Three former vice chairmen of Lobi Stars Football Club, Makurdi are to refund the sum of N2,445,012,596.92 to the coffers of the club.
This was contained in the White Paper on the Forensic Audit Investigation into Lobi Stars FC from January 2020 to September 2024.
The White Paper was released by the Benue State Government.
The Eagle Online recalls that the Governor of Benue State, Rev. Fr. Hyacinth Alia, on October 7, 2024 inaugurated a Forensic Audit Investigation Committee led by San-Chir-Igba Donatus to examine the funds of Lobi Stars Football Club, Makurdi.
The terms of reference included studying the handover notes submitted by the outgoing board of the club, identifying the club’s income, making recommendations to the government on appropriate actions to be taken in the interest of the club, and advising the government on the way forward.
According to the report, which was submitted on November 24, 2024, N3,759,820,269.86 accrued to the club during the period in question, but only N1,314,807,672.94 was accounted for, leaving a difference of N2,445,012,596.92.
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The breakdown indicated that Mike Idoko and others who worked with him are to refund N243,955,081.44 for the period of 2020-2021.
Emmanuel Taman and others who worked under him are to refund N434,318,964.12 for 2021 to 2022.
Dominic Iorfa and others are to refund N692,453,927.60 for 2022 to 2023, and N702,875,000 for 2023 to 2024, as well as N371,409,623.76 for 2024 to 2025.
The committee made it clear that all individuals and companies involved in financial transactions with the club within the time covered were formally invited and given fair hearing.
The committee recommended, among other things, that Lobi Stars be registered as a full company with the responsibility to generate revenue, and that funds from the club’s sponsors be deposited directly into the club’s account.
The report also advocated for the independence of the club, stating that the Ministry of Sports should no longer control or interfere in the day-to-day running of the club.
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