Jan 13, 2025 - 11:41
By guardian.ng

Lobi’s N2.4b probe: My reputation unfairly tarnished, says Idoko

One of the three former vice chairmen of Lobi Stars FC, Mike Idoko, purportedly indicted by the White Paper on the Forensic Audit Investigation into the club’s financial transactions has described the report as not only distressing but a misrepresentative of his unwavering commitment and sacrifices for the club.

I introduced a system where all payments—salaries, bonuses, and other entitlements—were made directly to players and staff through their bank accounts. This ensured that everyone received their due promptly and accurately while eliminating loopholes for potential mismanagement of funds,” Idoko stated.

Idoko stressed that the financial demands of managing a professional football club are widely recognised, 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,” Idoko added.