MWUN Cooperative transitions to new leadership as Ajayi concludes transformative tenure

The Maritime Workers’ Union of Nigeria (MWUN) has elected a new executive committee to steer the affairs of its Cooperative Multipurpose Society, following a successful Annual General Meeting (AGM) held on February 13, 2026, at the union’s secretariat on Osho Drive.

The AGM marked the end of the tenure of the pioneer President of the Cooperative, Comrade Ayokunle Ajayi, who delivered a valedictory address reflecting on the society’s journey from modest beginnings to a stable financial institution providing welfare support to members.

In his address, Ajayi, who currently serves as Deputy Secretary-General (Organizing & Operations) of the union, expressed gratitude to the leadership of MWUN for entrusting him and his team with members’ funds during their years in office.

He described the responsibility as a profound show of confidence and pledged that his administration managed the cooperative’s finances with diligence, prudence, and transparency.

He noted that when his executive assumed office in 2019, the cooperative had no clear structure or operational foundation and operated with limited technical expertise. According to him, the team had to build the institution from the ground up. Today, he said, the cooperative stands as a more structured and accountable financial platform dedicated to members’ welfare.

In a e-signed release by comrade John Kennedy Ikemefuna head of Media MWUN, Ajayi reaffirmed that the core mandate of the cooperative remains the provision of accessible loans to members at modest interest rates to promote financial stability and improve living standards, despite limited manpower and operational capacity.

He maintained that members’ funds are secure, regularly audited, and compliant with statutory requirements, including submissions to the Lagos State Government.

He commended his outgoing executive members for their dedication, resilience, and sincerity of purpose, describing them as committed individuals who placed the genuine interest of members above all else. He also acknowledged the Apapa Cooperative Area Officer and her team for their regulatory guidance, professionalism, and consistent oversight.

The outgoing president further praised the President-General of MWUN, Comrade Francis Bunu Abi, for ensuring prompt remittance of cooperative deductions, a development he said strengthened financial stability and enhanced members’ confidence in the society.

Ajayi equally paid tribute to the immediate past President-General of the union, Comrade Adewale Adeyanju, for initiating the establishment of the Cooperative Multipurpose Society, describing the move as visionary and deeply rooted in concern for members’ welfare.

At the climax of the AGM, new executives were elected to lead the cooperative into its next phase of development. Comrade Micah Iddio emerged as President, while Wole Adetumi was elected Vice President.

Other members of the new executive include Serifat Ogbeide as Treasurer, Ade Ayo Rasheed as Secretary, Ruben Erujaro as Assistant Secretary, Grace Olatunji as Ex-Officio, and Ayokunle Ajayi as Ex-Officio.

The new leadership is expected to consolidate on existing gains, strengthen financial inclusion among members, and expand the cooperative’s capacity to deliver welfare-driven financial services to maritime workers.

The AGM concluded with a renewed commitment by members to uphold transparency, accountability, and collective progress within the union’s cooperative framework.