The League Management Company have given Ikorodu United until 5pm on Friday, August 19 to appeal the verdict.
Organisers of the league, LMC on Thursday, August 18, announced that Ikorodu United FC have been fined the sum and also banished from their home ground of Onikan Stadium as a result of crowd troubles.
Crowd troubles marred Ikorodu United’s matchday 30 fixture against Shooting Stars Sports Club of Ibadan at the Onikan Stadium.
With the score still at 1-1, the game was called off in the 89th minute after the home fans started throwing objects on the pitch.
The fans were protesting Ajani Ibrahim’s equalising goal for Shooting Stars.
The game has been counted as a complete fixture by the LMC.
Following the home ban, 'The Oga Boys' will now play their next three league home games at the MKO Abiola Stadium in Abeokuta.
This weekend’s matchday 32 fixture against Niger Tornadoes will hold at their new ground while the last two games will be suspended subject to good conduct for the remainder of the season.
The LMC have given Ikorodu United until 5pm on Friday, August 19 to appeal the verdict.