Cornerstone Insurance Plc has announced a strategic change in its board composition, marking the departure of Mr. Emeka Anthony Ogbechie and the appointment of Mr. Ejakhaluse Zoe Omonkhogbe as a Non-Executive Director.
The announcement was formally communicated to the Nigerian Exchange Limited (NGX), shareholders, and the investing public on Friday.
Mr. Ogbechie, who served as a Non-Executive Director, tendered his resignation from the board, concluding his tenure with the company. His exit paves the way for Mr. Omonkhogbe, whose appointment was approved by the National Insurance Commission (NAICOM) on July 28, 2025. The appointment is expected to be ratified at Cornerstone’s next Annual General Meeting.
“This is to notify Nigerian Exchange Limited (NGX), investing public, and the shareholders of Cornerstone Insurance Plc of recent changes to the composition of the Board of Directors of the Company,” the company stated.
A Seasoned Executive Joins the Board
Mr. Ejakhaluse Zoe Omonkhogbe brings over two decades of experience in finance, private equity, real estate, and professional services. He currently serves as Executive Director at Capital Alliance Nigeria, where he oversees the firm’s finance and tax functions.
His extensive boardroom experience includes serving as a Non-Executive Director across multiple companies, where he contributes strategic financial insight and governance expertise.
Omonkhogbe holds a Bachelor’s degree in Science and Education and earned his MBA as a Welch Scholar from the Jack Welch Management Institute. He is also a Chartered Accountant and Certified Treasury Professional, having completed executive education programs at the London School of Business and Finance and the University of Oxford.
Strategic Implications for Cornerstone
The appointment of Mr. Omonkhogbe signals Cornerstone Insurance’s commitment to strengthening its governance framework and enhancing strategic oversight.
His diverse background and leadership experience are expected to add significant value to the company’s long-term growth and operational resilience.
This board reshuffle comes at a time when Nigeria’s insurance sector is undergoing regulatory reforms and increased investor scrutiny, making seasoned leadership more critical than ever.
What You Should Know
- Cornerstone Insurance Plc announced a final dividend of 27 kobo for every share of 50 kobo, for the financial year ended December 31, 2024, to be paid to qualified shareholders.
- In Q1 2025, the company received premiums amounting to N13.8 billion, up from N9.8 billion in the same period last year.
- Meanwhile, claims paid rose to N3.9 billion, compared to N1.2 billion in March 2024, reflecting increased underwriting activity.
