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
GTCO Launches “Take on Squad” Hackathon 3.0, Opens Call for Applications
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has announced the launch of “Take on Squad” Hackathon 3.0, reaffirming its commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
Now in its third edition, the Hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors including financial services, healthcare, commerce and digital inclusion. Under the theme “Smart Systems: The Intelligent Economy,” participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
Applications are now open, and interested teams can find full guidelines and registration details on the official portal at https://squadco.com/hackathon.
Speaking on the initiative, Eduophon Japhet, Managing Director of HabariPay, stated: “Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve. Through “Take on Squad” Hackathon, we are deliberately investing in the ideas and talent that will define the future. Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact. This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress.”
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
About HabariPay
HabariPay Ltd is the fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), one of the largest financial services institutions in Africa with direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom.
Licensed by the Central Bank of Nigeria (CBN), our goal is to support SMEs, micro merchants, large corporations and other fintechs (Tech Stars) with the tools they need to thrive in an evolving digital economy and expand beyond their current market reach. HabariPay’s solutions include Squad, a full-scale digital payments toolkit to make in-person and online payments simpler, HabariPay Storefront, an e-commerce website to facilitate online purchases, Value-Added Services to help merchants access cost-effective and flexible airtime and data bundles to run their businesses, as well as a switching infrastructure that enables tech-focused businesses to optimise cost and make transactions more efficient.
HabariPay’s contributions to Accelerating Digital Acceptance in Africa have not gone unnoticed–it received Mastercard’s Innovative Mobile Payment Solution Award at TIA 2022 for its innovative payment solution, SquadPOS.
About Squad
Squad is a complete digital payments solution that is reliable, secure, and affordable, making receiving in-person and online payments simpler and convenient.
Thousands of merchants currently leverage Squad’s payment solutions for their daily business operations. Squad’s current products and service offerings include SquadPOS, Squad Payment Links, Squad Virtual Accounts, USSD, and E-Commerce Storefront.
Find out more at www.squadco.com.
Electric 8-Seater Tula Moto Keke Enters Nigerian Market, Targets Higher Operator Earnings
LAGOS — A new electric-powered tricycle with an expanded passenger capacity has been introduced into Nigeria’s urban transport sector, offering operators a potentially more profitable and eco-friendly alternative to conventional petrol-driven “keke.”
The newly launched 8-seater electric tricycle, now available in Lagos with plans for nationwide distribution, features a dual-row seating arrangement capable of accommodating up to eight passengers per trip—significantly higher than the standard three-passenger configuration common across the country.
Promoters of the innovation say the increased capacity is designed to boost daily earnings for operators, particularly amid persistent fluctuations in fuel prices. By running entirely on electric power, the vehicle eliminates dependence on petrol, reducing operating costs and shielding drivers from fuel price volatility.
According to the distributors, the tricycle is equipped with a durable battery system capable of covering extended distances on a single charge, making it suitable for commercial operations across high-traffic routes, residential estates, campuses, and marketplaces.
“The concept is straightforward—enable drivers to earn more while spending less,” a company representative stated. “With higher passenger capacity and zero fuel requirements, operators can maximise each trip without the burden of daily fuel expenses.”
Beyond its cost-saving potential, the electric keke is also said to require less maintenance than traditional models, offering additional long-term savings. Its quieter and smoother operation is expected to enhance passenger comfort and overall commuting experience.
Industry analysts note that the introduction of electric mobility solutions reflects a growing shift toward cleaner and more sustainable transportation alternatives in Nigeria, particularly in densely populated urban centres such as Lagos.
The distributors added that the product is currently available under a limited promotional offer, with delivery options across the country.
For inquiries and purchase: 📞 08153432071
📞 08035889103
Office Address:
📍 Plot 9, Block 113, Beulah Plaza,
Lekki–Epe Expressway,
Lekki Phase 1, Lagos
As transportation costs continue to rise and environmental concerns gain prominence, innovations like the electric 8-seater keke may signal an emerging transition toward more efficient and sustainable mobility solutions nationwide.
Business
A Pipeline, a Licence, and a Storm Brewing: Corruption allegations Draw global oil giant, Shell, Into Nigeria’s Reform Test
*A Pipeline, a Licence, and a Storm Brewing: Corruption allegations Draw global oil giant, Shell, Into Nigeria’s Reform Test*
By Deji Johnson and Mustapha Bello
t begins with a pipeline that should have been completed by June 2026. It widens into a regulatory dispute. And it now risks becoming a defining test of Nigeria’s gas reforms under President Bola Ahmed Tinubu.
At the center is a stalled 80 kilometre gas pipeline from Sagamu to Ibadan, a project backed by over 100 million dollars in investment and built on a protected Gas Distribution Licence issued under the Petroleum Industry Act 2021. The licence granted NGML–NIPCO exclusive rights to distribute gas within Ibadan for 25years based on Nigeria’s Petroleum Industry Act.
On paper, the law is clear. On the ground, the situation is anything but.
