Lobi Stars: Dominic Iorfa Two Other Former Vice Chairmen Indicted, To Refund ₦2.445b

Lobi Stars: Dominic Iorfa Two Other Former Vice Chairmen Indicted, To Refund ₦2.445b

Sampson Adedeji

Three former vice chairmen of Lobi Stars Football Club, Makurdi, have been ordered to refund a total of ₦2,445,012,596.92 to the club following the release of a White Paper report on the forensic audit investigation into the club's financial activities from January 2020 to September 2024 by the Benue State government, BSNSports.com.ng reports.

On October 7, 2024, Benue State Governor, Rev. Fr. Hyacinth Alia, inaugurated a Forensic Audit Investigation Committee, chaired by San-Chir-Igba Donatus, ACA, to review the financial records of Lobi Stars. The committee was tasked with examining the club’s income, evaluating handover notes from the previous board, and recommending actions to ensure the club’s financial health.

The committee's report, submitted on November 24, 2024, revealed that the club received ₦3,759,820,269.86 during the period under investigation, but only ₦1,314,807,672.94 was properly accounted for. This left a discrepancy of ₦2,445,012,596.92.

The breakdown of the refunds shows that Mr. Mike Idoko and his team are to return ₦243,955,081.44 for the 2020-2021 period, Mr. Emmanuel Taman and his team must refund ₦434,318,964.12 for 2021-2022, while Mr. Dominic Iorfa and his associates are required to repay ₦692,453,927.60 for 2022-2023. Additionally, they must return ₦702,875,000 for 2023-2024 and ₦371,409,623.76 for 2024-2025.

The committee emphasized that all individuals and entities involved in the financial transactions of the club were invited for hearings and given fair treatment.

Among the key recommendations was the registration of Lobi Stars as a fully-fledged company with the responsibility to generate its own revenue, along with ensuring that funds from the club’s sponsors be deposited directly into its account. The committee also recommended that the club’s operations be independent of the Ministry of Sports to prevent interference in its day-to-day management.