Jobs/Appointments
Basic Employee Benefits You Need Be Aware Of
Employee benefits constitute additional perks that employees get on top of their salaries from their employers. Benefits are valuable to both the employer and the employee. As an employer, you can attract and retain great employees if you offer them good packages.
On the other hand, benefits are valuable to employees since they offer relief in the time of need. There are different types of benefits, the perks you get depend on your company and the position that you hold. Read on to learn the basic employee benefits you need to be aware of.
Life Insurance
Life is unpredictable, and you can pass away at any time leaving behind some dependents. Life insurance offers protection to your family when you die, and they get the benefits as a lump sum when you die. You can privately acquire life insurance, but this option is expensive since these policies are offered through employers in most cases.
Medical Insurance
Medical insurance is probably the most important benefit that you should know of and must have. Health care is costly, and few people can afford it out-of-pocket without insurance. You can consider getting individual or group insurance as a matter of personal preference. There are various types of group insurance available in the healthcare marketplace, and these are designed to suit the needs of different people. These insurance plans cover surgeon and physician fees, prescription drugs, and hospital rooms. Coverage can also include your family depending on the type of policy that you hold.
The industry usually determines health insurance policies, and employers may pay the entire premium for their employees. In some instances, the employer just pays a part, and the employees top up the difference. Living without medical insurance is a great risk since anything can happen. Most employers offer group policies that cater to the universal needs of the majority of people in the company.
Disability Benefits
Workplace injuries are common, and they can incapacitate you for a specific period or you may suffer permanent disabilities. When you are not able to perform your job, you will lose some income and this can affect your welfare and that of your family. When you are eligible to get this benefit, it protects you when you are incapacitated. This type of benefit includes short term disability insurance that covers a few weeks following your accident. It usually lasts a short period when you are expected to recover fully and return to work. On the other hand, you could be entitled to a long term disability when the injury is permanent. In such a scenario, you may get disability benefits until your retirement age.
Retirement Benefits
As we age, there shall come a time when we leave employment and retire. Therefore, retirement benefits aim to help different people with a pension or income that can sustain their lives and families when they leave their careers. There are two types of retirement plans that include defined benefit plans and defined contribution plans. Defined benefit plans are also called pension plans, and the benefit amount is usually predetermined by your years of service and your salary. In the case of a defined contribution plan, the employee or employer makes specified contributions, but the benefit amount is attached to investment returns, and these are not guaranteed. A good example is a 401k plan.
Paid Leave
Paid leave or time off is another benefit that you should know since it gives you relief and a short break from work. The common types of paid off time include vacation leave, sick leave, and vacation leave. Some companies combine these so that the employees can use them as consolidated perks during the time of need.
Fringe Benefits
Fringe benefits as the name suggests are often viewed as minor non-cash perks, but they play a pivotal role in attracting and retaining talented workers. They include non-production bonuses, child-care, tuition assistance if you want to take part-time classes.
However, most firms require that employees take courses related to their current job responsibilities as part of career advancement. In most cases, full-time employees are eligible to get fringe benefits, and their job posts also determine the perks they can get.
Many companies offer a variety of benefits as part of service packages that are designed to protect the interests of the employees. An organization that offers lucrative benefits stands better chances of retaining talented employees. Some of the basic employee benefits include health insurance, life policy, retirement plan, paid leave, and disability benefit. Different factors determine your perks like a position in the company and industry.
By Adedapo Adesanya
WACT-APM Terminals Nigeria has announced the appointment of Mr Courage Obadagbonyi as Managing Director, effective July 1, 2026, succeeding Mr Jeethu Jose and becoming the first Nigerian to hold the post.
The appointment reflects the organisation’s continued focus on developing strong leadership from within its global talent pool while ensuring sustained growth and operational excellence.
A seasoned executive with more than two decades of international experience, Mr Obadagbonyi has held leadership roles across finance, operations and general management at leading global organisations, including APM Terminals, General Electric and Lafarge.
Prior to this appointment, he served as Chief Financial Officer (CFO) for the APM Terminals Nigeria cluster, with responsibility for financial strategy across Nigeria and San Pedro, Côte d’Ivoire.
He also served in an acting capacity as Managing Director of APM Terminals Apapa between 2025 and March 2026, further strengthening his operational leadership experience.
With experience spanning sectors such as oil and gas, power generation, logistics and healthcare, Mr Obadagbonyi brings deep expertise in financial management, risk optimisation and business performance.
Speaking on his appointment, he said, “I look forward to building on the strong foundation already in place at WACT. The terminal plays a critical role in connecting businesses in Eastern Nigeria to global markets, and we will continue to focus on safe, reliable and efficient operations.”
On his part, the Chief Executive Officer of APM Terminals Nigeria, Mr Frederik Klinke, noted that the appointment reflects the company’s commitment to leadership development and long-term growth.
