Mike Idoko and two former vice chairmen of Lobi Stars Football Club, Makurdi, are to refund the sum of two billion, four hundred and forty-five million, twelve thousand, five hundred and ninety-six naira, ninety-two kobo (₦2,445,012,596.92) to the coffers of the club, Sports247 reports.
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This follows the White Paper report on the Forensic Audit Investigation into Lobi Stars Football Club for the period of January 2020 to September 2024, released by the Benue State government.
Recall that the Governor of Benue State, Rev. Fr. Hyacinth Alia, on the 7th of October, 2024, inaugurated a Forensic Audit Investigation Committee led by San-Chir-Igba Donatus, ACA, 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 the 24th of November, 2024, the sum of three billion, seven hundred and fifty-nine million, eight hundred and twenty thousand, two hundred and sixty-nine naira, eighty-six kobo (₦3,759,820,269.86) accrued to the club during the period in question, but only one billion, three hundred and fourteen million, eight hundred and seven thousand, six hundred and seventy-two naira, ninety-four kobo (₦1,314,807,672.94) was accounted for, leaving a difference of ₦2,445,012,596.92.
The breakdown indicates that Mr. Mike Idoko and others who worked with him are to refund the sum of two hundred and forty-three million, nine hundred and fifty-five thousand, and eighty-one naira, forty-four kobo (₦243,955,081.44) for the period of 2020-2021.
Mr. Emmanuel Taman and others who worked under him are to refund four hundred and thirty-four million, three hundred and eighteen thousand, nine hundred and sixty-four naira, twelve kobo (₦434,318,964.12) for 2021-2022.
Mr. Dominic Iorfa and others are to refund the sum of six hundred and ninety-two million, four hundred and fifty-three thousand, nine hundred and twenty-seven naira, sixty kobo (₦692,453,927.60) for 2022-2023, and seven hundred and two million, eight hundred and seventy-five thousand naira (₦702,875,000) for 2023-2024, as well as three hundred and seventy-one million, four hundred and nine thousand, six hundred and twenty-three naira, seventy-six kobo (₦371,409,623.76) for 2024-2025.
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.
