AIICO Insurance Names Three Directors

AIICO Insurance Plc has announced the appointment of three new directors to its board as part of efforts to strengthen governance, strategic oversight, and operational leadership within the company.

The appointments were disclosed in a notification signed by the company secretary, Donald Kanu.

According to the disclosure, Mr. Sadiq Mohammed was appointed as an Independent Non-Executive Director, while Mr. Tunde Mabawonku and Mrs. Rolake Akinkugbe-Filani were appointed as Non-Executive Directors.

The company stated that the appointments bring significant experience across banking, financial services, capital markets, infrastructure financing, investment management, and advisory services.

AIICO Insurance explained that the new directors are expected to support the company’s strategic objectives and reinforce board-level oversight amid changing market conditions.

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Sadiq Mohammed joins the board with more than three decades of experience spanning financial markets, pensions, infrastructure, fintech, real estate, and alternative investments.

He is the Founder and Chief Executive Officer of Hexium Investments, an investment and advisory company with operations across financial services and real estate sectors.

Before establishing Hexium Investments, Mohammed spent 28 years at ARM Group, where he occupied several senior leadership positions, including Deputy Group Chief Executive Officer, Managing Director of ARM Pension Managers, Chief Operating Officer, and Managing Director of ARM’s Proprietary Business.

During his time at ARM, he supervised major investment and infrastructure projects, including Lekki Concession Company, Fara Park Estate, Beechwood Estate, and Lakowe Lakes Golf and Country Estate.

He has also served on several boards, including FMDQ Clear Limited and FMDQ Group.

Mohammed currently serves on the boards of Meta Digital Services Nigeria Limited and DCSL Corporate Services Limited.

His academic qualifications include participation in Harvard Business School’s Advanced Management Program, an Executive MBA from Carnegie Mellon University and the University of Geneva, as well as a Bachelor of Technology degree from Abubakar Tafawa-Balewa University.

Tunde Mabawonku also joins the board with more than 25 years of experience in banking, finance, strategy, digital transformation, and risk management.

He currently serves as Executive Director overseeing Finance, Retail and Digital Business at Wema Bank Plc.

Before his elevation to executive director level, Mabawonku served as Chief Finance and Strategy Officer at the bank, where he supervised the Finance and Corporate Services Division.

His banking career also includes leadership positions at Chartered Bank, Prudent Bank, and Skye Bank.

Over the years, he has handled responsibilities covering financial control, strategic planning, performance management, cost optimisation, financial advisory services, and human capital management.

Mabawonku holds a Master’s degree in Finance from London Business School and a degree in Economics from the University of Ibadan.

He is also a member of several professional bodies, including the Institute of Chartered Accountants of Nigeria, the Chartered Institute of Bankers of Nigeria, and the Association of Chartered Institute of Taxation of Nigeria.

Rolake Akinkugbe-Filani joins the board with nearly two decades of experience across energy, development finance, banking, capital markets, risk advisory, and financial services.

She is the Founding Managing Director and Chief Executive Officer of EnergyInc Advisors, a firm focused on infrastructure financing, capital mobilisation, and strategic advisory services.

Her previous professional experience includes roles at Zenith Bank Plc, Mixta Africa, Ecobank Group, FBNQuest Merchant Bank, Eurasia Group, and Control Risks Group.

According to the company, her expertise covers investment oversight, energy finance, capital mobilisation, and risk governance across multi-jurisdictional and pan-African operating environments.

Akinkugbe-Filani holds a Global Executive MBA from the TRIUM programme jointly delivered by New York University Stern School of Business, the London School of Economics, and HEC Paris.

She also possesses degrees in International Relations and Government from the London School of Economics.

She currently serves as an independent Non-Executive Director at UpEnergy.

The new directors join a board chaired by Kundan Sainani, while Babatunde Fajemirokun continues to serve as Managing Director and Chief Executive Officer of the company.

Other executive directors on the board include Adewale Kadri and Gbenga Ilori.

The non-executive directors are Ademola Adebise, Samaila Dalhat Zubairu, Folake Edun, Olalekan Akinyanmi, and Raimund Snyders.

Kemi Adewole also serves on the board as an Independent Non-Executive Director.

AIICO Insurance said the appointments are expected to support the company’s long-term growth plans and reinforce governance standards within the organisation.