Former Lobi Stars Vice Chairman, Idoko, washes hands off alleged embezzlement of money

Posted : 12 January 2025

A former Vice Chairman of Lobi Stars FC, Mike Idoko, has washed his hands of the alleged misappropriation of funds accusations made by the Forensic Audit Investigation into the financial transactions set up by the state government, which found him guilty of the embezzlement scandal within the club during his tenure.

Idoko stated that he had never at any time misappropriated the club’s funds, as alleged by the committee that found him guilty. Rather, he claimed he delivered selfless service.

"In light of recent reports and allegations stemming from the White Paper on the Forensic Audit Investigation into the financial transactions of Lobi Stars Football Club, I, Mike Idoko, feel compelled to clarify certain points and set the record straight regarding my stewardship of the club.

"While I fully respect the investigative process and the intent to ensure transparency and accountability, I must unequivocally state that the claims against me and my tenure are both distressing and misrepresentative of my unwavering commitment and sacrifices for the club.

"When I assumed leadership of Lobi Stars Football Club in 2016, the club faced a dire need for stability, direction, and a revival of its glory days.

"Through tireless effort and strategic management, I was able to achieve the following milestones:

**2016**: The club finished 5th in the league table.

**2017**: The team secured 7th place, demonstrating consistent performance.

**2018**: Lobi Stars won the Nigeria Professional Football League title, marking a historic return to continental football through qualification for the CAF Champions League 2018/2019.

"This achievement mirrored the success I had as Team Manager during the 1999/2000 season.

**2019**: The team finished as runners-up, with another strong showing in the 2019/2020 season, finishing in 3rd place.

**2021**: At the time of my exit in April, the team was ranked 5th in the table.

The financial demands of managing a professional football club are widely recognized, and government subventions often fall short of the immediate needs for salaries, logistics, and matchday expenses.

"On numerous occasions, I personally sourced funds to ensure the club’s operations continued seamlessly. This included mortgaging personal properties and depleting my resources to keep the club functioning.

"These sacrifices came at a significant personal cost, including strain on my family and the loss of personal assets. However, my love for Lobi Stars FC and my commitment to its success have never wavered.

"As one of Nigeria’s most accomplished football administrators, my track record spans five of the six geopolitical zones, with each marked by significant achievements.

"The reputation I have built over decades in Nigerian football is now being unfairly tarnished, despite my dedication to the sport and to Lobi Stars."

Former Lobi Stars Vice Chairman, Idoko, washes hands off alleged embezzlement of money

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