The Benue State Government has revealed findings from a forensic audit investigation into the financial activities of Lobi Stars Football Club, Makurdi. The audit uncovered severe financial irregularities and has indicted three former vice chairmen of the club. These individuals have been ordered to refund a staggering ₦2,445,012,596.92 to the club’s coffers.

The forensic audit, which examined the club's finances from January 2020 to September 2024, found that a total of ₦3,759,820,269.86 accrued to Lobi Stars during the period under review. However, only ₦1,314,807,672.94 was accounted for, leaving an unaccounted balance of ₦2.4 billion.

The breakdown of the refund mandates includes:

• Mike Idoko and associates (2020-2021): ₦243,955,081.44

• Emmanuel Taman and associates (2021-2022): ₦434,318,964.12

• Dominic Iorfa and associates (2022-2025): ₦1,370,738,551.36

These findings were part of a White Paper report released by the Benue State Government and announced by Chief Press Secretary to the Governor, Sir Tersoo Kula.

Governance Issues and Recommendations

The committee, led by San-Chir-Igba Donatus, ACA, outlined several recommendations to ensure better governance and accountability. Key among them are:

1. Registration of Lobi Stars as a full-fledged company to promote revenue generation and operational independence.

2. Direct deposit of sponsorship funds into the club’s accounts to eliminate mismanagement risks.

3. Reducing the Ministry of Sports’ interference in the club’s daily operations to enable professional management practices.

Opinion: These recommendations, if implemented, could herald a new era of transparency and professionalism for Lobi Stars, setting a benchmark for other clubs in Nigeria.

A Stark Reminder of Accountability

The findings of this forensic audit serve as a cautionary tale for Nigerian football clubs. Financial mismanagement not only undermines the integrity of the sport but also erodes public trust.

Opinion: The swift action by the Benue State Government in commissioning this audit reflects a commendable commitment to accountability. However, it is crucial that these recommendations are not just documented but enforced. Regular audits and oversight mechanisms should become a standard practice across the Nigerian sports ecosystem.

Looking Ahead: A Turning Point for Lobi Stars

For Lobi Stars Football Club, this audit represents both a moment of reckoning and an opportunity for transformation. By adopting the recommended reforms, the club can position itself as a model for financial discipline and operational efficiency in Nigerian football.

Opinion: Transparency and professionalism are key to restoring the club’s reputation. The steps taken today could pave the way for Lobi Stars to reclaim its standing as a force in Nigerian football, inspiring confidence among fans, sponsors, and stakeholders.

Conclusion

The forensic panel's report underscores the importance of governance in sports administration. As the indicted officials face the consequences of their actions, Lobi Stars has a chance to rebuild on a foundation of accountability and professionalism, a move that could redefine the future of football in Benue State and beyond.