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Baba Ijebu’s Frozen Account Won’t Affect Lagos Stadium Renovation – State Ministry Of Sports
The Lagos State Ministry Of Sports said the Central Bank of Nigeria’s directive to banks, to freeze the accounts of Premier Lotto, operated by Baba Ijebu, won’t affect the renovation of the main bowl of the dilapidated National Stadium, Lagos.
Chief Kessington Adebutu, also known as Baba Ijebu, owner of Premier Lotto, last December, pledged to renovate the stadium’s main bowl following the highly-successful Adopt-A-Pitch initiative of the sports minister, Mr Sunday Dare.
Report had it that the initiative is meant to engage top businessmen and firms in the private sector to adopt a stadium for repairs across the country.
Mr Alike Dangote, last week began the renovation of the Moshood Abiola National Stadium, Abuja pitch, while illegal structures at the Lagos stadium were demolished as Mr Dare began the revival of both sports arenas through the initiative.
In a statement dated September 4, Mr Bello Hassan, CBN’s Director of Banking Supervision, asked banks to place the accounts of Premier Lotto and 37 other companies on a Post-No-Debit order, heightening fears that it could force Mr Adebutu to halt the renovation of the Lagos stadium.
The latest development could also stall reported talks between the FG and Mr Adebutu for the stadium’s concession to the billionaire businessman.
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The top sports ministry official, said that Mr Adebutu would “enjoy better consideration” if he applied for the concession of the stadium from the Federal Government.
“Baba Ijebu has only so far keyed into our Adoption Initiative in the aspect of Adopt-A-Pitch. Hence his decision to fix the main bowl in surulere football pitch, irrigation systems, score board and the tracks. Same thing Dangote Group is doing in Abuja.
That’s the first track and that’s what is happening now,” our source said.
“The second track is the Federal Government’s concession programme which was published last week. Baba Ijebu, if interested would have to apply and respond to it. His application will be considered and might enjoy better consideration in view of the fact that he might have invested N450m upfront.
“Baba Ijebu has shown a keen interest in the National Stadium (Lagos) for the sake of our youths.” the source added.
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