100m bonds each

President Bola Tinubu has rewarded the Flamingos, Nigeria’s U-17 women’s national football team, with Federal Government Savings Bonds worth N100 million each following their victory at the FIFA U-17 Women’s World Cup.

The First Lady, Senator Oluremi Tinubu, announced the presidential gesture on Wednesday while hosting the victorious squad on behalf of the President at the State House in Abuja.

According to the official breakdown, the head coach received a savings certificate equivalent to the players’ N100 million, while each member of the technical crew was handed N50 million in cash.

The Flamingos recently shattered international records by becoming the first African team to win the U-17 Women’s World Cup.

The Chairman of the National Sports Commission, Shehu Dikko, while explaining the rationale behind issuing bonds instead of cash to the young athletes, stated that the decision was a deliberate move to protect the teenagers’ long-term interests,  guaranteeing them monthly dividends of over one million naira.

“There is no need to flood them with money that can distort their career. So we are now giving them what we call an FGN savings bond for like five years. That savings bond comes at like 14, 12 per cent interest annually, meaning each of them will be adding like N1.1m plus monthly for the next five years”, Dikko said.

The NSC Chairman added that the expected monthly returns will provide a steady stream of funds to cover the girls’ education, training, and family needs while they remain active in football.

He stated that by the time the bonds mature, the players will be adults capable of making independent financial decisions.

“I don’t think there is any father that wants to give his 16-year-old, 15-year-old, N100m at this age. But you can invest for your 16-year-old so that at 20 they will have money to set their life,” he explained.

Addressing the future of the squad and the technical staff, the NSC Chairman confirmed that upcoming decisions will rely on the players’ age eligibility for the next U-17 cycle. He added that players who have aged out will likely transition to the U-21 category alongside their current coach to maintain team cohesion and continued development.