Board of Directors

We recognize that talented people give organizations a competitive advantage in today's business environment.

We have taken time to identify and include quality individuals into the company’s operations, from the Board to Management.

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Oritsedere Samuel Otubu

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BSc. MSc. Accounting & Finance (Houston Baptist University USA)
Chairman, Board of Directors



Mr. Oritsedere Samuel Otubu is the Chairman of STACO Insurance Plc, a Non-Executive Director in Access Bank Plc, a Director in Eko Electricity Distribution Plc and Food Emporium International, and also the Founding Chairman of Senforce Insurance Brokers Ltd.

Mr Otubu holds a Masters and Bachelor's degree in Finance and Accounting respectively from the Houston Baptist University, United States of America. He has over 25 years of entrepreneurship, top level management and project design/planning, implementation and management experience locally and internationally.

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Bayo Fakorede

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HND Insurance (The Polytechnic Ibadan), ACII, MMP, MNIM, AMP
Executive Director - Operations



Bayo Fakorede started his insurance career with Nigeria Reinsurance Corporation in 1983 as Assistant Superintendent and left in 1989 as Senior Superintendent to join Kapital Merchant Bank Limited as Insurance Manager.

He left the Kapital Group in 1992 to join Colenson Brokers Nigeria Limited as Assistant General Manager (Technical), a position he held until February 1994 when he joined Elmac Insurance Limited.
He joined STACO Insurance Plc in February 1997 as pioneer Branch Controller. He was later promoted AGM (Marketing). He is currently Executive Director - Operations.

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Prince Samuel Adewole Turoti

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BSc. (Hons) Accounting; FCA, ACITN
Chairman, Board of Directors



In the past two (2) decades, Samuel has gathered a wide range of assurance, audit, forensics, tax, consulting and financial expertise at senior management and board level positions, and across diverse industries ranging from Professional Services, Insurance, Banking, Manufacturing and Multinationals Companies. He was at various times an Audit Senior and Manager with the firms of Olawale Coker and Co (Chartered Accountants) and Akintola Williams Deloitte.

He was also at different times, head of audit, forensic investigations, finance, investments and accounting with SGS Inspections Services Nigeria Limited (A Multinational), Churchgate Industries (Nigeria) Limited and Cashlink Finance and Investments. He was the General Manager, Finance and Administration of Equity Assurance Plc before He joined Polak Group in 2010 as Group Managing Director/CEO. He is currently the Chairman of Imperial Asset Managers Limited, and a Director of CFS Financial Services Limited before his nomination and appointment as Chairman of Staco Insurance Plc.

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Talabi Omotola K.

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B.A Economics (Rutgers University), MSc. Mgt Info System (Carnegie Mellon University, Pittsburgh),
MBA Finance & Entrepreneurship (Stern School Of Business, New York)
Director



Mr. Talabi a finance Management executive with extensive experience in business operation management, organizational development especially in the Oil & Gas Sector industry.

He has worked as a marketing and strategy consultant with major corporations such as Sapient Corporation , Credit Suisse in New York.

He is presently the Managing Director of Electron Energy and he acts as consultant to Vitol SA, Geneva, Switzerland on Oil & Gas.

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Emore Helen Ese

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B.A, M.A Public & International Affairs (University of Lagos, Nigeria);
M.A Business Management (University of Northumbria Newcastle)
Director



Ms Emore has over 20years post-graduation experience that spans across strategic planning, business development, marketing communications-, image and political management.

An experienced strategy and marketing consultant with demonstrated track record driving growth, reducing costs and improving operations of businesses and Non-Governmental Organisations. Able to develop, manage and execute organisational strategies for improved performance and business development plan.

She is presently the senior consultant at Vant Garde Project Limited.

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Jide Omotere

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M.Sc. Finance (Lagos State University) FCA, MBA, ACITN
Chief Finance Officer



Mr. Jide Omotere holds a Higher National Diploma in Accountancy from Ondo State Polytechnic Owo in 1989, a Master’s degree in Business Administration from University of Ado-Ekiti in 2001 and a Master of Science (Finance) from Lagos State University in 2004. He is a Fellow of the Institute of Chartered Accountants of Nigeria, an Associate Member of the Chartered Institute of Taxation of Nigeria and an alumnus of Lagos Business School, now Pan Africa University.

