Babatunde Fajemirokun is the Managing Director and CEO at AIICO Insurance PLC, a position he has held since August 14th, 2019. He has decades of professional experience cutting across management consulting, insurance, and asset management. He joined AIICO Insurance PLC, Life Insurance Division in May 2009, and was responsible for value-enhancing projects in its maiden growth strategy, business process and technology transformation projects. Prior to his appointment as Managing Director and CEO, he held roles that were responsible for key strategic and operational functions across the business. He was Divisional Head Operations & Technology (2009-2013), Chief Operating Officer (2013-2017) and Group Chief Business Officer (2017-2019).
Babatunde started his career in academia in 2001, as a visiting lecturer in the Department of Economics & Enterprise at Glasgow Caledonian University, Scotland. He worked with Accenture, Lagos (2003 – 2007), and then Capgemini Consulting, UK (2008 – 2009). In his management consulting roles, Babatunde provided consulting/advisory services to Financial Services (banking and insurance) and Government Clients, predominantly in mergers and acquisitions, and then United Kingdom Government transformation programs. He also has external appointments as a Non-Executive Director in Food Concepts Plc (chairs the Finance & General-Purpose Committee) and Xerox Corporation Nigeria (XHS).
Babatunde is a Fellow of the Society of Underwriting Professionals (FCII), Chartered Insurance Institute UK, and a Chartered Insurer, and has an MBA from the University of Chicago Booth School of Business (2013), a Business Information Strategy Master’s degree (dist.) from the University of Strathclyde (2002), and a Bachelor’s Degree in Business Economics from Glasgow, UK (2000).
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
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 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
Head, Retail Business Division
Gbenga is a seasoned professional with over 20 years of progressive work experience in areas that cut across Sales, Marketing, Operations, Customer Service, Strategy, and General Management. He is a certified insurance practitioner with high financial acumen matched by a success-driven personality. He is self-directed, highly principled, and a collaborative leader. He is a bold and disruptive leader, who is always ready to challenge the status quo for better results.
He joined AIICO Insurance Plc in November 2010 as the Group Head of Retail, to drive the retail businesses of both Life and General operations. This he did successfully, overseeing a major re-organization of the agency network for the distribution of all retail products within AIICO. He led his team to establish the annuity desk in AIICO and trained their agency network on annuity opportunities in the Pension Reform Act. He was later appointed the Special Assistant to the Group Managing Director in April 2012. He and his team pioneered the Microinsurance Business in AIICO in 2014. Some other positions held in AIICO include Head of Lagos Mainland, Head of agency operations and administration/non-life retail, and Head of life benefits and claims/upcountry Operations.
Gbenga left AIICO in 2020 to join Coronation Life Assurance Limited in 2020 as the Executive Director – Technical. During his period at Coronation, he oversaw the agency distribution channel, supported the bancassurance initiative of the ecosystem, oversaw product development, technical operations, and the execution of the marketing strategy in the company.
Gbenga Ilori rejoined AIICO in 2022 to lead the Retail Business function and Agency Operations.
He holds a B.SC (Hons) in Actuarial Science from the University of Lagos and a Master’s Degree in Business Administration with a specialization in Marketing from the Federal University of Technology Akure. He is an associate of the Chartered Insurance Institute of Nigeria (ACIIN) and has attended several courses in Microinsurance, Customer Experience, Brand Management, Strategic Marketing, Product Development, Business Strategy, Relationship Management, Risk management, and Finance, both locally and abroad.
He is an alumnus of the prestigious Lagos Business School, where he took a 9-month course in Senior Management. He is also a member of the Technical Committee of the Chartered Insurance Institute of Nigeria (CIIN).
Chief Financial Officer
Mr. Oladeji Oluwatola started his career with KPMG in 2004 as an audit trainee, where he rose to lead audits of various companies in the financial services sector covering insurance, banks, funds and pension fund administrators (PFA), including three of the biggest insurance companies and PFAs in Nigeria. He left KPMG in 2017 to join Letshego Microfinance Bank Limited, a member of one of the leading microfinance banks in Africa, as its Chief Financial Officer, before leaving Letshego in 2018 to join AIICO Insurance PLC as its Chief Financial Officer.Mr. Oladeji Oluwatola holds a Bachelor’s Degree in Applied Geophysics from Obafemi Awolowo University and a Master’s Degree in Business Administration from the Lagos Business School. He is a Chartered Accountant with more than thirteen years’ experience in audit, finance and risk management. He is a Fellow of the Institute of Chartered Accountants of Nigeria, ICAN.
