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Appointments

Universal Insurance Plc appoints new Non- Executive Director 

Universal Insurance Plc has appointed Barr. Jasper Osita Nduagwuike to its Board as a Non-Executive Director.

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Universal Insurance Plc appoints new Director 

Universal Insurance Plc has appointed Barr. Jasper Osita Nduagwuike to its Board as a Non-Executive Director. The insurance company made this disclosure in a notification to the investing public. 

Profile: Nduagwuike holds a Bachelor’s Degree in Law (LLB. Hons.) from the University of Nigeria, Enugu Campus and a Masters Degree in Law (LLM) from the Nnamdi Azikiwe University, Awka, majoring in Arbitration and Administrative Law. He was subsequently called to the Nigerian Bar after obtaining the Bachelor of Law Degree (B.L.) from the Nigerian Law School.

He is an Associate Member of the Chartered Insurance Institute of Nigeria (ACIIN); Member, Chartered Insurance Institute, London (MCII); Member, Association of Professional Bodies of Nigeria; Associate Member, Chartered Institute of Arbitrators, London; Member, Onitsha Chamber of Commerce, Industries, Mines and Agriculture.

[READ MORE: AIICO Insurance appoints new Executive Director]

He is also a Council Member, Enugu Chamber of Commerce, Industries, Mines and Agriculture as well as vice president in charge of the Chamber’s trade affairs. 

He started his career with the then African Alliance Insurance Company Limited (Now African Alliance insurance Plc.) as a field supervisor in 1984 and rose to become a District Superintendent in 1989.

He left the Company in 1990 to Stallion Assurance Company Limited, Enugu where he became the Pioneer Production Manager. He worked in several other companies within the industry in different capacities and was the pioneer Managing Director of Honesty Insurance Company Limited, a position he held from 1996 to 2003.

He is presently engaged in legal practice as the Principal Partner at Repsaj and Co., a law firm he co-founded with others in 2003. Mr Nduagwuike is also a public speaker and is married with children. 

Deal book 300 x 250

Universal Insurance Plc was incorporated in 1961 by the then Eastern Nigeria Government; in partnership with Pearl Assurance Limited. Its shares closed at 50 kobo during yesterday’s trading on the NSE. 

[READ ALSO: Takaful Insurance: Two other firms get NAICOM’s nod]

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ).Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Appointments

ValuAlliance Asset Management appoints two new Directors

ValuAlliance Asset Management has announced the appointment of two persons into its Board as Directors.

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ValuAlliance Asset Management, the fund manager of the ValuAlliance Value Fund, has announced the appointment of Messrs Obinnia Abajue and Kofi Kwakwa into its Board as Directors.

This is according to a disclosure sent to the Nigerian Stock Exchange and seen by Nairametrics. In line with statutory requirements, the appointments are subject to confirmation from the Securities and Exchange Commission (SEC) and approval by the shareholders at the company’s next Annual General Meeting (AGM).

According to the notice, Mr Obinnia Abajue was appointed as Independent Non-Executive Director while Mr Kofi Kwakwa was appointed as Non-Executive Director. The profile of the aforementioned experts is succinctly captured below;

READ: FBN Holdings appoints ex-CEO of Guinness Nigeria and 2 others as Board Directors

Mr Obinnia Abajue

Mr. Abajue has over two decades of experience in banking and financial services. He is the current Chief Executive Officer (CEO) of Hygeia HMO Limited, a position he has held since November 2016. He is an alumnus of the University of Lagos and Imperial College London, where he obtained a Bachelor’s degree in Actuarial Science and an MBA respectively. Mr Abajue is a fellow of numerous professional bodies like; The Chartered Institute of Management Accountants, UK; The Institute of Chartered Accountants of Nigeria; The Chartered Institute of Bankers of Nigeria and the Chartered Institute of Stockbrokers of Nigeria.

Kofi Kwakwa

Mr. Kwakwa is a Ghanaian and a former CEO of Sagevest Holdings, an investment holding company in Ghana. He has over 25 years of experience in investment banking and consulting, having worked in top firms like Standard Bank, McKinsey & Company among others. He is currently a director at African Capital Alliance Limited (ACA), having joined the Board since 2015. Mr. Kwakwa is an alumnus of Swarthmore College and Harvard Business School, both in the USA, where he obtained a B.A. in Mathematics/Economics and an MBA respectively.

READ: Dangote Sugar yearly revenue surge by 33%, announces a dividend of N1.50

What they are saying

Commenting on the recent development, a part of the press release reads: ‘’The Board of Directors congratulates Mr. Abajue and Mr. Kwakwa on their appointment and is looking forward to tapping into their vast wealth of experience to further accelerate the achievement of its vision, to be the premier investment management fiduciary in the segments we serve.’’

What you should know

  • ValuAlliance had earlier posted a Profit After Tax of N237.96 million in its last reported financial statements-Q3, 2020. The PAT figures indicated a surge by over 1,000% YoY.
  • ValuAlliance Value Fund formerly known as “SIM Capital Alliance Value Fund”, is a closed-end collective investment scheme, registered and regulated by the Securities and Exchange Commission, whose units are listed on the main board of the Nigerian Stock Exchange (“NSE”).

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Appointments

Greenwich Merchant Bank appoints Bayo Rotimi as MD/CEO

Bayo Rotimi has been appointed the new MD/CEO of Greenwich Merchant Bank.

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Greenwich Merchant Bank has announced the appointment of Mr Bayo Rotimi as its new Managing Director/ Chief Executive Officer.

This is according to a notification made available on the bank’s social media handle, seen by Nairametrics.

As part of his responsibilities, Mr Rotimi is expected to provide leadership and direction to the management team and take charge in optimizing the company’s overall strategic objectives and operational performance, in a bid to deliver optimal value for stakeholders, without compromising quality and standards.

About Bayo Rotimi

Mr Rotimi is an experienced investment banking professional with over 27 years’ experience. He worked for various financial institutions such as Lead Merchant Bank and FCMB Capital Markets, where he rose through the echelons to become the CEO of the latter in 2008. Prior to his recent appointment, he was the chairman of the investment committee of ARM’s Discovery, Aggressive, Growth, Ethical, Money Markets, Fixed income and Eurobond funds with over N110 billion under management.

What they are saying

Commenting on the recent development, Chairman of Greenwich Merchant Bank, Kayode Falowo said: “Bayo’s track record and pedigree speaks for itself and offers a reassuring nexus between the corporate ideals that Greenwich is reputed for and proactive dynamism required to stay on the cutting-edge of innovation, product development and stakeholder satisfaction.”

What you should know

  • Recall that Greenwich Trust Limited was officially renamed Greenwich Merchant Bank in September 2020, after obtaining regulatory approval from CBN to operate as a Merchant Bank.
  • Greenwich Merchant Bank Limited was incorporated on the 25th of February, 1992 and subsequently commenced operations in June 1994.

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