GTI Group launches world’s first football fund, targets N5bn

The Nigerian capital market has opened a new vista of opportunities for the development of the Nigerian sports ecosystem with the launch of The Nigeria Football Fund (TNFF) by GTI Group, a leading finance and investment group. TNFF is a collective investment scheme or mutual fund that combines the regular advantages of a mutual fund […]

The Nigerian capital market has opened a new vista of opportunities for the development of the Nigerian sports ecosystem with the launch of The Nigeria Football Fund (TNFF) by GTI Group, a leading finance and investment group.

TNFF is a collective investment scheme or mutual fund that combines the regular advantages of a mutual fund with unique propositions of a structured fund.

Promoted by GTI Group and being managed by GTI Asset Management & Trust Limited, TNFF is raising N5 billion through an initial public offering (IPO) of 5.0 billion units at a par value of N1 per unit.

Speaking at the formal launch of the fund in Lagos, a former Deputy Governor of the state, Otunba Femi Pedro, said the fund will fill the missing link in the development of Nigerian sports.

“This is an historic occasion, a milestone in the development of Nigerian sports. I have no doubt that this will unlock the potential of the sports ecosystem. I personally endorsed this project.

“There is no shortage of investment assets in the sports industry and I’m sure investors will get good returns,” Pedro, an astute finance expert, said.

Chairman, House of Representatives Committee on Sports, Hon. Olumide Osoba, commended GTI for its innovativeness, noting that the investment proposal supports the government’s efforts at diversifying the economy.

Vice President, Nigeria Football Federation (NFF), Mr. Seyi Akinwunmi, said TNFF will herald a lot of greatness in the Nigerian sports industry with several multiplier effects on the economy, security and youth employment.

Group Managing Director, GTI Group, Mr. Abubakar Lawal, said TNFF will serve as an enabler for sustainable funding of football and other sports, with a target of growing sports’ contribution to national Gross Domestic Product (GDP) to 0.5% within the next five years.