Ikya: I inherited N200m debt as Lobi Stars chairman 

Ikya: I inherited N200m debt as Lobi Stars chairman 

Chairman of Lobi Stars of Makurdi, Terver Ikya, has disclosed that he inherited debts amounting to over N200 million when he assumed leadership of the club, saying the liability has also continued to rise.  

The chairman disclosed this in a review if the club's performance in the Nigeria National League (NNL).

Ikya, who outlined several challenges he faced upon taking charge, including low morale of players, unresolved coaching disputes, and a bloated squad of 67 contracted players, said the challenges of Lobi Stars are being addressed by his leadership to return the club to premiership.

He lampooned the previous administration for running the club “like a charity organisation,” saying that Lobi Stars must be managed professionally.  

He noted that one notable financial burden involves a coastal bus loan, with a court judgement ordering the club to pay ₦47 million. 

Ikya also revealed that the club is entangled in more than 16 arbitration cases, including one with former coach Daniel Amokachi.  

He said despite the hurdles, Lobi Stars finished second last season, narrowly missing promotion back to the Nigerian Premiership. 

He expressed his determination to ensure the club is promoted this season, saying that one of his first interventions was returning the team to Makurdi, after a costly displacement to Nasarawa deprived them of home support. 

He, however, pledged to streamline the squad to 35 players, with five promoted from the youth team, insisting that recruitment would be strictly merit-based.  

On sponsorship, Ikya confirmed that the club is seeking major partners for kits and other needs. 

He further addressed rumours of delayed staff payments, attributing them to a transition to Novus Bank, but assured that salaries were now being paid.  

He said inspite of financial strain, the Nigeria National League recognised Lobi Stars as one of the most disciplined teams, while Benue State Governor, Rev Fr Hyacinth Alia was honoured as the best supporting club sponsor.  

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