Mr. Omotere started his career in professional practice with Anthony Chikwendu Chartered Accountants between 1989 – 1990; worked with Omni Investments Ltd from 1991 – 1992; Trident Finance & Securities ltd 1992 – 1995; Regency Assurance Plc as head of Finance & Accounts between 1995 – 2002; Royal Trust Assurance Ltd as Head, Finance & Corporate Services until he joined Crusader Insurance Plc (which later merged with Custodian and Allied Insurance Plc) in 2007 as Group Head of Enterprise Management.

He resigned in October 2013 from Custodian and Allied Insurance into Professional practice between 2014 and 2018 before joining STACO Insurance Plc in September 2018 as the Chief Finance Officer (CFO).

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Sidi-Aliyu Muhammad

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BSc, M.A Aeronautical Science (Embry- Riddle Aeronautical University)
Director



Mr Mohammed is widely travelled and imbued with a conscientious culture that places a premium on tolerance, respect for facts, logic and an indomitable spirit for identifying problems and proffering solutions to them.

He has a knack for figures with well-developed analytical skills. He has over the years worked on various developmental contracts and projects across all government parastatals.

He is currently an entrepreneur in the FMCG industry with over 15years experience.

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Alimson Olusegun Ganiy

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BSc (Hons) Busimess Adminsitration, M.Sc Marketing Management (University of Lagos); AMIN
Director



Mr Alimson is a trained and qualified Administrator and Marketer with several years of experience in General Administration. He has over 10years working experience in the banking industry with vast knowledge in Forex and Regulatory controls.

He is currently an entrepreneur with interest in Real Estate businesses.

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Babatunde Okoturo

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BSc. (University of Buckingham); MBA (City University Business School London) Fellow Chartered Institute of Stock Brokers of Nigeria
Director



Okoturo has worked in several Financial institutions including Bank of Credit and Commerce International Nigeria Limited, Centre-Point Investments Limited and Shiroro Finance Limited.

He is presently Executive Director of Alfred George Nigeria Limited (Venture Capitalist/Consultancy Services) and is on the Board of several notable organizations including Food Emporium Int'l Limited (operators of Barcelo's Brand in Nigeria), Oceandrive Foods Limited, AG Foods Nigeria Limited, Sastog Investments Limited and Associated Franchise Holding Limited.

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Pius Olarewaju

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BA; MBA( Marketing); FNIM
Director



He is the Chairman of Polak Group of Companies.
He is a Fellow of the National Institute of Marketing of Nigeria, National Institute of Sales Management and Certified Board of Administrators among others.

He is a registered member of both the Chartered Insurance Institute of London and Nigeria. He started his insurance career in 1983 with Leadway Assurance Company Limited from where he joined the management team of Equity Indemnity Insurance Company Limited in February 1994 and retired as Managing Director in January, 2010.

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Ndubuisi Emmanuel Chiejina

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LLB. BL (University of Lagos Nigeria); MSc. (Cranfield)
Director



Mr. Emmanuel Chiejina is the Chairman of AshBard Energy Company Limited and currently serves on the board of Access Bank Plc, Staco Insurance Plc, F & C Group and Green Technologies Limited. He spent an active part of his career with ELF Petroleum Nigeria Limited (Total E & P) where he spent twenty-seven years and retired as Deputy Managing Director in 2007.

Mr. Emmanuel Chiejina is a graduate of Law from the University of Lagos (1975). He was variously educated at Cranfield Institute of Technology, European Institute of Business Administration (NSEAD), University of London and London Business School.

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Ogan Gogo Idaere

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BSc. (University of Port Harcourt); MBA-International Finance (Middlesex University London)
Director



He commenced his professional career with Johnson and Johnson Consulting London between 1989 and 1991, before joining Guaranty Trust Bank Plc. He left GT Plc in 1998 to start D'Group Incorporating Calvary Airlines Limited, Becca Petroleum & Gas Nigeria Limited and Cordero Engineering Services Limited.

