The Athletics Federation of Nigeria (AFN) has reported that N45million of the International Association of Athletics Federations (IAAF) fund is now missing.
The AFN is unable to explain how extra grant issued by the International Association of Athletics Federations (IAAF) was utilised.
IAAF mistakenly awarded the AFN $150,000 (N54million) instead of $15,000 (N5.4million)
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 (N48.6million); however, the money had already disappeared.
The AFN’s vice-president, Olamide George, said that the majority of the board members knew nothing about the excessive grant.
Just last month, the Joint Admissions and Matriculation Board (JAMB) was unable to account for around N36 million, credited to have been swollen by a mystery snake.