Abuja — The 23rd edition of Annual Central Bank of Nigeria Financial Institutions Cup will on Monday kick off with this year's top prize of N1 million going to the winners. The total prize money has been put down as N2.6 million. Sixteen teams will be competing in this year's event.

The head of Governor's Office at the apex bank Mr. Adeoye Ogulana said the registration of 16 teams in this edition was unique because micro-finance institutions also registered, to underscore the much desired grassroots philosophy of the country's sports.

He said aside the first prize, other prizes are N750,000 for the second place while 3rd place goes with N500,000 and the fourth place team goes home with N350,000.

He disclosed that the registered teams have been grouped into four zones with Group A in Lagos at the Union Bank playground. The teams to play there are Finbank, Intercontinental Bank, Spring Bank and Standard Chartered Bank. Group B will be played in Abeokuta, and teams on the card are Finbank, Afribank, Union Bank and First Bank.

Group C will play in Kaduna zone and the teams are Central Bank, Federal Ministry of Finance, Fortis Micro-finance Bank and Kaka Dusa Micro-finance. Group D will play in Jos at the Rwang Pam Stadium. Teams there are Accountant General of the Federation, Federal Inland Revenue Service, Unity Bank and Sadiqma Micro-finance Bank.

The Secretary General of the Nigeria Football Federation, NFF, Dr. Bolaji Ojo-Oba expressed happiness with the efforts of the apex bank for being the last institution standing as one of the corporate bodies still organising football competitions. Still, he lamented on the fact that the number of teams, who registered for this year's edition of the tournament, was few.

He used the occasion to appeal to the CBN to come to the rescue of the NFF and sponsor the national U- 13 championship, which is essentially grassroots.

Ojo-Oba then promised his federation's strong presence at the final in Kaduna on 19 December.