Lobi Stars: Ikya inherits N200m debt burden, vows NPFL return

By Peter Duru, Makurdi

Chairman of Lobi Stars Football Club, Terver Ikya, has revealed that he inherited debts exceeding N200 million upon assuming leadership of the club, describing the financial situation as a major hurdle to rebuilding the team.

Ikya made the disclosure on Wednesday, noting that the club’s liabilities have continued to rise amid ongoing legal and operational challenges.

He explained that beyond the huge debt profile, his administration met a club plagued by low morale, unresolved coaching issues, and an unwieldy squad of 67 contracted players.

He criticised the previous management for lacking professionalism in running the club saying “I met a system that was run almost like a charity organisation. That is not sustainable for a professional football club,” Ikya said.

Among the financial pressures facing the club is a court-ordered payment of N47 million tied to a coastal bus loan. He further disclosed that Lobi Stars is currently involved in over 16 arbitration cases, including a dispute with former Super Eagles forward and coach, Daniel Amokachi.

Despite these setbacks, Ikya said the team showed resilience by finishing second last season, narrowly missing promotion to the Nigerian Premier Football League (NPFL). “Our target this season is promotion,” he stated confidently.

As part of efforts to reposition the club, the chairman said one of his first decisions was to return the team to Makurdi after a costly relocation to Nasarawa, which he said denied the team vital home support.

He also announced plans to reduce the squad size to 35 players, including five from the youth team, stressing that recruitment under his leadership would be strictly based on merit.

On funding, Ikya disclosed that the club is actively seeking sponsorship deals, particularly for kits and other logistics.

He addressed concerns over delayed salary payments, attributing the issue to a transition to a new bank but assured that normal payment processes have now resumed.

Despite the financial strain, he noted that the Nigeria National League recently recognised Lobi Stars as one of the most disciplined teams, while Benue State Governor, Hyacinth Alia, was honoured as the best supporting club sponsor.

“Now that we have the opportunity to recruit our own players, I don’t think we have any excuse not to be promoted,” Ikya added.