Zenolynk Technology Ltd., the former technology provider for Lagos State’s LagRide ride-hailing platform, has claimed that the state government abruptly terminated their five-year contract. This disclosure provides context for CIG Motors’ recent assumption of LagRide’s operational management.
“We officially exited the scheme on March 10, 2025, after a termination notice was served to us. It came earlier than expected, as the agreed tenure was for five years, automatically renewable for another five. Still, we believe a change in the state’s strategic thrust necessitated this decision,” Zenolynk said in a statement yesterday.
Per LinkedIn, the company’s CEO, Tumi Adeyemi, served as a technical consultant for four years and seven months, suggesting a potentially contentious departure. A subsequent week-long service disruption indicated a possible dispute over source code access.
Following the termination, CIG Motors launched a new app, which drivers criticized for low fees, poor functionality, and restrictive payment policies.
Despite the abrupt termination, Zenolynk characterized its 1,084-day partnership with the Lagos State government as successful. The company reported processing over 7.2 million ride requests, fulfilling 1.2 million, and facilitating 24 million kilometers of travel. The low fulfillment rate was attributed to limited vehicle availability. The scheme ran on 1000 cars via the asset financing model.
Zenolynk also claimed to have generated over ₦7 billion ($4.5 million) in revenue, with ₦2 billion ($1.28 million) paid out to drivers. The company attributed its rapid rise to the number three position in the Lagos ride-hailing market to its innovative solutions and collaboration with Ibile Holdings Ltd.
“A combination of these innovations, along with a relentless team of engineers, relationship officers, and the dedicated people from Ibile Holdings Ltd, ensured we landed the No. 3 spot in the ride-hailing market in less than one year. But, as it is said, every beginning must have an end.”
