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Number 1 Retail Life Insurer
aiicontact@aiicoplc.com 01 270 2930 0700 AIIContact (0700 2442 6682 28)
Babatunde Fajemirokun

Babatunde Fajemirokun

MANAGING DIRECTOR / CHIEF EXECUTIVE OFFICER
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 of 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 the 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).
Adewale Kadri

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 rudiments 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 of the 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 of the Strategic Business Unit before joining Oceanic Insurance Company Limited as Group Head of the 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 of Old Mutual Nigeria as a Business Development Executive in April 2017 and joined AIICO Insurance Plc as General Manager and 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 a 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 a Higher National Diploma in Insurance and graduated with Upper Credit Division. He equally obtained a Certificate of Competence in Management Advancement Program from the 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

Gbenga Ilori

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 Micro Insurance 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 of 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 Micro insurance, 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).
Bisola Elias

Bisola Elias

CHIEF FINANCIAL OFFICER
Bisola Elias is the Chief Financial Officer of AIICO Insurance Plc. She joined AIICO in August 2007, following the merger of AIICO Insurance and Nigerian French Insurance (NFI); her professional career in the insurance industry started with NFI. She is a senior finance and accounting professional with over two decades of experience in the insurance industry. She has a strong background in finance operations, budget creation, cost management, financial reporting, analysis, and management. Renowned for her adept decision-making and keen business acumen, Bisola possesses a remarkable ability to steer businesses toward profitability while upholding the highest standards of service quality. She is a dedicated leader with a profound passion for coaching and mentoring emerging professionals. She is committed to imparting essential values that will safeguard the future of the corporate world, particularly within the insurance industry, ensuring its continuity and resilience. She is a Fellow of the Institute of Chartered Accountants of Nigeria. She holds an MBA in Risk Management from the University of Cumbria, United Kingdom. She is also an alumna of Lagos Business School and Moshood Abiola Polytechnic (formerly Ogun State Polytechnic) where she obtained a Higher National Diploma in Accountancy.
Donald Kanu

Donald Kanu

COMPANY SECRETARY
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 the University of Calabar and later pursued 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.
Abiodun Adebanjo

Abiodun Adebanjo

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 the 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 Eco bank 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, and Internal Audit and Control. Abiodun has shown strong professional bias for Audit and Risk Management. He is highly numerate and possesses a 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 is 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 the Chartered Institute of Taxation (CITN); a member of the Institute of Internal Auditors; and a member of the 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.
Olusanjo Shodimu

Olusanjo Shodimu

CHIEF DIGITAL AND INNOVATION OFFICER
Olusanjo Shodimu embarked on his professional journey in 2003 as a technical sales lead with a local software company in Lagos. Subsequently, he transitioned to Broad Bank Nigeria Limited (now part of Union Bank) as a Technology Analyst, where he oversaw network operations and service delivery. Building upon his experience, Olusanjo joined Accenture, a global management consulting and technology company, in 2004 and dedicated a decade (2004 – 2014) to leading the delivery of various strategy and business transformation projects for major banking and insurance clients in Nigeria and across the West African region. In June 2014, Olusanjo became part of AIICO Insurance Plc as Chief Information Officer, entrusted with providing strategic leadership for the development and implementation of information technology initiatives to fulfill AIICO's strategic mandates and objectives. Recognized for his exemplary performance, he was appointed Divisional Head, Shared Services in 2019. In this role, he oversees Technology & Operations, Customer Service, Strategic Marketing & Communication, Strategy & Corporate Planning, and Estate Management. His responsibilities include aggregating group synergies for cost optimization and maximizing returns on investment. He holds an MBA from the 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 holds a Cert in Insurance (CII) from the Chartered Institute of Insurance, UK (ACII).
Iyabo Adeniran

Iyabo Adeniran

HEAD, GROUP LIFE BUSINESS
Iyabo Sarah Adeniran is the Head of Brokers Management at AIICO Insurance Plc. Her journey with AIICO began in August 2007, following the mergers between AIICO Insurance and Nigerian French Insurance (NFI). Prior to her tenure at NFI, Iyabo held the position of Senior Manager at Confidence Insurance Plc. She initiated her career in the insurance industry with Triumph Insurance Brokers, later transitioning to Prudential Union Company Limited, where she served as a Senior Manager for six years before joining Confidence Insurance Plc. Iyabo holds a Master of Business Administration from the Federal University of Technology Akure. She is an alumnus of Lagos Business School and a professionally certified Insurance Practitioner.
 Titilola Okunlola

Titilola Okunlola

HEAD, TECHNICAL – RETAIL BUSINESS
Titilola Okunlola embarked on her professional journey in 1996 as a Senior Superintendent (Underwriting) with Elmac Assurance (Nigeria) Limited. She then transitioned to Lasaco Assurance Plc, assuming the role of Senior Manager (Technical Operations), where she was entrusted with overseeing the technical operations of Life, Pensions & All Classes of Non-Life Business. Prior to joining AIICO Insurance, Titilola served at Cornerstone Insurance Plc. (2007 - 2008) as a Sectional Head – Underwriting (Mainland Brokers Market), responsible for underwriting Non-Life Businesses. She joined AIICO in September 2008 as a Senior Manager in the Technical Department of AIICO General Insurance Company Ltd. In December 2013, she was appointed Head of Claims & Benefits in the Life Business Division. Titilola holds a Master of Business Administration (MBA) Executive from the University of Uyo, Nigeria, and a Higher National Diploma in Insurance with a grade of Distinction from the Polytechnic, Ibadan, Nigeria. She is a distinguished Fellow of the Chartered Insurance Institute of Nigeria (FCIIN) and an esteemed alumna of the Lagos Business School (LBS).
Akinsola Akinsola

