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A major discrepancy has been found in CAF's accounts after an external audit.
The Confederation of African Football's (CAF) audit and compliance committee has uncovered potential financial irregularities in the body’s books.
They found that $16 million in unaccounted expenses was not omitted from the official records; hence, CAF’s losses over the period reviewed should have exceeded the reported $9.25 million.
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09:13 - 19.10.2024
CAF Awards: 9 Nigerians that have won the prestigious the ‘African Footballer of the Year’ award
The Confederation of African Football (CAF) Footballer of the Year award is a prestigious accolade bestowed upon the best African player in a given year, and several Nigerians have won this award.
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20:36 - 18.10.2024
Panic in Libya as CAF demands documents and answers for Super Eagles poor treatment
CAF has reportedly given the Libyan Football Association until the 20th of this month to submit the documents relating to the cancelation of their AFCON2025 qualifier against Nigeria.
What happened
The Guardian reported to have seen a letter sent to members of CAF’s executive committee last Saturday, which details that external auditors found irregularities in CAF’s accounts.
According to the report, $12 million of the unaccounted funds were attributed to “technical costs not allocated to clubs, federations and host countries.“ The remainder were reported to be for “unrecorded expenses that should be accrued and recorded,” “unrecognised provision for debt balances,” and “other debit balances.”
A few months ago, CAF’s general secretary, Veron Mosengo-Omba, revealed a debt figure of $9.25 million, and because he inherited a deficit of £30 million, he announced it as evidence they were reducing their debt. However, according to the audit, the debt should be around $25.43 million.
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