Super Eagles defender Igoh Ogbu has reiterated the need for Nigerian footballers to develop the habit of saving and investing early in their careers, warning that high earnings can leave players financially vulnerable if they fail to prepare for life after football.
The Slavia Prague centre-back said young players should not wait until they secure lucrative contracts or join big European clubs before learning how to manage their money.
In an interview with the American sports website RG.org, where he discussed various issues, Ogbu said he was concerned that some footballers get carried away by their earnings and neglect to prepare for retirement.
“A lot of footballers earn a lot of money and that makes them forget that they have to prepare for the rainy days,” he said.
The 26-year-old advised players to make saving and investing a priority from the beginning of their professional careers, regardless of how much they earn.
“You need to understand that the moment you come to Europe, the first thing you need to learn is to start saving and learn about investing. You have to invest,” he said.
Ogbu also challenged the mindset among young players that financial planning should begin only when they start earning substantial salaries.
“When I talk about investment, people say, ‘Oh, I haven’t been in a big club,’ but I want you to learn something when you have little, not when you have much. Because when you have much without having learned when you had little, you won’t be able to do much when you have much.”
He warned that expecting regular paydays could encourage players to spend without considering the uncertainty of their careers.
“Nowadays, young players always think the next payday is too close — after a few trainings, I’m going to get another one,” he said.
“This mentality is somehow bad. So when we get older, when we are playing, and it is time for us to leave the stage, we force our bodies to keep going because we are not ready to accept reality and tell ourselves, ‘Now it is time to let go.’ But a good farmer always saves seeds for the next season.”
Financial security after football
Ogbu’s warning reflects wider concerns about professional footballers’ preparedness for life after retirement.
A 2021 survey published by the global players’ union, FIFPRO, found that 67 per cent of 282 active and retired footballers surveyed across 33 countries were unsure about their career paths after football. The survey also found that 54 per cent had received no assistance with planning for a second career.
Credit: NG Super Eagles X Page
Research has also highlighted concerns about financial literacy among professional footballers in Africa.
A 2023 study involving 300 professional footballers in Ghana’s Premier League found low levels of financial literacy and poor financial behaviour among respondents. The researchers identified savings and investment habits as important factors in achieving financial well-being.
Case study
Former Super Eagles defender Ben Iroha offers a practical example of how such preparation can shape life after football. In an interview with PREMIUM TIMES, Iroha said he began planning for retirement while he was still an active player.
After Nigeria made its World Cup debut in the United States in 1994, Iroha identified Dallas, Texas, as the city where he wanted to settle. He was impressed by the Nigerian community there and the support the Super Eagles received during their opening match against Bulgaria.
He bought a house before retiring and eventually moved to Dallas with his family, where he established a spare parts and car business. According to Iroha, the move and the business were part of a plan he had discussed with his wife long before he left professional football.
His experience has informed his advice to current players. While acknowledging that modern footballers have better access to managers and financial advisers, Iroha warned that their income and lifestyle could change significantly after retirement.
“The money’s gonna go,” he said, urging players to control their spending and invest in property and other businesses.
He also warned that letting spending rise alongside earnings could leave even top-level players bankrupt.
Ogbu, who joined Slavia Prague in January 2023 after spells with Norwegian clubs Levanger, Rosenborg, Sogndal and Lillestrøm, has made 87 appearances for the Czech club across all competitions.
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