“Across APM Terminals globally, we see strong collaboration and talent development across our teams. This appointment reflects the depth of experience within our organisation and our continued focus on building capabilities that support sustainable growth. Nigerians have continued to distinguish themselves through exceptional performance and leadership. Colleagues from our Apapa and Onne terminals have contributed their expertise internationally while also bringing back valuable best practices to strengthen operations in Nigeria.”
He added that Mr Obadagbonyi’s experience would support the next phase of operational excellence and value delivery at WACT.
The outgoing MD, Mr Jose, said, “It has been a privilege to lead WACT-APM Terminals Nigeria during a period of meaningful progress. The team has built a strong platform for the future, and I am confident in the continued success of the organisation.”
West Africa Container Terminal (WACT)-APM Terminals in Onne, Rivers State, is one of Nigeria’s leading container terminals, having commenced commercial operations in 2006.
The company has continued to invest in capacity expansion and modernisation, including a $115 million terminal upgrade project launched in 2020. The upgrade also includes the deployment of reefer racks with a 600-plug capacity, as well as the expansion of the existing yard, a new workshop, a new terminal auto gate, modernised offices and state-of-the-art technology. These investments have enhanced efficiency, strengthened service delivery and reinforced WACT’s role as an important gateway for trade beyond Lagos.
By Aduragbemi Omiyale
A new member has joined the board of Unilever Nigeria Plc, and she is Mrs Modupe Femi-Okunbanjo, who was appointed as an executive director of the organisation.
Her appointment, according to a statement from the company, is effective June 30, 2026. It followed the resignation of Mr Ibrahim Sodipe as an executive director of the firm with effect from June 30, 2026.
Mr Sodipe was praised for his valuable service and significant contributions to the entity, particularly in driving improved turnover and profitability and supporting Unilever Nigeria’s continued progress towards sustainable and profitable growth.
Mrs Femi-Okunbanjo was described as an accomplished finance and governance leader who, for more than 15 years, has steered finance teams, shaped strategy, and strengthened risk management frameworks in the fast-moving consumer goods and telecommunications sectors.
She is currently the Financial Controller of Nigeria and Regional Controls Lead for West Africa at Unilever Nigeria, where she oversees financial governance, regulatory compliance, and enterprise risk management.
Her work has been pivotal in embedding ethical leadership and data-driven decision-making at board level, while ensuring organisations remain resilient in the face of shifting market dynamics.
The new board member has established a reputation for elevating financial reporting, advancing audit excellence, and strengthening governance frameworks, thereby positioning organisations for sustainable growth and long-term value creation.
In her previous roles, she has a consistent track record of delivering margin expansion, enhancing governance & control environments, and leading transformation in challenging macroeconomic conditions.
She is equally committed to developing future talent and advancing financial literacy among younger generations.
Prior to her joining Unilever Nigeria Plc in 2018, Mrs Femi-Okunbanjo held key roles at UAC of Nigeria Plc, Helios Towers Nigeria, and Makasa Sun Nigeria Limited, where she pioneered control frameworks from the ground up, eliminating revenue leakages, digitising operations and embedding financial discipline.
A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Member of the Chartered Institute of Management Accountants (CIMA), she holds a Bachelor’s degree in Accounting from Lagos State University and an MBA with Specialisation in Strategy from the Edinburgh Business School, Heriot-Watt University, UK.
By Aduragbemi Omiyale
The chief operating officer of Chemical and Allied Products (CAP) Plc, Mr Jethro Iruobe, has been appointed as an executive director.
A statement from the organisation disclosed that the appointment is effective June 25, 2026.
In his new role, Mr Iruobe will participate in the formulation and execution of the company’s strategic priorities, provide executive leadership across critical functions, and contribute to its continued growth, sustainability and success.
The new board member joined the firm in 2019 as Head of Human Resources before growing to become the COO, with responsibility for Human Resources, Corporate Communications, Administration, Fleet and Commercial Excellence.
He has over 19 years of experience across a range of industries, including financial services, consulting, FMCG and manufacturing, having begun his career in banking before kicking off his HR career at KPMG and going on to hold senior roles at Promasidor Nigeria, Coca-Cola HBC and TGI Nigeria.
Throughout his career, he has supported organisations in building high-performing teams and driving sustainable business growth.
Beyond his corporate responsibilities, he is a columnist with Business Day Newspaper, a trained relationship counsellor and co-author, and a recipient of awards in both the human resources profession and other platforms.
Mr Iruobe holds a Bachelor’s degree in Mathematics and Economics from the University of Benin and a Master of Business Administration (MBA) from the Manchester Business School, United Kingdom. He is a certified Project Management Professional (PMP) and also holds the Global Professional in Human Resources (GPHR) certification awarded by the Human Resource Certification Institute.
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