Donald Kanu is the Company Secretary/Legal Adviser at AIICO Insurance Plc. He commenced his career with Savannah Bank and then moved on to join A.U. Kalu (SAN) and Associates. He was recruited back to the financial services sector where he worked with UTB Trustees and Fidelity Bank respectively. He later left Fidelity Bank to join Globacom, a telecommunications company. After his period in the telecommunication industry, Donald moved back to the financial sector when he joined the Cornerstone group as the Company Secretary/Legal Adviser and Chief Compliance Officer. He was recruited to join AIICO from the Cornerstone Group in 2014. 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. 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 member of the Institute of Directors.
CHIEF RISK OFFICER
Abiodun Adebanjo is a seasoned Audit Executive with an impressive track record of more than two decades of hands-on experience in financial services industry. Prior to joining AIICO Insurance Plc. in 2010 as the Chief Audit Executive, Abiodun served in various operational and managerial capacities in reputable and top rated Banks in Nigeria which include Ecobank Nig. Plc, Diamond Bank, UBA Plc and First Bank. His experience in the financial sector spans over 20 years, covering Banking Operations, Cash Management Services, Operational Risk Management, Internal Audit and Control, Abiodun has shown strong professional bias for Audit and Risk Management. He is highly numerate and possesses strong passion for excellence and organizational transformation.He is an excellent team player and a highly motivated professional imbued with a strong spirit for achievement.Abiodun holds a Bachelor of Science degree in Mathematics and Statistics from the University of Lagos with a first-class grade and the overall best student from the Faculty of Science. He earned an MBA in Business Management (Finance and Accounting) from the prestigious University of Liverpool, UK.
He is a professional member and Fellow of the Institute of Chartered Accountants of Nigeria (ICAN); a member of Chartered Institute of Taxation (CITN); a member of the Institute of Internal Auditors; and a member of Nigeria Institute of Management Chartered (NIMC).
He has attended several Leadership and Executive development programmes, both local and International one of which was the Executive Management Programme of Wharton School of Business, University of Pennsylvania, USA. He is also a certified ISO 22301 and ISO 27001 Lead Implementer and Lead Auditor.
CHIEF DIGITAL AND INNOVATION OFFICER
Olusanjo Shodimu started his career in 2003 as a technical sales lead with a local software company in Lagos, before joining Broad Bank Nigeria Limited (now part of Union Bank) as a Technology Analyst – where he was responsible for network operations and service delivery. Prior to joining AIICO Insurance Plc, he worked with Accenture – a global management consulting and technology company for 10 years (2004 – 2014) where he led the delivery of various strategy and business transformation projects for major banking and insurance clients in Nigeria and across the West African region. Olusanjo joined AIICO in June, 2014 as Chief Information Officer with responsibility for providing strategic leadership for the development and implementation of information technology initiatives to deliver on the strategic mandates and objectives of AIICO. In 2019, he was appointed Divisional Head, Shared Services which encompasses Technology & Operations, Customer Service, Strategic Marketing & Communication, Strategy & Corporate Planning and Estate Management – with responsibility for aggregating group synergies for cost optimization and returns on investment.He holds an MBA from University of Chicago Booth School of Business and a First Class degree (Hons) in Physics from the University of Ibadan. He is a qualified Project Management Professional, an ITIL Service Management Expert (UK) and also holds Cert in Insurance (CII) from the Chartered Institute of Insurance, UK (ACII).
Head, Group Life Business
Mrs. Iyabo Sarah Adeniran is the Head, Brokers Management of AIICO Insurance Plc. She joined AIICO in August 2007, after the mergers between AIICO Insurance and Nigerian French Insurance (NFI).
Prior to joining NFI, Iyabo was a Senior Manager with Confidence Insurance Plc. Iyabo began her career in the insurance industry with Triumph Insurance Brokers. She left Triumph Insurance Brokers to join Prudential Union Company Limited. She was with Prudential for six years as a Senior Manager before she moved on to Confidence Insurance Plc.Mrs. Adeniran holds a Masters of Business Administration from the Federal University of Technology Akure. She is an Alumni of Lagos Business School and a professionally certified Insurance Practitioner.
Head, Technical – Retail Business
Titilola Ramota Okunlola started her career in 1996 as a Senior Superintendent (Underwriting) with Elmac Assurance (Nigeria) Limited, before joining Lasaco Assurance Plc as a Senior Manager (Technical Operations) – where she was responsible for technical operations of Life, Pensions & All Classes of Non-Life Business.
Prior to joining AIICO Insurance, she worked with Cornerstone Insurance Plc. (2007 - 2008) as a Sectional Head – Underwriting (Mainland Brokers Market) where she was responsible for underwriting Non-Life Businesses
Titilola joined AIICO in September 2008 as a Senior Manager - Technical department AIICO General Insurance Company Ltd.
In December 2013, she was appointed Head, Claims & Benefits – Life Business Division.
