African Alliance Insurance Appoints Mrs Omo as Acting MD

Image

By Modupe Gbadeyanka

Mrs Olufunmilayo Omo has been announced as the Acting Managing Director/CEO of African Alliance Insurance Plc.

This followed the retirement of Mr Alphonse Okpor as the company’s MD effective March 4, 2017.

African Alliance Insurance explained that Mr Okpor retired after attaining the retirement age of 60 as prescribed by the internal policy of the company

In a statement issued on Wednesday by the firm, it was also announced that Mr Cyril Ajagu has resigned as the Chairman of the Board of Directors of the company effective July 21, 2016.

“The Board, at its meeting on November 22, 2016, accepted the letter of resignation of Engr. Cyril Ajagu as the Chairman of the Board and thereafter instructed the Company Secretary to notify all relevant regulatory bodies,” the statement said.

The insurance firm noted that the appointment of Mrs Omo was an interim measure pending the appointment of a substantive Managing Director/CEO.

Mrs Omo, the statement said, is an alumni of the University of Lagos and W3S awarded a B.Sc. Degree from that Institution in 1990.

She was trained as a Life Insurance Underwriter by Munich Re in South Africa and has over 15 years’ experience in life and Pension Business.

Mrs Omo joined African Alliance Insurance Plc (then a limited Liability Company) as an Assistant Superintendent in 1991.

She rose to the position of a Controller (Technical Operations) in charge of Individual Business in 2004 and became an Assistant General Manager in 2006.

Mrs Omo, a Chartered Insurer, was in 2012, at the Annual General Meeting (AGM) of the company appointed as an Executive Director (Technical).

She is an Associate Member of Chartered Institute of Insurance, London, an Associate Member of the Nigerian Institute of Management and an Associate of the Certified Pension Institute of Nigeria.

Share
Related Stories
Image
22-February-2024

Purple Real Estate Welcomes Umar, Oladimeji to Board

By Adedapo Adesanya Nigerian real estate platform, Purple Real Estate Income Plc, has made significant changes to its board, marking a pivotal moment in the company’s growth strategy amid current macro headwinds. The reshuffle brings on Mr Aminu Umar and Mr Olasunkanmi Oladimeji to join the board as Non-Executive Director and Executive Director. The duo of Mr Umar and Mr Oladimeji will take over from Mrs Osareme Archibong and Mrs Fiona Ahimie, both outgoing Independent Non-Executive Directors, according to notice on NASD OTC Securities Exchange, where the company trades its securities. Commenting on the changes, the Chairman of the board,

Image
05-February-2024

Oyinsan Takes Over as Pan-Atlantic University Alumni President

By Modupe Gbadeyanka A renowned broadcaster and media personality, Mr Gbemileke Oscar Oyinsan, has become the new president of the Pan-Atlantic University Alumni Association (PAUAA). Mr Oyinsan assured he and his team would promote the aims and objectives of the university and forge stronger links among the alumni and administrators of the foremost citadel of knowledge. “The focus of these new executives under my leadership is to ensure that the alumni stay connected and engaged through strategic execution of events and programmes that bring value,” he stated. The show host reiterated that the PAU over the years has earned a

Image
02-February-2024

Adenike Aboderin Begins Tenure as SAHCO Chief Executive

By Adedapo Adesanya Mrs Adenike Aboderin began her role as Managing Director/Chief Executive Officer of the Skyway Aviation Handling Company (SAHCO) Plc on February 1, 2024. She is taking over from Mr Basil Agboarumi due to the completion of his tenure. She is a seasoned finance professional with many years of Executive Leadership, Financial, and Management experience in both Private and Public Sectors. Her skills include policy/strategy formulation, financial advisory, oil & gas, infrastructural, marine and transport development, business/risk management, and public policy. According to a statement, her appointment reflects SAHCO’s commitment to excellence in aviation ground handling services, including

More Stories
Image
05-November-2016

Sokoto Agog For 3,000-Horse Durbar For Sultan

By Dipo Olowookere The ancient city of Sokoto is already in cloud nine due to different dignitaries trooping in to honour the Sultan of Sokoto, Mr Sa’ad Abubakar 111. Nigeria’s President, Mr Muhammadu Buhari is also expected to be in town to felicitate with the highly respected monarch, who marks his 10th year on the throne. Today’s ceremony is a 3000-horse Durbar event put in place by the state government for the anniversary and as at press time, first class traditional rulers from across the country are already at the venue for the occasion. Some of them include the Ooni

Image
30-May-2017

AURAK Signs Deal with German Renewable Energy Firm

By Dipo Olowookere A Memorandum of Understanding (MoU) has been signed by the American University of Ras Al Khaimah (AURAK) and Neon Energy Green Building Construction Materials, a multinational German firm which focuses on energy-efficiency and renewable solutions. Neon Energy will assist the university throughout its participation in the 2018 Solar Decathlon Middle East competition, which will see AURAK construct an entirely sustainable, zero-energy home. The agreement ensures that the students who form the university’s team will receive training, support and the latest technology as they participate in the prestigious event. Prof. Hassan Hamdan Al Alkim, president of the university,

