SUNU Assurances Nigeria Plc has announced the appointment of Roland Ouedraogo and Elie Ogounigni to its board of directors.
The disclosure was made in a notice to the Nigerian Exchange (NGX) and shareholders dated Tuesday, December 2, 2025, and signed by Company Secretary, Taiwo Kuku.
“SUNU Assurances Nigeria Plc (‘the Company’) hereby notifies its shareholders and the investing public that the National Insurance Commission (NAICOM) has approved the appointment of the following individuals as Directors on the Board of the Company effective Thursday, November 27, 2025: OUEDRAOGO, Roland Zwewendpaogré – Non-Executive; OGOUNIGNI, Elie – Executive Director.”
The appointments come at a critical time as insurance firms prepare for capital verification ahead of the industry’s recapitalisation deadline.
Profile: Roland Zwewendpaogré Ouedraogo
Mr. Roland Ouedraogo, appointed as Non-Executive Director, holds a Ph.D. in Mathematics from the University of Ouagadougou, Burkina Faso. He also earned a Post Graduate Degree in Actuarial Science from the Catholic University of Louvain, Belgium.
Ouedraogo brings extensive expertise in insurance and reinsurance, with experience spanning operations, IT, and human resources. He currently serves as CEO of SUNU Reassurance, the reinsurance arm of SUNU Group.
He is also a Director on the Board of the Association of Insurers of Côte d’Ivoire (ASACI) and Vice President of the Professional Association of Insurance Companies in Burkina Faso. Fluent in English, French, and Moore, Ouedraogo was first appointed to SUNU Assurances Nigeria Plc’s board in July 2025.
Profile: Elie Ogounigni
Mr. Elie Ogounigni, appointed as Executive Director, holds a Bachelor’s degree in Bank Administration from Université Abomey-Calavi, Benin, and a Master’s in Accounting and Finance from the Academy of Paris, France. He also completed a Chartered Accountant traineeship certified by the French Chartered Accountants Association (OEC, Paris).
Ogounigni began his career as an accountant in 1998 and rose to become General Manager, Risk and Control at SUNU Assurances Nigeria Plc. His professional development includes training in audit, risk management, leadership, and fraud detection.
He was appointed Executive Director, Risk and Control, in July 2025. Ogounigni is fluent in English, French, and Yoruba.
Board’s confidence in new leadership
The company expressed optimism about the appointments, noting:
“The Board is confident that the newly appointed Directors will bring fresh perspectives and strong leadership to guide the Company’s continued growth.”
What you should know
The announcement follows SUNU Assurances’ recent shareholder approval of a strategic N9 billion recapitalisation programme to comply with the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
- At its Extraordinary General Meeting (EGM) in Lagos, shareholders empowered the board to pursue fundraising options including rights issues, public offers, private placements, and strategic investor participation.
- The board also received approval to restructure share capital, engage professional advisers, and list newly issued shares on the NGX.
Chairman Kyari Abba Bukar had emphasized the urgency of the recapitalisation, stating that the initiative was necessary to meet the revised Minimum Capital Requirement (MCR) for non-life insurers, which NIIRA 2025 raised from N3 billion to N15 billion.
He disclosed that SUNU Assurances requires N9 billion as of September 30, 2025, to bridge its capital deficit before the July 30, 2026 compliance deadline.
