Executive Management

Babatunde Fajemirokun BA (Hons.), MSc, MBA, ACIIN, FCII

MANAGING DIRECTOR / CHIEF EXECUTIVE OFFICER

Mr. Babatunde Fajemirokun has served as Managing Director and CEO of AIICO Insurance Plc since August 2019. Under his leadership, AIICO — one of Nigeria's largest retail insurers — has delivered consistent double-digit growth across gross written premiums, insurance revenue, profitability, net asset value, and return on equity. His strategic focus on innovation, operational resilience, and customer engagement has reinforced AIICO's market leadership and positioned the company for sustainable long-term performance. Babatunde brings a distinguished professional trajectory spanning over two decades across management consulting, insurance, and asset management. He joined AIICO Insurance Plc's Life Insurance Division in May 2009, where he played a pivotal role in executing the company's inaugural growth strategy, with particular emphasis on business process improvement and technology transformation. Prior to assuming the role of CEO, he held a series of progressively senior positions, including Divisional Head of Operations & Technology (2009–2013) and Group Chief Operating Officer (2013–2019). His career began in academia in 2001 as a Visiting Lecturer in the Department of Economics & Enterprise at Glasgow Caledonian University, Scotland. He subsequently built a strong consulting foundation at Accenture, Lagos (2003–2007) and Capgemini Consulting, UK (2008–2009), where he advised financial services institutions and government clients on mergers and acquisitions and large-scale transformation programmes. Beyond his executive role, Babatunde serves as a Non-Executive Director at Food Concepts Plc (owners of the Chicken Republic brand), where he chairs the Finance & General-Purpose Committee, and as a Non-Executive Director at Xerox Corporation Nigeria (XHS). He is also a Governing Council Member and Honorary Treasurer of the Nigerian Insurers Association (NIA). Babatunde is a Fellow of the Chartered Insurance Institute, UK (FCII) and a Chartered Insurer. He holds an MBA from the University of Chicago Booth School of Business, a Master's degree in Business Information Technology Strategy (with Distinction) from the University of Strathclyde, and a Bachelor's degree in Business Economics from Glasgow Caledonian University, UK.

Adewale Kadri

EXECUTIVE DIRECTOR, TECHNICAL

Adewale Kadri is the Executive Director- Technical of AIICO Insurance Plc. He is a versatile Insurance practitioner and a seasoned salesperson. He began his Insurance career with Worldwide Insurance Company Limited in 1994 as a Life Marketer and later moved to ELMAC Assurance Nigeria Limited in 1997 where he joined the Team that was saddled with the responsibility of Marketing the Company’s various special packaged products. He also worked as an Insurance Officer of Modandola Group of Companies where he was exposed to the rudiment of Insurance broking and technical operations. He later joined the Marketing team of Newline Insurance Company Limited and Sun Insurance Plc. where he worked in various managerial capacities before joining the pioneer team of UBA Insurance in 2004 as Group Head, Brokers’ Management Division. While at UBA Insurance, he served in various committees which ensured the successful take-off of the first Banc Assurance Business Model in Nigeria. He had a brief stay at NICON Insurance Plc as Senior Manager/Head, Strategic Business Unit before joining Oceanic Insurance Company Limited as Group Head, Brokers Management Unit in 2007. Adewale Kadri was the Acting Managing Director of Oceanic Insurance Company Limited/Old Mutual Nigeria General Insurance between July 2012 and April 2014. He left the services Old Mutual Nigeria as Business Development Executive in April 2017 and joined AIICO Insurance Plc as General Manager, Head of Non-Life Business. His appointment as Executive Director was confirmed by NAICOM on the 5th of February 2018. He is a Fellow of Chartered Insurance Institute of Nigeria and a Chartered Certified Accountant. He holds a B.sc in Applied Accounting from Oxford Brookes University, United Kingdom and Master’s Degree in Business Administration with specialization in Marketing from Lagos State University, Ojo. He is also an Alumnus of the Polytechnic Ibadan where he obtained Higher National Diploma in Insurance and graduated with Upper Credit Division. He equally obtained Certificate of competence in Management Advancement Program from University of the Witwatersrand, Johannesburg, South Africa. By virtue of his position as the Executive Director- Technical Operations, he attends all meetings of the Finance & General-Purpose committee, ERM & Investment committee, and Statutory Audit. He joined the board on October 30, 2017.

Gbenga Ilori (B.Sc., MBA)

