Business
The many illegal acts of FUNAAB Management exposed + How they plan to extinct the Legislative arm of the Students’ Union
SAVE THE LEGISLATIVE ARM OF FEDERAL UNIVERSITY OF AGRICULTURE, ABEOKUTA STUDENTS’ UNION (FUNAABSU) FROM EXTINCTION
“He that stands for nothing dies for nothing”
Looking back to time and history, executives and the leadership of the Legislative arm of the Union-SRA of this regime, were to attend a leadership Conference organized by the University Management in Ekiti State between 14th and 16th Dec 2015, and the scheduled time for their departure was 13th Dec 2015. Unfortunately, the then Speaker of the SRA, Late Rt. Hon. Adelaja Fisayo died Dec 10 2015. As a result of his death, a meeting was held to postpone the Leadership Retreat as a sign of respect to the dead between the Union executives and the leadership of the Legislative arm of the Union, the President, Nnewonye Dennis (a.k.a. DENCO) insisted to go ahead with the planned trip without recourse to sympathy. This caused a friction between members of his cabinet as a few of them had decided to be in solidarity with the Legislative arm of the Union. This however led to factions between the executives, abrasion to the relationship between the executives, Legislative arm and then hostility between the Management, basically the Dean Students Affairs, Prof. Yemi Akegbejo-Samson and the Legislative arm. A walk in respect of the Late Speaker was orchestrated and led by the Vice President of the Union. This led to the Vice President being ostracized by Nnewonye Dennis and his other executives. The Dean Students Affairs, Prof. Yemi Akegbejo-Samson accused the Vice President and the leadership of the House for leading a just protest stating that they were not “loyal” to the management. He stated this majorly because they had refused to pander to his whims and caprices.
The President, Nnewonye Dennis breached a provision of the constitution according to Article 3, section 30, sub-section II that the Legislative arm of the Union “shall make final approval of all decisions taken by the SSRC as entrenched in the constitution and/or maybe referred to it by the SSRC” when he acted as an obstinate dictator by increasing the annual due without following due process. This draconian act of his created uproar, sending ripples of displeasure among FUNAABites. The breach of the provision of the Union’s constitution was supported by the Management basically the Dean student affairs, Prof. Akegbejo-Samson, an indication that the Management was against the Legislative arm of the Union. It is pertinent to note that Legislative arm had received petitions against the Union President accusing him of a myriad of atrocities. This cumulated in a suspension, giving the Legislative arm to investigate such accusations. The accusations range from; breaching of the Union constitution, and misappropriation of funds realized after an event of the Union, THE FRESHERS’ NIGHT.
In the course of the suspension of the President, the Management, basically the Dean Student Affairs Prof. Yemi Akegbejo-Samson pestered the Legislative arm of the Union and insisted that the President of the Union, Nnewonye Dennis be reinstated, the members of the Legislative arm were threatened with expulsion. The Identity cards of some honorable members of the Legislative arm of the Union were seized and some students who supported the Legislative arm were detained by the police at the order of the Suspended President, Nnewonye Dennis and the Chief Security Officer, Mr. Peter Bolarinwa.
It is a tradition that the Union will provide souvenirs for the students every year. This year, the Legislative arm of the Union approved 1.2 million Naira, at the rate of 120 Naira per souvenir (10,000 copies of books) to the welfare director, Oyelere Motunrayo (Ay welfare). He produced less than the approved quantity at a cost higher than the approved cost without informing the Legislative arm of the Union. What stirred the hornet’s nest was the fact that he produced substandard books and was a far cry from the expectation of FUNAABites.
According to the agenda of their sitting which was pasted on notice boards, the State of the Union was a major burning issue to be discussed at their sitting on 21st July, 2016. I was shocked when I got to the venue of the sitting and discovered that Prof. Yemi Akegbejo-Samson had through the security officials planned to disrupt the sitting. From enquiries, I learnt that the Speaker of the Legislative arm of the Union was in a meeting with the Dean Student Affairs, Prof. Yemi Akegbejo-Samson and the Chief Security Officer, Mr. Peter Bolarinwa in a bid to make sure the sitting will not hold. However, the honorable members of the Legislative arm of the Union had in accordance with the FUNAABSU constitution in article 4, section 37, sub-section I that “in the absence of the SPEAKER and his DEPUTY, any of the members present shall be elected as the presiding officer for the meeting” elected an honorable member of the Legislative arm to preside over the sitting. In the course of the sitting, to our utter bewilderment, a Commander of the security unit of the University had stormed the venue of the sitting with other members of the security official and aimed to seize the MACE. He was however met with stiff resistance. A pandemonium ensued between honorable members of the Legislative arm and the security officials, the commander shouting that the Legislative arm had planned to impeach “their boy” Nnewonye Dennis. They threatened that they shall make sure some of the honorable members are rusticated. They also said that the faces of some honorable members have been noted while others were beaten. If these could be done against people elected into power, worse could be done to we ordinary FUNAABites
It is pitiable that the President of the Union, Nnewonye Dennis has sold the Union to the Management for selfish reasons. It is from impeccable source that he is after getting a job from the Management after graduation. He has rendered himself a vassal of the Management to support tyranny, brutality and injustice perpetrated by the management against fellow FUNAABites. This is an SAVE OUR SOUL(SOS) call to all quarters, we are really being oppressed. Prof. Yemi Akegbejo-Samson who we call the Dean of Student Affairs has shown us that his interest is not in our welfare. He derives a lot of benefits from the Union most especially the President, and as such he is a major player in the decision making processes of the Union.
This is a clarion call to all concerned parastatals, government bodies, NGOs and security personnel to please help unjustifiable reproach on our Union, irresponsible acts of favoritism, nepotism and threats on student leaders and all. We are tired of outside influence, threats and every form of oppression!!! Kindly save our souls!!!!
Thanks
A Concerned FUNAABite
Business
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Bank
Alpha Morgan to Host 19th Economic Review Webinar
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
Business
GTBank Launches Quick Airtime Loan at 2.95%
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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