Iorfa, Others to Refund ₦2.445 Billion to Lobi Stars
Three former vice chairmen of Lobi Stars Football Club have been directed to refund a total of ₦2,445,012,596.92 following the release of the White Paper from the forensic audit into the club’s finances.
The audit, commissioned by the Benue State Government, covered January 2020 to September 2024. Governor Hyacinth Alia inaugurated the investigative committee, led by San-Chir-Igba Donatus, ACA, on October 7, 2024.
The report revealed that ₦3,759,820,269.86 accrued to the club during the audited period, but only ₦1,314,807,672.94 was accounted for.
Breakdown of Refunds
The report attributed the missing funds to mismanagement under three leadership tenures:
- Mike Idoko and his team must refund ₦243,955,081.44 (2020-2021).
- Emmanuel Taman and associates owe ₦434,318,964.12 (2021-2022).
- Dominic Iorfa is liable for ₦692,453,927.60 (2022-2023), ₦702,875,000 (2023-2024), and ₦371,409,623.76 (2024-2025).
The audit emphasized that individuals and firms involved in transactions were formally invited for questioning and given opportunities to explain discrepancies.
Recommendations
The committee proposed measures to ensure better financial management and autonomy for Lobi Stars:
- Corporate Registration: The club should become a registered company with the mandate to independently generate revenue.
- Direct Sponsorship Funds: All sponsorship revenue should go directly into the club’s account to avoid mismanagement.
- Operational Independence: The Ministry of Sports should no longer interfere in the club’s daily operations.
Government’s Stand
The findings highlight a significant step toward ensuring accountability in Lobi Stars’ administration. Governor Alia’s administration remains committed to revamping sports governance in the state.
