ZURICH // Amos Adamu, a Fifa executive committee member, will face an ethics panel hearing tomorrow after being implicated in a bribery scandal involving the vote for the 2018 and 2022 World Cups.
The Nigerian said at Fifa headquarters in Zurich, Switzerland, yesterday that his hearing is set for the same day another Fifa official, Reynald Temarii, faces a similar case.
Adamu declined to comment later after meeting with Sepp Blatter, the Fifa president, who has promised an "in-depth investigation" into the allegations against the two officials.
The probe follows a report in Britain's The Sunday Times newspaper - based on a sting investigation by undercover reporters - that Adamu and Temarii offered to sell their votes in the bidding for the World Cup.
The Fifa vote on the 2018 and 2022 World Cups is scheduled for December 2 in Zurich.
The Fifa ethics committee can enforce any punishment in Fifa's disciplinary code, including banning officials "from taking part in any kind of football-related activity".
Temarii, the Oceania Football Confederation president, said on Sunday that he made a mistake in talking to the reporters, who secretly filmed him asking for NZ$3 million (Dh8.45m) to fund a football academy in Auckland, New Zealand.
Adamu was also secretly filmed by the reporters, who posed as lobbyists for a consortium of American companies, saying that he wanted £500,000 (Dh2.92m) to build four artificial football pitches in Nigeria.
Adamu told the reporters he would want the money paid to him personally, saying: "Certainly if you are to invest that, that means you also want the vote."
He offered a "guarantee" to vote for the Americans in the 2018 race, but said they would be his second preference in 2022, for which Qatar is among the bidders.
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
