Lobi Stars: Three Ex-Vice Chair To Refund ₦2.445bn – White Paper Report

A White Paper Report on the Forensic Audit carried out on Lobi Stars Football Club of Makurdi, Benue State between January 2020 and September 2024, has directed three former vice chairmen of the Club, to refund 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.
The White Paper Report submitted on November 24, 2024, and released by the Benue State government, noted that 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 under review.

The White Paper said that 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.
Benue State Governor, Rev. Fr. Hyacinth Alia, on October 7, 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.
The White Paper stated that the breakdown indicated that The White Paper Stated; “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,” it stated.
The committee said that all individuals and companies involved in financial transactions with the club within the time covered were formally invited and given fair hearing.
It therefore 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.