City Round learnt that Adeoye and Olawunmi, who was learning how to make cans, had an issue over an umbrella and a sum of N200, which resulted in the tragedy.
It was gathered that a man had brought the umbrella to Olawunmi about two weeks ago for repairs.
The deceased was said to have taken it to Adeoye, who worked with his father at a nearby welding workshop.
Punch correspondent gathered that Adeoye collected N200 to repair the umbrella and promised to fix it the following day.
Adeoye was said to have failed to repair the umbrella while the owner kept disturbing Olawunmi.
He reportedly met with Adeoye around 7pm on Tuesday, asking him to return the umbrella and the money immediately.
City Round gathered that Adeoye got enraged and put up a fight with Olawunmi during which he allegedly hit the deceased with a voodoo ring.
Olawunmi was confirmed dead on arrival at a private hospital in the community while Adeoye was arrested by a police team from the Agbado Police Station led by the Divisional Police Officer, CSP Sunday Omonijo.