ABUJA — President Bola Tinubu has awarded Nigeria’s U-17 women’s national football team, the Flamingos, Federal Government Savings Bonds worth ₦100 million ($66,000) for each player following their historic victory at the FIFA U-17 Women’s World Cup.
The rewards were announced by First Lady Senator Oluremi Tinubu, who received the world champions on behalf of the President during a formal reception at the State House in Abuja on Wednesday afternoon.
Under the presidential reward package, the team’s head coach also received an FGN Savings Bond valued at ₦100 million, while members of the technical crew were awarded ₦50 million each in cash.
The Flamingos created history recently by becoming the first African nation to win the FIFA U-17 Women’s World Cup tournament.
Financial security and youth career protection
Chairman of the National Sports Commission (NSC), Shehu Dikko, explained that the decision to issue long-term savings bonds rather than direct cash payouts was a deliberate policy designed to safeguard the financial futures of the teenage athletes.
“There is no need to flood them with money that can distort their career,” Dikko told reporters at the Villa. “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.”
- Monthly Yield: The annual yield will provide each player with over ₦1.1 million in monthly passive income to cover educational expenses, athletic training, and living costs without liquidating the principal.
- Maturity Milestone: The 5-year investment structure ensures that the principal balance matures when the players reach adulthood, allowing them to make mature financial choices.
- Squad Transition: Sports authorities confirmed that technical reviews are underway to determine which players remain eligible for the next U-17 cycle, while those aging out will transition to the U-20 national team structure.
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