Akinsola Akinsola

HEAD, OIL & ENERGY
Akinsola is a seasoned executive with over two decades of experience in Insurance practice which cuts 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 holds a BA (Hons) degree in Philosophy from Ogun State University, an MBA from Adekunle Ajasin University, and a Master of Managerial Psychology from the University of Ibadan. He also holds a Master of International Law & Diplomacy and a master's degree in Political Science, both from the University of Lagos. He is an Associate of the Chartered Insurance Institute of Nigeria (CIIN), the Nigerian Council of Registered Insurance Brokers (NCRIB) Nigeria Institute of Management (NIM) and an Alumnus of the prestigious Lagos Business School.
Oladele Akanni

Oladele Akanni

HEAD, NORTHERN REGION
Oladele Akanni brings over 20 years of extensive experience in the insurance industry, specializing in risk management and relationship management at senior to strategic management levels. His journey began in 1996 at International Insurance Brokers in Kano, where he initiated his insurance career. He then transitioned to Standard Alliance Insurance Plc in 1997, assuming the role of pioneer Kano manager. In 2007, Oladele ascended to the Head office of Standard Alliance Insurance, serving as Group Head of the General Business Team and later progressing to become the Divisional Head of the Business Development Division. In 2014, he transitioned to Abuja as the Regional Manager for the Northern region. In 2016, Oladele joined AIICO Insurance Plc as the Regional Head of the Northern region, bringing his wealth of experience to the company. Additionally, he is an Associate Member of the Chartered Insurance Institute of Nigeria. Oladele graduated from the University of Jos in 1994. He furthered his education by obtaining a Postgraduate Diploma in Management and an MBA in 2000 and 2001, respectively, from Bayero University Kano.
Ezekiel Olukolajo

Ezekiel Olukolajo

HEAD, NON-LIFE TECHNICAL
Ezekiel Olukolajo commenced his career journey in 1999 as an Assistant Superintendent with Law Union & Rock Insurance Plc - Warri Branch. In this role, he managed the underwriting of Marine, Motor & General Accident Policies while assisting the Branch Manager in branch operations. Over the years, Ezekiel gained diverse work experiences at Royal Exchange Assurance Plc, UBA Insurance Company, United Bank for Africa Plc, Old Mutual Nigeria, and Standard Alliance Insurance Plc, serving in various leadership capacities. Before assuming the role of Head of Technical (Non-Life Operations) at AIICO, Ezekiel contributed significantly to The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) – a Corporation of the Central Bank of Nigeria. Here, he played a pivotal role in establishing the framework for insurance and activating the Insurance Facility Pillar, one of the five pillars of NIRSAL. Ezekiel joined AIICO in October 2017 as a Principal Manager (Head, Technical) – Non-Life Business, bringing his wealth of experience and expertise to the company. Ezekiel 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 recognized as a Certified Insurance Practitioner (Associate, Chartered Insurance Institute of Nigeria - ACIIN).
Wycliffe Obutu

Wycliffe Obutu

CHIEF ACTUARY
Wycliffe Obutu holds the esteemed position of Chief Actuary at AIICO Insurance Plc., where he leads the largest Actuarial team in Nigeria's insurance industry. Prior to joining AIICO in 2018, Wycliffe garnered extensive experience by consulting at Ernst & Young in South Africa and serving in prominent roles at leading Insurance Groups in East Africa. Wycliffe's expertise spans a broad spectrum of business and actuarial domains, including Life, General, and Health insurance, Asset Management, and retirement benefits industry. He is adept in Strategy Formulation and Execution, Transactions Advisory Services, Leadership, Entrepreneurship, Project Management, and Risk Management. Notably, Wycliffe possesses in-depth knowledge of Europe's Solvency II and South Africa's SAM regulatory frameworks. One of Wycliffe's notable achievements includes overseeing and delivering Financial Due Diligence for a South African-based insurance group across five West African countries. This landmark transaction resulted in the acquisition of a 30% stake in the West African-based insurance group, making the South African-based insurance group the largest insurance group in Africa. In addition to his corporate roles, Wycliffe is actively involved in entrepreneurship, having co-founded and participated in several start-ups and investment groups in Kenya. He serves on various Boards of Directors, including Chairperson roles, contributing his expertise in governance, strategy, valuations, and fundraising. Wycliffe is a distinguished Fellow of the Institute of Actuaries (UK), as well as the Actuarial Society of Kenya, Nigeria, and South Africa. Furthermore, he is a member of the Life Insurance and Risk-based Capital Modelling Task Groups of the Actuarial Society of Kenya, showcasing his commitment to advancing actuarial practices and standards.
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