Pillars Blazes the Trail: Becomes 1st NPFL Side to Provide Quarterly Guarantee of N25m

Must Read

Nigerian Newspaper Headlines Today: 28th February 2020

Good Morning, welcome to Information Nigeria’s Newspaper headlines for today, 28th February 2020.Here are the major headlines.Lagos Confirms First...

Europa: Ighalo Scores As Manchester United Runs Riot Against Club Brugge

Nigerian International, Odion Ighalo has finally found the back of the net for the Red Devils as they run...

Arsenal Dumped Out Of Europa By Olympiakos

Arsenal has been dumped out of the Europa league by Greek side, Olympiacos after losing 2-1 at the Emirates...

BREAKING: First Case Of Coronavirus Confirmed In Lagos

The Federal Ministry of Health has confirmed a coronavirus disease (COVID-19) case in Lagos State, Nigeria.The case, which was...

Ondo 2020: Why Akeredolu Deserves Another Term – Falana

With the Ondo state gubernatorial poll drawing closer, popular human rights activist lawyer, Femi Falama(SAN) has drummed massive support...
Omaku Cephas
Cephas is a Content Strategist who loves to write about travels and sports. He's a proud supporter of local publishers and wants to see them get more creative with genuine content. He's keen on rekindling your passion for anything sports and travels.

Reigning Glo Premier League champions Kano Pillars have become the first Nigeria Professional Football League (NPFL) side to comply with the 2013/14 season registration requirement of providing a financial performance guarantee.

On Wednesday March 26, the Kano State-owned football team- in a letter to the League Management Company (LMC) dated March 17, 2014- attached a Performance Guarantee for N25 million (over £91, 500) from a Fidelity Bank Plc, Kano Branch with reference number FB/007/OBG/0314/1034.

It represents Pillars’ first provision of the quarterly guarantee of the total amount of N100m under the season’s licensing requirements.

Kano Pillars Submits Documents Confirming the Provision of the N25m Performance Guarantee Sum to the LMC.
Kano Pillars Submits Documents Confirming the Provision of the N25m Performance Guarantee Sum to the LMC.

“We are delighted by the development, Kano Pillars have demonstrated a capacity to operate as a professional football club in more ways and it is our expectation that other clubs will do same and avoid the consequences of late or non-compliance,” LMC chairman Hon. Nduka Orabor commended the ‘Sai Masugida’.

The LMC had prior to the start of the ongoing campaign reduced the N100m total sum of the performance guarantee to a quarterly renewable provision of N25m for ease of operations and administration for the participating clubs.

Clubs where hitherto mandated to provide their N25m performance guarantee sum- renewable every quarter- on or before Match Day 9’of the season.

Failure to adhere by the provision is tantamount to a reduction of six points and six goals in the defaulting clubs’ already accrued points.

Meanwhile the issue of clubs’ failure to pay-up players’ salary is now a thing of the past as NPFL clubs are required to deposit signed copies of each player’s contract at the point of registration to the professionals no longer play without a valid contract.

“We will go further to demand that payments are made to the players bank account. Cash transactions are to be abolished. Clubs have been directed to open salary accounts for each player .This way, we will ensure that no club owes or under pays their staff”, Irabor explained.

- Advertisement -
Ad ==> Discover how a young Nigerian graduate now makes a consistent 40k per week doing a legitimate online business. You too can start yours now, click here!!!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More Articles Like This

- Advertisement -