A growing name in Nigeria’s lifestyle and business space, DUNKIT Limited,has announced the official termination of its Joint Venture and Partnership Agreement with Mr. Scott Igbene.

The termination, which took effect on June 17, 2025, follows what the company described as a “comprehensive internal review” aimed at reinforcing its long-term strategic direction and operational integrity.

The original agreement between both parties was executed on May 7, 2025, and included a clause mandating unanimous written consent for any early termination not resulting from a material breach or insolvency. In line with this, a formal termination agreement was signed by both parties and witnessed by Mr. Tolu Badejo.

In a statement released on Friday, DUNKIT Limited said it entered the partnership in good faith, with expectations of mutual value and ethical collaboration. However, the company disclosed that as the venture progressed, significant differences in strategy and operational approach began to surface.

“By mutual consent, both parties have exercised their right to end the partnership, and all contractual obligations have been duly fulfilled,” the statement read.

A spokesperson for DUNKIT Limited noted that the decision was driven by the company’s commitment to aligning with ventures that resonate with its values and innovation goals.

This decision reflects our proactive approach to corporate governance and our unwavering focus on aligning with ventures — along with resources — that truly resonate with our core values, innovations agenda, and strategic roadmap,” the spokesperson said.

DUNKIT Limited reiterated its focus on transparency, accountability, and excellence, assuring stakeholders of its commitment to channeling resources into more synergistic and purpose-driven opportunities.

Efforts to reach Mr. Scott Igbene for comment were unsuccessful as of press time.