Abuja — Following persistent media reports of alleged fraud in the LOC, and His Excellency, Vice President Goodluck Jonathan's comment on Tuesday that the Federal Government of Nigeria would probe the finances of the global event organising committee, the Board of the LOC has backed the resolve of the government to probe the activities of the LOC.

According to the Board, they are fully subscribed to President Umaru Musa Yar' Adua's zero tolerance for corruption as well as his policy of accountability and transparency in governance and therefore, supports the planned probe of the finances of the LOC for two basic reasons, it is consistent with the Yar'Adua administration transparency policy; and will enable every actor in the organisation of the tournament, particularly committee chairmen who have been unfairly portrayed as looters of our national treasury, to defend their good names.

The statement said for the avoidance of doubt, it reinstates that all its 15 committees got and disbursed was only about N900million out of the N13billion released to the LOC by the Federal Government and in compliance with the Board's directive of Friday, November 6, 2009, most of the committees have since retired this sum and, therefore, await the release of the balance of about N1.4billion budgetary allocation due to them to enable them offset their outstanding claims and liabilities.

The Board however appeals to the media and the public to bear these facts in mind whenever they interrogate the organisation of the tournament while it also uses this opportunity to congratulate the Golden Eaglets for their sterling performance, which earned them a silver medal and makes them the number two cadet team in the World.