EXECUTIVE DIRECTOR, RETAIL BUSINESS DIVISION

Gbenga Ilori is a seasoned professional of about 30 years of progressive experience spanning Sales, Marketing, Operations, Customer Service, Strategy, and General Management. He is a certified insurance practitioner with strong financial acumen, complemented by a results-driven mindset. Known for his principled approach, collaborative leadership style, and bold thinking, Gbenga consistently challenges the status quo to drive superior outcomes. He joined AIICO Insurance Plc in November 2010 as Group Head of Retail, where he led the retail businesses across both Life and General operations. In this role, he successfully drove a major reorganisation of the agency network, strengthening the distribution of retail products nationwide. He also led the establishment of the annuity desk and championed the training of the agency network on annuity opportunities under the Pension Reform Act. In April 2012, he was appointed Special Assistant to the Group Managing Director, further deepening his strategic exposure. In 2014, he and his team pioneered the Microinsurance business within AIICO, expanding access to insurance solutions for underserved segments. In April 2012, he was appointed Special Assistant to the Group Managing Director, further deepening his strategic exposure. In 2014, he and his team pioneered the Microinsurance business within AIICO, expanding access to insurance solutions for underserved segments. Over the years, he has held several key leadership roles within AIICO, including Head of Lagos Mainland, Head of Agency Operations and Administration (Non-Life Retail), and Head of Life Benefits & Claims/Upcountry Operations. Gbenga exited AIICO in 2020 to join Coronation Life Assurance Limited as Executive Director – Technical. During his tenure, he oversaw the agency distribution channel, supported the bancassurance initiatives within the ecosystem, and led product development, technical operations, and marketing strategy execution. He rejoined AIICO in 2022 to lead the Retail Business function and Agency Operations, bringing renewed strategic direction and leadership to the division. Gbenga holds a Bachelor of Science (Hons) degree in Actuarial Science from the University of Lagos and a Master of Business Administration (MBA) with a specialisation in Marketing from the Federal University of Technology Akure. He is an Associate of the Chartered Insurance Institute of Nigeria (ACIIN) and has attended numerous executive development programmes locally and internationally in areas such as Microinsurance, Customer Experience, Brand Management, Strategic Marketing, Product Development, Business Strategy, Relationship Management, Risk Management, and Finance. He is an alumnus of the Lagos Business School and currently serves as a member of the Technical Committee of the Chartered Insurance Institute of Nigeria (CIIN).

Bisola Elias

CHIEF FINANCIAL OFFICER

Donald Kanu PhD, FIoD, CCO

Company Secretary / Chief Compliance Officer

Donald KANU, PhD, is a highly accomplished legal practitioner, corporate executive, and governance professional with an exceptional track record spanning legal advisory, corporate governance, regulatory compliance, and strategic leadership. A Solicitor and Advocate of the Supreme Court of Nigeria, Dr. Kanu brings to bear deep academic rigor, practical insight, and principled leadership developed over years of service at the highest levels of corporate and professional practice. He holds a PhD in International Law and Diplomacy, a distinction that underscores his strong analytical foundation and global perspective on legal, regulatory, and institutional frameworks. Complemented by extensive capacity-building programmes attended both locally and internationally, his academic and professional journey reflects a consistent commitment to excellence, continuous learning, and thought leadership. Dr. Kanu currently serves as Legal Advisor, Company Secretary, and Chief Compliance Officer at AIICO Insurance PLC, one of Nigeria’s foremost insurance institutions. In this triple-hat role, he plays a pivotal part in shaping corporate strategy, ensuring regulatory compliance, and safeguarding institutional integrity. He provides high-level legal counsel to the Board and Management, oversees corporate governance structures, and ensures strict adherence to statutory and regulatory obligations across a highly regulated industry. One of his key achievements lies in strengthening corporate governance practices, enhancing board effectiveness, and aligning organizational processes with evolving regulatory standards. His leadership has contributed to robust compliance frameworks, risk mitigation, and the promotion of ethical corporate culture. As Company Secretary, he has successfully coordinated board and shareholder engagements, ensuring transparency, accountability, and procedural excellence in line with best practices. As Chief Compliance Officer, Dr. Kanu has demonstrated exceptional competence in regulatory liaison, compliance audits, and the implementation of enterprise-wide compliance policies. His proactive approach has helped position his organization ahead of regulatory risks while fostering constructive relationships with regulators and stakeholders. Beyond his corporate role, Dr. Kanu is a respected member of the Nigerian Bar Association, the Chartered Institute of Secretaries and Administrators, and a Fellow of the Institute of Directors, reflecting his multidisciplinary expertise and professional standing. His contributions cut across law, governance, and boardroom leadership, making him a trusted voice in matters of corporate responsibility and institutional sustainability. Widely regarded for his intellectual depth, professional integrity, and strategic mindset, Donald KANU, PhD, exemplifies the modern corporate lawyer—one who seamlessly integrates legal excellence with business acumen and governance leadership. His career continues to be defined by impact, credibility, and a clear commitment to advancing sound corporate practice and institutional trust. Dr. Donald Kanu has been consistently recognized in the Legal 500 GC Powerlist Nigeria for three consecutive years, a distinction that highlights leading in-house counsel who demonstrate exceptional legal expertise, leadership, and strategic influence within their organizations. This recognition reflects his significant contributions to corporate governance, regulatory compliance, and high-level legal advisory within the Nigerian corporate landscape, as well as his reputation for delivering sound legal judgment and business-focused solutions. Donald graduated from University of Calabar and later went on to pursue a Master's Degree in Business Administration from the same University. He later proceeded to obtain an LL.M from the University of Lagos. He recently obtained a Doctorate Degree from Lead City University. Donald has attended several capacity building courses both within and outside the country. He is a member of the Nigerian Bar Association, the Institute of Chartered Secretaries and Administrators and a Fellow of the Institute of Directors