Fortis Global Insurance Appoints Ufuoma Ibru, Umar Faruk to Board

By Aduragbemi Omiyale

The board of Fortis Global Insurance Plc has been strengthened with two new additions, with Mr Umar Faruk Umar appointed as an independent non-executive director and Mr Ufuoma Ibru as a non-executive director.

A statement signed by the company secretary, Ms Halima Jimada, disclosed that the appointments followed the approval of the National Insurance Commission (NAICOM), an agency that regulates the insurance sector in Nigeria.

The board expressed optimism that the new directors will bring their wealth of experience to bear in driving the growth and expansion of the business, and that the company will be further strengthened by their valuable contributions.

Mr Umar is an accomplished educationist, public servant and corporate director with over 40 years of professional experience, including over 30 years of board and corporate governance experience.

He holds a PhD in Educational Psychology from the University of Wisconsin, USA. He has also undertaken executive education and corporate governance programmes at Harvard University, Stanford University and INSEAD.

He has held senior positions in the public and private sectors and previously served on the boards of Ashaka Cement Plc, CCNN Plc and NAHCO Plc, where he chaired and served on various board committees, including Audit, Risk Management, Governance, Finance and Establishment.

He currently serves on the Boards of GTL Registrars Limited and the Nigerian Capital Market Development Fund. His extensive experience in corporate governance, risk management, finance and strategic oversight will bring significant value to the Board in his capacity as an independent non-executive director.

On his part, Mr Ibru is a legal practitioner and an experienced non-executive director with extensive professional and board experience in the hospitality, tourism and financial services sectors. He has served on the boards of Ikeja Hotel Plc, The Tourist Company of Nigeria Plc and Icon Stockbrokers Limited.

He holds a Bachelor of Law from the University of Oxford, and was called to the Nigerian Bar in 2003. He also holds a Bachelor of Engineering in Mechatronic Engineering from the University of London.

Mr Ibru has significant experience in corporate governance, strategic management, legal and regulatory matters, investment transactions and stakeholder engagement.

He brings to the board a strong combination of legal, commercial and corporate governance expertise, which will support the effective discharge of his responsibilities as a non-executive director.