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Benue State Unveils White Paper On Lobi Stars Forensic Audit, Indicts Three Officials
The forensic inquiry panel appointed by the Benue State Government to investigate Lobi Stars Football Club, Makurdi, has found three former vice chairmen of the club guilty of financial mismanagement. They have been directed to refund a total of ₦2.445 billion to the club’s coffers.....KINDLY READ THE FULL STORY HERE▶
This follows the White Paper on the Forensic Audit Report covering the club’s finances from January 2020 to September 2024, released by the state government.
The findings were made public in a statement from Governor Rev. Fr. Hyacinth Alia’s Chief Press Secretary, Sir Tersoo Kula.
The statement outlines that Governor Alia initiated a forensic investigation into the club’s finances on October 7, 2024, led by San-Chir-Igba Donatus, ACA. The investigation examined the club’s financial records, including income and expenses, and made recommendations to ensure the club’s better management moving forward.
The report shows that the club earned ₦3.76 billion between 2020 and 2024, but only ₦1.31 billion was accounted for, leaving a discrepancy of ₦2.45 billion.
The three vice chairmen implicated are Mike Idoko, Emmanuel Taman, and Dominic Iorfa, with each being instructed to return funds for the respective years they oversaw:
- Idoko and his team are to refund ₦243.96 million (2020-2021),
- Taman and his team must return ₦434.32 million (2021-2022),
- Iorfa and his associates are to repay ₦692.45 million (2022-2023), ₦702.88 million (2023-2024), and ₦371.41 million (2024-2025).
The committee emphasized that all individuals and companies involved in financial dealings with the club during this period were given the opportunity for a fair hearing.
The report further recommends that Lobi Stars be formally registered as a company to handle its finances independently, with sponsors’ funds directly deposited into the club’s account. It also suggests that the Ministry of Sports should no longer interfere with the club’s daily operations.
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