A recent White Paper report released by the Benue State government has revealed that three former vice chairmen of Lobi Stars Football Club, Makurdi, are required to refund a staggering ₦2.445 billion to the club’s coffers. This development follows a Forensic Audit Investigation into the club’s finances from January 2020 to September 2024.
The investigation, led by San-Chir-Igba Donatus, ACA, uncovered significant discrepancies in the club’s accounting, with ₦3.759 billion accrued to the club during the period in question, but only ₦1.314 billion accounted for. The breakdown of the refund amounts is as follows:
– Mike Idoko and others*: ₦243.955 million for the period 2020-2021
– Emmanuel Taman and others*: ₦434.318 million for 2021-2022
– Dominic Iorfa and others*: ₦692.453 million for 2022-2023, ₦702.875 million for 2023-2024, and ₦371.409 million for 2024-2025
The committee’s report emphasized that all individuals and companies involved in financial transactions with the club were given fair hearing. The report also recommended that Lobi Stars be registered as a full company, generating revenue independently, and that sponsor funds be deposited directly into the club’s account.