He is a highly imaginative and strategic thinker, hardworking, honest, dependable, self motivated and extremely resourceful business tycoon with excellent communication skills.
He has over the years developed a tremendous ability of setting up business ventures and running them successfully.

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Love Okeoghene Ojakovo

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BA. (University of Ife Nigeria); MSc. Sociology (University of Ontario Canada); MNIM
Director



Love Ojakovo was a Deputy General Manager in the former Allied Bank of Nigeria Plc.
He is also the Chairman/CEO of Lovan (West Africa) Limited and Lovan Associates Limited.

He was Honorable Commissioner for Housing in Delta State Nigeria between 2003 and 2005.

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Sakiru Olanipekun Oyefeso

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HND-Insurance with Distinction (Lagos State Polytechnic); FCII; MBA
Managing Director/Chief Executive



He commenced his professional insurance career in 1978 with NICON Insurance Plc and subsequently worked with Rivbank Insurance Company Limited, Prudential Union Assurance Limited and Leadway Assurance Company Limited before joining Financial Assurance Company Limited as AGM (Operations) in 1992.

He demonstrated zeal and hard work by combining busy office schedule with academic pursuit and completed the fellowship examinations of the Chartered Insurance Institute of London in 1992 .
He left Financial Assurance in August 1994 as Deputy General Manager (Operations) to join STACO Insurance Plc as pioneer Managing Director/Chief Executive.

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Tayo Ajubulu

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BL LLB (University of Lagos); PGD; MBA Marketing (University of Nigeria Nsukka)
Executive Director



Tayo Ajibulu is in charge of Management Services and also oversees the Corporate Marketing activities of STACO Insurance Plc. He is Alumnus of Lagos Business School and Ashbridge Management School, United Kingdom.

He has over 28 years commercial law practice and started his career with Tunde Bakare & Co (Legal Practitioners) as Deputy Head of Chambers and later Segun Abiodun & Co., then Tripod Holdings Ltd (a holding company with huge investments in Rims Merchant Bank Ltd, Rims Ltd, Rims Trustees Ltd, Lighthouse Investments Ltd and Cornerstone Insurance Plc) as Group Company Secretary and Legal Adviser.

He was a foundation staff of Cornerstone Insurance Plc as Company Secretary/Legal Adviser where at various times he was in charge of the Company’s Secretariat, Legal Department, Corporate Affairs Administration and Human Resources before Heading the Core Clients Group and later the Group Head of Business channel Management overseeing the activities of alternative market.

He was at various times the Honorary Secretary and Vice Chairman of Ikoyi Club 1933.

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Bola Ogundijo

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BSc Banking & Finance (Ogun State University); MBA (LAUTECH); ACII
Deputy Director



Bola started his insurance career with Ban-Doy Brokers Company (now Three Ds Insurance Brokers} in 1985, and later joined Merchant Alliance Insurance Brokers Limited (now Cornerstone Insurance Plc) in 1991. He rose to the position of Senior Manager in the company.

He was instrumental in setting up Kaduna and Ibadan Branch Offices of Cornerstone insurance and upholding the Lagos Brokers Market until July 2005 when he joined Mutual Benefits Assurance as Assistant General Manager Corporate Marketing.
He joined STACO Insurance Plc as Assistant Director Brokers Management in April 2007.

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Olatunji Aminu

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HND, MBA, FCII
Assistant Director



He is a graduate of Lagos State College of Science and Technology (now Lagos State Polytechnic).

He commenced his insurance career with Law Union & Rock Insurance Plc as a graduate trainee and rose to the position of Manager in 1989.
He left in 1996 to join Unitrust Insurance Company Limited as Senior Manager (Technical) He left Unitrust in March 2000 to join Amicable Assurance Plc as Assistant General Manager (Technical), a position he held until January 2001 when he joined Standard Trust Assurance Plc (now STACO Insurance Plc).

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Lanre Oyaleye

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PGD. MBA; ACII
Assistant Director



Mr. Oyaleye qualified as an Associate Member of the Chartered Insurance Institute of Nigeria in 1996 and is also a holder of a Postgraduate Diploma in Management from University of Uyo. He has 25 years experience in the Insurance Industry.