Image
20-March-2021

Hinckley Signs Deal to Recycle Lumos Batteries

By Dipo Olowookere As part of its commitment to align with the United Nations Sustainable Development Goals (SDG), a market leader in home solar systems in Nigeria, Lumos, has entered into a partnership with Hinckley Recycling for the recycling of its batteries. Lumos, which makes reliable and clean power accessible to many consumers, including low-income earners, said it took this step because of its importance to a sustainable battery supply chain. Batteries are vital for delivering clean, reliable energy access because they enable off-grid users to optimize the consumption of solar/wind energy; and support increased reliability of power for users

Image
06-July-2020

Nigeria’s Local Content Board Offers $50m for Oil/Gas Research

By Adedapo Adesanya The governing council of the country’s local content agency, the Nigerian Content Development and Monitoring Board (NCDMB), has approved $50 million to boost research in the oil and gas sector. It was stated that the money would be used for the establishment of research and development of Nigerian Content Research and Development Fund (NCR&DF). According to the Minister of State for Petroleum Resources, Mr Timipre Sylva, the NCDMB Governing Council at a meeting held in June approved the deployment of $50 million Research Fund for sustainable funding of NCDMB’s mandate on Research & Development as enshrined in

Image
04-August-2019

Chams to Deliver Strong, Sustainable Results

By Dipo Olowookere Shareholders of an information and communications technology (ICT) company, Chams Plc, have been assured of enhanced returns through the delivery of strong and sustainable performance. This assurance was given by the board of the firm at the Annual General Meeting (AGM) held last week in Lagos. Chairman of Chams Plc, Mrs Dere Awosika, while speaking at the gathering, said the firm was planning to consolidate on the progress made in the previous years to achieve this goal. According to her, the company was well positioned to enhance shareholders’ value with the successful restructuring of its finances, which

Image
31-October-2019

Naira Loses 53 Kobo, Trades N362.58/$ at I&E

By Adedapo Adesanya  Wednesday’s transactions closed at the foreign exchange market with the Naira depreciating against the US Dollar by the largest margin in months at the Investors and Exporters (I&E) segment of the market. According to data gathered from FMDQ, the local currency lost 53 Kobo or 0.15 percent to record N362.58/$1 against the American Dollar in contrast to N362.05 per Dollar recorded on Tuesday. This was despite the daily market turnover at the segment going down by 9.3 percent or $23.42 million during the session. Business Post reports that investors exchanged a total of $227.94 million compared with

Image
21-September-2020

Cameroon to Export Electricity to Nigeria

By Adedapo Adesanya Cameroon has announced plans to build a $3 billion hydropower plant in line with plans to become a net exporter of electricity to neighbouring countries, including Nigeria, by 2035. The project is an 810-megawatt Grand Eweng project that will be situated on the Sanaga River. It is going to be a joint venture between the government and the US-based energy company Hydromine Incorporated, making it the fifth hydro-project on the river. The new installation will start generating power by 2028 and capacity will increase to over 1 gigawatt several years after, according to Mr Lucas Briger, Vice

Image
20-March-2023

Emirates Forward Bookings Remain Robust on Strong Customer Demand

By Modupe Gbadeyanka The Chief Commercial Officer of Emirates, Mr Adnan Kazim, has said the airline’s forward bookings have remained robust amid a strong customer demand, spurring the company to ramp up its operations across continents. According to him, in the past months, the airline has planned and executed the rapid growth of its network operations, reintroducing services to five cities, launching flights to one new destination (Tel Aviv), and adding 251 weekly flights onto existing routes and continuing the roll-out of service enhancements in the air and on the ground. It was disclosed that Emirates has continued to scale

Ad
Ad
Recent Stories
Image
29-February-2024

Adesina to Receive Prestigious Obafemi Awolowo Prize for Leadership

By Ichie Enyi Ejike Umunnabuike Jr Come March 6, 2024, the Lagos Continental Hotel will host an unforgettable occasion when the President of the African Development Bank (AfDB), Mr Akinwumi Ayodeji Adesina, will be formally honoured and presented with the distinguished Obafemi Awolowo Prize for Leadership 2023. The Obafemi Awolowo Prize for Leadership was first announced in December 2012, with the official award ceremony held on March 6, 2013. Before Mr Adesina was announced as its fourth recipient, three other distinguished personalities had been conferred with the prestigious award – Noble Laureate, Prof. Wole Soyinka; former South African President, Thabo

Image
29-February-2024

Exploring Diverse and Evolving Sounds of Africa

Africa’s music scene is a sonic melting pot, where rhythms collide and cultures connect. It’s a universal language, a force that breaks boundaries and fuels the soul. This sonic tapestry isn’t just diverse – it’s explosive. Afrobeats and Amapiano own the spotlight right now. Those irresistible Afrobeats hooks? They’ve got the whole world dancing. And Amapiano’s hypnotic blend of South African house and street sounds? It’s straight-up addictive. Mainstream African artists are pushing the boundaries like no one else, taking Amapiano and running with it. They’re injecting their fire, creating a whole new flavour. This is proof that African music

