Veritas Kapital Assurance Plc has announced the appointment of Mr. Babatunde Irukera as the new Chairman of its Board of Directors, following a unanimous decision reached during the company’s 196th Board meeting held on July 31, 2025.
The announcement marks a significant move in the company’s ongoing commitment to strengthening its governance framework and driving sustainable growth.
Mr. Irukera had previously been appointed as a Non-Executive Director at the 195th Board meeting on May 2, 2025, a nomination that was subsequently approved by the National Insurance Commission (NAICOM).
His appointment will be presented to shareholders for ratification at the forthcoming Annual General Meeting scheduled later this year.
“The Board and Management extend their heartfelt congratulations to Mr. Babatunde Irukera on his new role and express full confidence that his wealth of experience, sound judgment, and leadership capacity will further strengthen the Company’s governance structures and drive sustainable growth in line with corporate best practices,” said a statement signed by Saratu Umar Garba, Company Secretary.
A Proven Leader in Law, Regulation, and Reform
Mr. Irukera is widely recognized as one of Nigeria’s foremost legal and regulatory experts, with over 30 years of experience in institutional reform, market regulation, and public interest litigation. He brings to Veritas Kapital a unique blend of legal acumen, policy insight, and strategic leadership honed through decades of service in both public and private sectors.
He is the immediate past Executive Vice Chairman/CEO of the Federal Competition and Consumer Protection Commission (FCCPC), where he led the transformation of Nigeria’s consumer protection landscape and pioneered the country’s first comprehensive competition law regime.
Under his leadership, the FCCPC became a benchmark for regulatory innovation, transparency, and market fairness, earning accolades for its proactive enforcement and stakeholder engagement.
Global Perspective with Local Impact
Mr. Irukera’s career spans advisory roles to Federal and State Governments, regulatory agencies, and international organizations, including high-profile aviation accident claims and multi-jurisdictional competition cases.
He has played a pivotal role in shaping national legislation across consumer protection, aviation, digital trade, and competition law.
A former Managing Partner at Simmons Cooper Partners, his expertise covers commercial law, securities litigation, corporate governance, and stakeholder relations. He is also actively involved in Africa-wide regulatory development, currently consulting for regional bodies such as ECOWAS, COMESA, and AfCFTA on digital trade and competition enforcement.
Credentials and Recognition
Mr. Irukera, who holds a law degree from Obafemi Awolowo University, is called to the Nigerian Bar and is admitted to practice in the United States. He is a member of the Nigerian Bar Association (NBA), American Bar Association (ABA), and International Bar Association (IBA). His contributions to legal and regulatory reform have earned him citations in Who’s Who Legal and The American Lawyer.
Strengthening Governance at Veritas Kapital
With Mr. Irukera’s appointment, Veritas Kapital Assurance Plc reinforces its commitment to strong corporate governance, regulatory excellence, and long-term value creation for shareholders and stakeholders.
His leadership is expected to guide the company through its next phase of strategic growth, regulatory alignment, and market expansion.
