Guinea Insurance Plc Charts Growth Path with New Directors and Capital Raise

Guinea Insurance Plc has announced key resolutions following its 67th Annual General Meeting held virtually on September 3, 2025. The company confirmed the appointment of four new directors: Mr. Temitope Borishade, Mrs. Ijeoma Pearl Okoro, Mrs. Bernice Izilen Okosun, and Dr. Nkemakonam Chukwukaondinaka Okeke. Additionally, Mr. Samuel Onukwue was re-elected as a director retiring by rotation.

Shareholders approved the audited financial statements for the year ended December 31, 2024, alongside reports from the directors, auditors, and the statutory audit committee. The remuneration of company managers was disclosed, and the board was authorized to fix the fees for external auditors.

The audit committee was reconstituted with Mr. Ayuba Quadri Yemi, Mr. Sonibare Waheed Akanni, and Mr. Peter Mgbeahuru representing shareholders, while Mr. Chioma Okigbo and Mr. Samuel Onukwue were appointed as board representatives.

Non-executive directors’ fees were fixed at ₦5 million for the Chairman and ₦4 million for other members, with additional sitting allowances per meeting. Crucially, shareholders authorized the board to initiate steps to increase the company’s minimum share capital in line with the Nigerian Insurance Industry Reform Act (NIIRA) 2025. This may be achieved through private placement, rights issue, strategic equity investment, public offer, or a combination thereof, subject to regulatory approvals