He joined Standard Trust Assurance Plc (now STACO Insurance Plc) in 1996.

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Hamza Razaq Ajibola

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PGD, MBA, ACII, ACIIN
Assistant Director



He is a graduate of University of Ilorin in Administrative Management, and also holds MBA from University of Ado-Ekiti.
He is an Associate of the Chartered Insurance Institute of London and the Chartered Insurance Institute of Nigeria.

Before joining STACO Insurance Plc, he had worked with Sun Insurance Plc, Lombard Insurance Company Ltd. and Summit Insurance Company Ltd., all at management levels.
He has also attended several courses in insurance locally and abroad.

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Tunji Nosiru

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PGD, MBA, ACII
Assistant Director - Chief Risk Officer



Tunji Nosiru is a member of the Chartered Insurance Institute London and has working experience spanning over two decades.

He has worked with various insurance organizations including NEM Insurance Plc, A & G Insurance Limited and LAMDA Insurance Limited before joining the marketing force of Standard Assurance Plc (now STACO Insurance Plc) in 2000.

He is the company's Chief Risk Officer.

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Shogo Majeed Ajibade

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B.Sc (Hons)(Economics) (Ahmadu Bello University);
M.Sc Business Admin.(University Of Lagos).
Assistant Director (Marketing) Victoria Island Branch



Mr. Shogo's experience spanned from the banking industry where he was an administrative officer with Merchant Bank Of Africa.

He started his career in insurance with IGI as the Head Maintenance & Strategic Marketing . A position he held for 6years.

He was promoted to the post of the Operations Manager (Northern Axis) in 2002.

This position he held till he joined Staco Insurance Plc as Assistant General Manager in 2009. He has risen to become an Assistant Director.

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Adetayo Ade

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HND, MBA (Lagos State University), ACIIN
Assistant Director



Mr. Adetayo has over 20 years experience in the insurance industry which includes Yinka Omilani & Associate where he worked as a Marine Surveyor & Loss Adjuster for over fourteen years.
He has attended several courses both locally and overseas and has developed competences in Oil & Energy as well as other classes of insurance including general accident, fire & engineering and marine insurance.
Mr. Adetayo joined Staco Insurance Plc in 2005 as the Controller Technical and has risen to the post of Assistant Director.

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Jaiye Fatungase

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HND, MBA, FCA
Assistant Director



Jaiye Fatungase is a fellow of the Institute of Chartered Accountants of Nigeria. He is an alumni of both Lagos State College of Science and Technology (Now Lagos State Polytechnic) and the University of Calabar.

He trained at Egunjobi Sulaiman & Co (Chartered Accountants) and has worked in the FMCG and Glass Container Industries in Nigeria. He joined Staco Insurance Plc in 2005 and rose through the rank to become an Assitant Director.

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Yetunde Dawodu

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HND, MBA, ACII
Assistant General Manager



A Chartered Insurance practitioner with over 10 year's cognate post qualification experience, she joined STACO in 1999 as a superintendent and rose through the ranks to the position of AGM, Technical.

Yetunde Dawodu is alumni of The Polytechnic, Ibadan and Ladoke Akintola University of Technology (LAUTECH) where she obtained HND Insurance and MBA Marketing Management respectively.

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Serifat Adahunse

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HND, ACII
Assistant General Manager



Adahunse Serifat is an Associate of the Chartered Insurance Institute of Nigeria (ACIIN).

She has worked with Glanvill Enthoven & CO. and City Union Insurance Company before joining the Technical Department of Staco Insurance Plc in 1999.

As an Assistant General Manager, she currently oversees the Re-insurance unit of the company.

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Wunmi Lawal

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HND, MBA, ACII
Assistant General Manager (Division 2)



Wunmi Lawal is an Associate of the Chartered Insurance Institute of Nigeria (ACIIN), with over 13 year's cognate post qualification experience. She joined STACO in 2001 as a Senior Superintendent and rose through the ranks to the position of Assistant General Manager.