She holds a Master of Business Administration MBA (Executive) from the University of Uyo, Nigeria, and a Higher National Diploma in Insurance with the grade of Distinction from the Polytechnic, Ibadan, Nigeria. She is a Fellow of the Chartered Insurance Institute of Nigeria (FCIIN) and an Alumni of the Lagos Business School (LBS.).
Head, Oil & Energy
Akinsola is a seasoned executive with over two decades of experience in Insurance practice
which cut across loss adjusting, claims operations, branch management and regional
operations. Prior to AIICO, Akinsola worked with International Loss Adjusters, Sovereign Trust
Insurance Plc, Oceanic Insurance and Old Mutual Nigeria where his impressive achievements
were rewarded both locally and internationally.
He has attended several courses on insurance underwriting, risk management, marketing &
sales at various stages of his career.Akinsola Akinsola holds BA (Hons) degree in Philosophy from Ogun State University, MBA
from Adekunle Ajasin University and Master of Managerial Psychology from the University of
Ibadan. He also holds Masters of International Law & Diplomacy and a Master’s degree in
Political Science, both from the University of Lagos.
He is an Associate of Chartered Insurance Institute of Nigeria (CIIN), Nigerian Council of
Registered Insurance Brokers (NCRIB) Nigeria Institute of Management (NIM) and an
Alumnus of the prestigious Lagos Business School.
Head, Northern Region
Oladele Akanni has over 20 years insurance industry experience
spanning Risk management, Relationship management at
Senior to strategic management level.
He started his insurance career at International Insurance
Brokers, Kano in 1996 and later moved to Standard Alliance
Insurance plc in 1997 as its pioneer Kano manager. In 2007, he
moved to Head office of Standard Alliance insurance as Group
Head, General Business Team and grew to become the
Divisional Head, Business Development Division.
In 2014 he was transferred to Abuja as the Regional manager,
He joined AIICO Insurance plc in 2016 as Regional Head,
He is also an Associate Member of the Chartered Insurance
Institute of Nigeria.He is a 1994 graduate of the University of Jos. He
also obtained a PGD (MANAGEMENT) and MBA in 2000 and
2001 respectively from Bayero University Kano.
Head, Non-Life Technical
Ezekiel Olukolajo started his career in 1999 as an Assistant Superintendent with Law Union & Rock Insurance Plc - Warri Branch, where he coordinated Underwriting of Marine, Motor & General Accident Policies and assisted the Branch Manager in the running of the Branch.
He also put in various years of work experience with Royal Exchange Assurance Plc, UBA Insurance Company, United Bank for Africa Plc, Old Mutual Nigeria and Standard Alliance Insurance Plc, all at various leadership levels.
Prior to joining AIICO as Head of Technical (Non-Life Operations), he worked with The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) – A Corporation of the Central Bank of Nigeria, where he played major role in establishing the framework for insurance, and activation and operationalization of the Insurance Facility Pillar, which is one of the five pillars of NIRSAL.
Ezekiel joined AIICO in October 2017 as a Principal Manager (Head, Technical) – Non-Life Business.He holds a Postgraduate Diploma in Education Management & Administration from Lagos State University, Ojo, Nigeria, and a Higher National Diploma in Insurance with Upper Credit from The Polytechnic, Ibadan, Nigeria. He is a Certified Insurance Practitioner (Associate, Chartered Insurance Institute of Nigeria - ACIIN)
Wycliffe Obutu is the Chief Actuary at AIICO Insurance Plc., leading the largest Actuarial team in Nigeria’s insurance industry. Before joining AIICO in 2018, he consulted at Ernst & Young in South Africa and worked at leading Insurance Groups in East Africa.
Wycliffe’s area of expertise includes a wide range of business and actuarial skills, in Life, General and Health insurance, Asset Management and Retirements Benefits industry; Strategy Formulation and Execution; Transactions Advisory Services; Leadership and
Entrepreneurship; Project Management; Risk Management; Europe’s Solvency II and South Africa’s SAM.
He successfully oversaw and delivered Financial Due Diligence on behalf of a predominantly South African based insurance group over five (5) West African countries that led to an acquisition of a 30% stake in the West African-based insurance group. This transaction (the most extensive insurance transaction in Africa in recent times) led to the South African based insurance group becoming the largest insurance group in Africa.
He has co-founded and participated in several start-ups and investment groups in Kenya. He sits on the Board of Directors (including Chairperson roles) and played in various positions including governance, strategy, valuations, and fundraising.Wycliffe is a Fellow of the Institute of Actuaries (UK), the Actuarial Society of Kenya,
Nigeria, and South Africa. He is also a member of the Life Insurance and Risk-based
Capital Modelling Task Groups of the Actuarial Society of Kenya
Executive Director, Operations