By Paul Michael
USA-based sports lawyer Pius Ndubuokwu warns that Nigerian clubs may miss out on billions of Naira from overseas player transfers due to inadequate financial records and documentation www.totorinews.com reports.
Ndubuokwu, who has successfully represented Nigerian clubs and coaches in FIFA compensation cases, explains that the new FIFA clearing house system requires clubs to participate in a player’s passport process, which involves review, completion, validation, and approval stages.
He emphasizes that clubs must have their documents in order, including:
- Ownership records
- Annual tax returns
- A retained lawyer to navigate the process
Ndubuokwu also advises clubs to be proactive when transferring players to countries without electronic registration systems, ensuring they contact the federation immediately to avoid missing out on rewards.
Poor documentation and non-compliance may result in Nigerian clubs losing significant revenue from player transfers.
Copyright © 2020 Totorinews.com All rights reserved. The information contained in Totorinews.com may not be published, broadcast, rewritten, or redistributed without giving due credit to Totorinews.com as the source.