Wunmi is alumni of Lagos State Polytechnic, Ikorodu, Lagos and Lagos State University, Ojo, Lagos, where she obtained HND Insurance and MBA Human Resources respectively.

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FAMAKINWA, ALUKO TAIWO

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FCA, FCTI, MBA
Assistant General Manager - Head, Internal Audit



Mr Famakinwa Aluko Taiwo is a Fellow of the Institute of Chartered Accountant of Nigeria. Fellow, Chartered Institute of Taxation of Nigeria, Registered Member, Financial Reporting Council of Nigeria and an Associate member, Nigeria Institute of Management. He is a graduate of Business Administration from Kwara State Polytechnic, Ilorin. He completed his MBA (Marketing) from Lagos State University in 2005.

Mr. Famakinwa started his working career with National Orthopaedic Hospital in 1990 where he joined Standard Trust Assurance Company in 1996. He also worked with TPT International Ltd, a Media and Public Relation Company as Head of Finance and Administration before joining LAGBUS Asset Management as Head of Accounts in 2008. He later moved to Backlink Technology Solutions Limited, a subsidiary of Oceanic Bank International Plc as Financial Controller before joining Staco Insurance Plc in 2010.

Mr. Famakinwa has acquired well over 20 years of working experience in several areas, which include but not limited to Hospitality, Insurance, taxation, finance, auditing, accounting, and general administration.

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Ahmed Tiamiyu

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B.ED (MANAGEMENT); MBA (MARKETING); ACIIN
AGM (Chief Compliance Officer)



Ahmed Tiamiyu is an astute Insurance Practitioner. He started his Insurance career in Nigerian-French Insurance Company Limited and later moved to Great Nigeria Insurance Company Plc from where he resigned as Head of General Business Operations in 2004.

He traveled abroad and worked with Marcus Evans in the International Marketing Division, Johannesburg, South Africa and for his interest in Insurance Industry, he returned to the country; joined Equity Assurance Plc in July 2005 from where he moved to Staco Insurance Plc in January 2011 as Assistant General Manager and worked in various departments of the company before his new assignment as the Chief Compliance Officer.

As a graduate of Education, he served as a Graduate Assistance during his NYSC year at Institute Of Education, Obafemi Awolowo University, Ile - Ife and thereafter worked with the department before joining the Insurance industry. He is an Associate of the Chartered Insurance Institute of Nigeria; a registered member of ACCPA (Association of Certified Compliance Professionals in Africa) and International Insurance Society Inc. New York, USA. He has attended various courses both within and outside Nigeria.

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Olawale Banmore

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(B.SC, MSC, ACII, (PhD in view))
Managing Director/CEO



Mr Olawale Banmore is a seasoned Insurance practitioner with about 30 years on the job experience in the Industry.

He is a graduate of Sociology from the University of Ibadan and hold a Master’s Degree in Managerial Psychology from the same institution. Currently, a Doctorate degree student at Babcock University, Ilishan-Remo, Ogun State.

He is an associate member of the Chartered Insurance Institute of Nigeria (ACIIN); a member of the Africa Insurance Organization; a member of the Niger and South Africa Chambers of Commerce and alumni of the Lagos Business School. Also, a member, Institute of Directors as well as Board member, Centre for Development and Research, Federal University of Technology, Akure, Ondo State

He joined Royal Exchange Group in 2003 from UNIC Insurance and acted in various managerial capacities within the Company. He was the Managing Director of Royal Exchange Prudential Life Plc, a subsidiary of Royal Exchange Plc from 2011 to December4. 2019 and rose to the position of Group Managing Director in the same organization where he oversees several subsidiaries within the Group.

Prior to joining STACO, between April 2021 to May, 2022, he was Managing Director, BOS micro Insurance.

He has diverse experience and exposure in Technical services, Branch and Regional Operations, multichannel products and service marketing.

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Oyenike Nihinola

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(B.A, ACITN, MBA)
Executive Director (Technical & Operations)



Nike is a graduate of English from The University of Ibadan. She is an Associate of Chartered Insurance Institute of Nigeria and also holds Masters in Business Administration from The Lagos State University.

