Lobi Stars Establish Committee to Audit Player Contracts Amid N200m Debt Crisis

Posted : 07 May 2026

Lobi Stars Football Club has taken a significant step toward administrative transparency by forming a committee to review the contractual status of its entire playing squad. This decision follows a directive from the club’s chairman, Terver Ikya, who recently revealed that the organization is grappling with a debt burden exceeding N200 million. The audit is designed to ensure that all player agreements comply with official club obligations and financial capacities.

The committee is chaired by Terzungwe Chugh, with Harry Yachi and Finbar Yanmelu serving as members. Austin Tyowua, the club's senior media officer, will act as the secretary for the proceedings. This team has been tasked with verifying the authenticity of every contract and reconciling financial claims with actual commitments. The move is seen as a direct response to the club's involvement in over 16 arbitration cases, including a high-profile dispute with former coach Daniel Amokachi.

According to a statement from Media and Communications Director Emmanuel Uja, all players are required to appear for an interface session. This meeting is scheduled for Thursday, May 7, 2026, at 9:00 am at the McCarthy Stadium in Makurdi. Players have been strictly instructed to bring valid proof of their contracts and any supporting documents to facilitate a smooth verification process. The management emphasized that punctuality and full cooperation are mandatory for all personnel.

The audit comes at a critical time for the Makurdi-based side, which is currently rebuilding in the Nigeria National League (NNL) after narrowly missing promotion to the top flight. Chairman Ikya previously criticized the "charity-like" management style of past administrations, which led to an over-bloated squad of 67 players. The committee will explore the possibility of mutual contract terminations to reduce the wage bill and streamline the roster to a more manageable size of 35 players.

Beyond internal restructuring, the club faces external pressure from the Nigeria Football Federation (NFF) regarding unpaid entitlements. Recent rulings by the Players’ Status and Arbitration Committee have ordered the club to pay millions in severance fees or face potential transfer bans. By conducting this internal audit, Lobi Stars aim to resolve these lingering financial liabilities and establish a more professional framework for the 2026/2027 season.

The management remains optimistic that these reforms will restore investor confidence and stabilize the team's operations. While the immediate focus is on financial discipline, the ultimate goal remains a return to the Nigeria Premier Football League (NPFL). The results of this week's verification exercise will determine the future of many players currently on the club's books.

Lobi Stars Establish Committee to Audit Player Contracts Amid N200m Debt Crisis

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