Onigbinde believes that the peaceful resolution between the nation's football federation and the aggrieved duo of Dr Sam Sam Jaja and Barrister Ray Nnaji is tainted with defects.
The Caf instructor questioned the reason of the football house rewarding both men with positions and compensation as part of the peaceful resolution.
He added that the resolution of compensating Jaja and Nnaji negates the statutes of the world football governing body, Fifa of taking matters of the game to a law court.
"It is good that a move for the peaceful resolution of the crisis that has engulfed our football in the nation has been embraced. But my worry is the way and manner by which they went about resolving it.
"If you say someone has done something wrong by going against the statutes of the game and you resolve your differences by compensating them with positions and cash then something is wrong and we should be worried.
"This is a bad precedence for the game as it is capable of haunting the game in future because we have decided to leave the door open for other aggrieved persons to also come out and do same in order to be compensated," Onigbinde said to SuperSport.com.
On Tuesday, the NFF agreed to make Jaja a honourary member of the nation's football federation as well as reverse his disqualification from the 2010 Nigeria Premier League election.
The football federation also assured it will issue "a letter of unreserved apology" to Jaja for the hurt caused by the disqualification.
On the other hand, Jaja promised to discontinue the enforcement of the court judgement with suit number FHC/ABJ/CBS/170/10 of January 20, 2012 that declared the NFF and NPL illegal bodies on the grounds that the federation keeps its own bargain of the terms of the peaceful resolution.
Nnaji also agreed to end his legal tussle with the football house after the NFF said it will lift his ban from football activities in the country and publicize it.
The NFF also agreed to pay "reasonable compensation" to Nnaji and "pay his outstanding referee allowance, subject to verification."
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