For more than three months, construction has been halted following a stop work order issued by the Oyo State Government led by former Shell Contractor and engineer, Governor Seyi Makinde. No detailed public justification has been provided that aligns with existing federal approvals already secured for the project.
What might have remained a quiet regulatory disagreement has now escalated into something far more politically charged. How?
In recent remarks, Nigeria’s Minister of the Federal Capital Territory, Nyesom Wike, who is of the same political party as Governor Seyi Makinde, made a pointed allegation that has since rippled across political and industry circles. He suggested that the Governor of Oyo State and Shell were in what could be described as an “unholy alliance.”
It is a serious claim. One that, if substantiated, would raise profound questions about the intersection of corporate influence, state level action, and federal law.
Neither Shell nor the Oyo State Government has publicly responded in detail to the allegation.
But the silence is now part of the story.
*THE SHELL QUESTION*
For Shell, this moment carries particular weight.
The company has operated in Nigeria for decades, building one of its most significant global portfolios in the Niger Delta. But that history is not without controversy. From corruption claims to environmental damage claims and community disputes amongst others, Shell has faced years of litigation and, in several high profile cases, adverse rulings tied to its operations in the region.
Those cases, many adjudicated in foreign courts, have shaped a negative reputation that continues to follow the company.
Now, a new question emerges.
Is Shell once again operating at the edge of Nigeria’s regulatory framework seeking to exert undue influence in circumventing Nigeria’s petroleum laws, or firmly within it?
Industry sources including a widely reported meeting between their representatives, Oyo State Government representatives and the newly appointed midstream and downstream chief executive, indicate that engagements involving Shell and the Nigerian Midstream and Downstream Petroleum Regulatory Authority could enable the company to enter a gas distribution zone already licensed to another operator in breach of the PIA.
If true, the implications are immediate and far reaching.
A licence meant to protect investors and investments in Nigeria’s gas space ceases to be exclusive against the dictates of the guiding laws. A framework begins to look flexible, and a reform risks appearing reversible.
To many, it seems more than just a commercial dispute and is not just about one company versus another.
Nigeria is in the middle of an energy transition where gas is expected to play a central role in powering industries, stabilising electricity supply, and reducing reliance on expensive diesel. President Bola Tinubu has emerged as a global champion of using gas as a transition fuel in Nigeria and Africa whilst rolling out elaborate but clearly defined plans to achieve it. Yet gas availability remains inconsistent, constraining power generation and limiting industrial output.
Projects like the Sagamu to Ibadan pipeline are designed to close that gap. To halt such a project is to delay not just infrastructure, but impact. To undermine its legal basis is to question the system that enabled it and to introduce competing claims within the same licensed zone is to risk regulatory confusion at a time when clarity is most needed.
This is where the issue moves from commercial to national because at stake is not only an investment, but the credibility of the reform architecture itself.
*OYO STATE AND THE FEDERAL QUESTION*
The role of the Oyo State Government adds another layer of complexity.
Energy regulation in Nigeria, particularly in the gas sector, is governed by federal law. Yet implementation often intersects with state authority, creating spaces where jurisdiction can blur.
The stop work order issued on the pipeline has become the clearest manifestation of that tension. Was it a regulatory necessity?
A precautionary measure? Or, as alleged by Minister Wike, part of a broader alignment with external interests? Without transparency, speculation fills the vacuum and the regulator must avoid finding itself mired in such allegations.
*QUESTIONS THAT WILL NOT GO AWAY*
For Shell, the questions are now direct and unavoidable:
Is Shell, a global energy giant, seeking to operate within the Ibadan gas distribution zone already licensed to NGML–NIPCO?
What assurances, if any, has it received from regulators or state actors?
How does it reconcile such actions with the exclusivity provisions of the PIA?
For the regulator, NMDPRA:
Can a Gas Distribution Licence be effectively shared, diluted, or overridden after issuance? According to Nigerian laws, the answer is No.
What precedent does this set for Nigeria’s gas infrastructure market?
For the Oyo State Government:
On what legal grounds does the stop work order stand, given federal approvals already in place?
And how does this action align with national energy priorities or the state’s gas needs?
Nigeria has spent the last two years telling a new story to the world. A story of reform, of discipline, of a country ready to compete for global capital. And it has worked so far with stability returning to Nigeria’s economy and over $20bn of energy investments looking to enter the country in the short to midterm.
But reforms are not tested in policy papers. They are tested in moments like this.
Moments where law meets influence, investment meets interference and promise meets pressure.
For Shell, long mired in issues surrounding ethical operations in Nigeria, this is more than a business decision. It is a reputational crossroads.
For Nigeria, it is something even larger. Whether the country’s laws will hold when they are most challenged or Whether its reforms will stand when they are most inconvenient or even whether Nigeria’s energy investments future will be shaped by the rules of law, adherence to regulatory protections and provisions or by unethical and corrupt relationships.
Until those questions are answered clearly, publicly, and decisively, the pipeline in Ibadan will remain more than steel in the ground.
It will remain a symbol of a country still deciding which path it truly intends to follow. Nigeria must act quickly and decisively because the world is watching.
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