The Forensic Audit Investigation Committee, constituted by Benue State Governor Hyacinth Alia, has directed three former vice chairmen of Lobi Stars Football Club to refund ₦2.445 billion to the club’s coffers.
The directive follows an investigation into the income and expenditure of the club between January 2020 and September 2024.
The committee, led by San-Chir-Igba Donatus, was inaugurated on October 7, 2024, to examine the financial records of the club, review handover notes from the outgoing board, and provide recommendations for improved management.
According to a statement by the Chief Press Secretary to the Governor, Tersoo Kula, the committee’s White Paper revealed significant financial discrepancies.
The report indicated that ₦3.76 billion accrued to Lobi Stars during the period under review, but only ₦1.31 billion was accounted for, leaving a shortfall of ₦2.445 billion.
The investigation found that former vice chairman Mike Idoko, alongside his associates, was responsible for ₦243.96 million of the missing funds during 2020-2021.
His successor, Emmanuel Taman, and his team were linked to ₦434.32 million during 2021-2022, while Dominic Iorfa and his team were held accountable for ₦1.77 billion between 2022 and 2024.
The committee clarified that all individuals and companies involved in financial dealings with the club during this period were invited for questioning and granted a fair hearing.
Among its recommendations, the committee advised that Lobi Stars should be registered as an independent entity to enhance its revenue-generating capacity. It also suggested that all sponsorship funds be deposited directly into the club’s account and called for the Ministry of Sports to cease interference in the club’s day-to-day operations.
The White Paper was submitted on November 24, 2024, and Governor Alia is expected to take decisive action based on the findings to ensure transparency and accountability in the club’s management.