Nike is a core Professional with wealth of experience of over 20 years in General Business, Life, Energy and Special Risks, Reinsurance and Claims.

She started her career with ELMAC Assurance co Ltd (now Lasaco Assurance Plc) as pioneer staff and later moved to Acen Ins Plc (now Sovereign Trust Insurance Plc) as part of the team that Re Engineered and repositioned the Company for Profitability In 2008, she joined Consolidated Hallmark Insurance Plc after the Insurance Industry Consolidation. There she set up structure, procedures and processes for excellent service delivery that made the Operations run on autopilot.

She worked also in Great Nigeria Insurance plc as the Chief Technical Officer overseeing both LIFE AND GENERAL DIVISION.

She served diligently as Chairperson of Accident Offices Committee of the Nigeria Insurers Association for years and many innovations were recorded during her tenure.

She is a Tutor, a strong member of Professional Insurance Ladies Association and has shaped the life of younger generation through her mentoring program.

She has attended several courses both locally and international level. She is Happily married with Children.

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Adebowale Ajayi

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Chief Finance Officer



Adebowale is a financial expert who has been in the financial industry for over two decades. He started his career with Leadway Assurance Company Ltd in 1998 in the account department as an accountant.

He left Leadway Assurance in 2008 after putting in over 10 years to become the Chief Financial Officer of Fin Insurance Company Limited (a subsidiary of FinBank Plc then) between January 2009 and September 2010. The lure of higher challenges made him proceed to Royal Exchange Plc in 2010 where he was seconded to the Finance & Asset Management Company in 2010 as Head, Human Capital & Strategic Planning.

He also gained experience at Royal Exchange plc (Holding Company), where he worked as an executive assistant to two Group Managing Directors before being transferred to one of its subsidiaries (Royal Exchange Finance Company Limited as Head of Finance and Strategy between June 2020 and July 2022.

He is an alumnus of Ahmadu Bello University, Zaria, where he holds a Master’s in Business Administration (MBA) with a specialization in management. He is a professional accountant and banker.

He is an associate member (ACA) of the Institute of Chartered Accountants of Nigeria (ICAN 2005) and also an associate member (ACIB 2002) of the Chartered Institute of Bankers of Nigeria (CIBN).

He has undergone many professional trainings, both local and internationally.

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Simon Ejima

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Chief Compliance Officer



Mr. Ejima is a graduate of the University of Uyo with a Bachelor of Science in Economics/Statistics with Second class upper. He holds a Master’s Degree in Economics from the Lagos State University, Lagos and a Distinction in Master’s Degree- Finance/ACIB from Caleb University, Lagos. He is currently pursuing his Doctorate degree (PhD) in Finance with CALEB University.

He is an associate member of the Nigerian Institute of Management (Chartered); Fellow, Certified Risk Manager ISO31000 Risk management system ,Fellow Enterprise Risk Management Professionals (FERP); Associate Member of the Risk Management Association of Nigeria (RIMAN) , Certified chartered Insurance professional(CIIN) , Associate member of chartered institute of bankers(CIBN) as well as an Associate member of the Institute of Certified Economist (ACE).

He has over 20 years’ experience in Banking Operations and Process re-engineering, Audit and Compliance Management, Operational Risk management, Enterprise Risk Management and Internal Controls. He started his banking career with the then Intercontinental Bank in the year 2000, before his final banking career till 2017 with Bank PHB /keystone bank. He joined Royal Exchange Assurance as the Group Head, Enterprise Risk Management in October 2017 in charge of all the subsidiaries; General Insurance Company, Life Insurance Company, Finance and Asset management subsidiary, Health management company and Royal Exchange Micro-Finance Ltd, where he significantly carry out the over-hauling of the credit process and the recovery strategy that significantly improved the Microfinance credit and recovery quality.

Also responsible for the overhauling of Royal exchange claims exposure and overhead costs against leakages.

He is a Risk, Compliance and corporate governance experts/Consultant with Simej Business Solution Limited as a senior partner and currently the Chief Compliance and Risk Officer of STACO Insurance Plc.

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