Ligz is a derivation of the word Nigz. The strong "L" mispronounciation is due to individuals who seem to be endowed with a strong asian accent. Example of this would be:
Fried Rice --> Fly Lice
So therefore, Nigz --> Ligz
Misspelling of the popular Lugz shoe brand with an I instead of U.
McLigz: I wanting to lap to some fittycent..u know what i say?
BoLigz: U wanting what? U so ligz my flend!
McLigz: I wanting go buying at mall a pair of Ligz.
Salesperson: WTF? You mean you want to purchase a pair of Lugz?