Three former vice chairmen of Lobi Stars Football Club, Makurdi, have been directed to refund a total of ₦2,445,012,596.92 to the club’s coffers.
This directive was disclosed in a statement issued by Tersoo Kula, Chief Press Secretary to the Benue State Governor, on Friday in Makurdi. The statement follows the release of a White Paper based on the Forensic Audit Investigation into Lobi Stars’ finances from January 2020 to September 2024.
The investigation was initiated by Governor Rev. Fr. Hyacinth Alia, who on October 7, 2024, inaugurated a Forensic Audit Investigation Committee led by San-Chir-Igba Donatus. The committee was tasked with scrutinizing the club’s financial activities, studying handover notes from the outgoing board, and making recommendations to improve the club’s operations.
According to the audit report submitted on November 24, 2024, Lobi Stars generated ₦3,759,820,269.86 during the audit period. However, only ₦1,314,807,672.94 was accounted for, leaving an unaccounted balance of ₦2,445,012,596.92.
The breakdown of the refunds includes:
- ₦243,955,081.44 for the period of 2020-2021 under Mr. Mike Idoko and his team.
- ₦434,318,964.12 for 2021-2022 under Mr. Emmanuel Taman and his team.
- ₦692,453,927.60 for 2022-2023 under Mr. Dominic Iorfa and his team.
- ₦702,875,000 for 2023-2024, also under Mr. Iorfa.
- ₦371,409,623.76 for 2024-2025, under the same leadership.
The committee noted that all individuals and entities involved in financial dealings with the club were granted fair hearings during the investigation.
Key recommendations from the report include the registration of Lobi Stars as a full-fledged company to enhance revenue generation and ensure that all sponsorship funds are directly deposited into the club’s official account.
The Benue State government has expressed its commitment to implementing these recommendations to reposition Lobi Stars for greater accountability and success.