Image
29-February-2024

Nigeria Needs Policies that Prioritize Economic Recovery—Peter Obi

By Adedapo Adesanya The presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, has raised concerns over the recent decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to increase the Monetary Policy Rate (MPR) to 22.5 per cent and the Cash Reserve Ratio (CRR) to 45 per cent. Mr Obi warned that this move is likely to worsen the ongoing economic challenges faced by many Nigerian households, and emphasized the need for policies that prioritize economic recovery. In a statement issued via X (formerly Twitter), the businessman and former

Image
29-February-2024

Silence Laboratories Raises $4.1m for Privacy-Preserving Computing

By Adedapo Adesanya Silence Laboratories has announced securing $4.1 million in funding to enable privacy-preserving collaborative computing led by Pi Ventures and Anurag Arjun, along with several prominent angel investors. In a statement shared with Business Post, the company said with the market for privacy-enhancing technologies (PETs) growing globally at a compound annual growth rate of 26.6 per cent, there is growing demand. In recognition of this, Silence Laboratories is offering to provide mathematical guarantees for techno-legal expectations as part of a mission to create infrastructure to enable complex data collaborations between enterprises and entities, without any sensitive information being

Image
29-February-2024

MainOne Stretches Submarine Cable to Akwa Ibom

By Modupe Gbadeyanka A submarine cable spanning 45,000km in length known as 2Africa has been landed in Akwa Ibom State by MainOne, an Equinix company. It is one of the world’s largest subsea cable projects and will interconnect Europe, Asia, and Africa, with a design capacity of up to 180Tbps. The cable is the first and only submarine cable system in Nigeria outside of Lagos, and it marks a significant milestone in enhancing broadband connectivity and driving economic development in the South-South, South-East and North-Central regions of Nigeria. The significance of 2Africa lies in its capacity to address critical internet

Image
29-February-2024

Russia, Mali Review Military Partnership

By Kestér Kenn Klomegâh  Russian Foreign Minister Sergey Lavrov has offered an increased military partnership during the latest bilateral talks held on February 28, 2024, with his Malian counterpart Abdoulaye Diop in Moscow. The significance of Russian support is directed at fighting terrorism and enhancing the combat effectiveness of the Malian army and law enforcement agencies, including the training of soldiers and police officers The interim military government has maintained a well-developed multifaceted nature of bilateral relations with Russia since the military ascended into political power. Russian leader Vladimir Putin and Mali’s Interim President Assimi Goita on the sidelines of

Image
29-February-2024

Anthropics Unveils Zyler Virtual Try-On for Menswear

By Modupe Gbadeyanka One of the global leaders in virtual fashion try-on technology, Anthropics, has moved to transform the future of online shopping with the introduction of the Zyler Virtual Try-On for menswear. The new initiative will improve the way consumers shop for clothes, providing a realistic virtual try-on experience. With it, customers can upload a headshot, enter some measurements, and then see themselves on the screen wearing the outfit. Powered by the latest research in Artificial Intelligence, Zyler creates a lifelike virtual representation of the user, allowing them to see how different garments fit and look on their unique

Image
29-February-2024

Aradel Holdings, CSCS, FrieslandCampina Sink NASD Exchange by 0.79%

By Adedapo Adesanya Profit taking in the trio of Aradel Holdings Plc, Central Securities Clearing System (CSCS) Plc, and FrieslandCampina Wamco Nigeria Plc made the NASD Over-the-Counter (OTC) Securities Exchange close the midweek session further in the red territory on February 28 by 0.79 per cent. Aradel Holdings Plc lost N20.50 to close at N2,500.00 per share compared with the previous day’s N2,520.50 per share, CSCS Plc depreciated by N1.35 to end the day at N18.65 per unit versus the N20.00 per unit it was traded on Tuesday, and FrieslandCampina Wamco Plc declined by 63 Kobo to N70.25 per share

Image
29-February-2024

Naira Gains as Binance, Others Halt USDT, USDC Exchanges Amid Crackdown

By Adedapo Adesanya The Naira appreciated against the US Dollar in the foreign exchange (FX) market on Wednesday, February 28 as crypto exchanges like Binance, will no longer allow users to buy the US Dollar Tether (USDT) and US Dollar Coin (USDC) stablecoins with Naira after renewed scrutiny from the Nigerian government. The regulatory crackdown continued in the Nigerian FX market as the country moved to aggressively suppress the activities of spectators and traders across digital platforms. On Wednesday, the Nigerian government tricked two executives of Binance – an American and a British Pakistani into the country for a meeting

Image
29-February-2024

Crude Oil Mixed on Undecided US Interest Rates Move, High Inventories

By Adedapo Adesanya Crude oil futures settled mixed on Wednesday after the US Federal Reserve held firm on its decision to hold off cutting interest rates soon while growing crude stockpiles in the world’s largest producer added further pressure. Brent crude futures settled 3 cents higher, or up 0.04 per cent at $83.68 a barrel while the US West Texas Intermediate futures (WTI) settled 33 cents lower, or down 0.42 per cent at $78.54. The market was unsteady over signs that interest rates in the world’s largest economy would remain elevated. US Federal Reserve Bank of New York President John