The team’s head coach also received a savings bond certificate worth ₦100 million, while each member of the technical crew was given ₦50 million in cash.
The announcement was made by First Lady, Senator Oluremi Tinubu, who received the players and their officials on behalf of the President during a special reception held at the State House, Abuja, on Wednesday.
The Flamingos recently made history by becoming the first African team to win the FIFA U-17 Women’s World Cup, earning widespread recognition for their outstanding performance.
Chairman of the National Sports Commission, Shehu Dikko, explained that the decision to reward the players through savings bonds rather than direct cash payments was deliberate, given that most members of the team are teenagers.
According to him, the arrangement is designed to protect their financial future while ensuring that they benefit from the rewards when they are older.
“There is no need to flood them with money that can distort their career,” Dikko said.
He explained that the five-year Federal Government Savings Bonds would attract annual interest of between 12 and 14 per cent, providing the players with regular financial returns during the investment period.
Dikko said the investment would allow the young footballers to concentrate on their education and sporting development without the pressure of managing large sums of money at an early age.
He added that by the time the bonds mature, the players would be old enough to make informed decisions about their finances and future investments.
“I don’t think there is any father that wants to give his 16-year-old, 15-year-old, ₦100m 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 stated.
On the future of the team and its coaching staff, Dikko said decisions would depend on the players’ eligibility for the next U-17 competition cycle.
He explained that players who remain within the age limit could continue with the team, while those who progress to higher age-grade competitions could move with their coach.
