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Lagos Has Settled N2bn in Workers Insurance Premium—Commissioner

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Insurance Premium

By Adedapo Adesanya

The Lagos State Government has paid over N2 billion as insurance premium for its workers in 2021, the Commissioner for Finance, Mr Rabiu Olowo, has disclosed.

Mr Olowo made this disclosure at the Lagos State Insurance Week which kicked off on Monday, August 23.

He said the state has over 73,000 employees on its database and they were covered under life insurance.

“I can affirm to you that this year alone, we have paid over N2 billion in insurance premium to cover life and non-life insurance. That speaks to the importance of insurance.

“The Lagos State Government over the years has continued to insure its staff with regular payment of premium to cater for them during service, and also payment of the death benefits by the insurance companies to deceased beneficiaries,” he said.

The Commissioner said insurance was one of the ways the state government managed risk in the state, hence, it was not an issue of optionality.

“Insurance is compulsory in Lagos State for life and non-life insurance asset because that is one of the ways we manage a lot of risks.

“We have seen the benefits of engaging in insurance activities, during the COVID-19 pandemic and the civil unrest in Lagos,” Mr Olowo said.

The Commissioner said it was for this reason that the government had identified the need for more sensitisation and education on insurance, hence, the planned maiden edition of the Lagos State Insurance Week.

According to him, the four-day insurance week, slated for August 23 to August 26, will educate participants on the ways civil servants and the entire populace can key into the abundant opportunities in insurance.

“We have seen government property assets destroyed and in some cases injuries to our staff and associates

“We have enjoyed the real essence and value proposition of insurance, and the best we can do is to further our commitment to ensuring that our insurance activities are more strengthened.

“That is why we are doing this sensitisation and advocacy and we can see that it pays to pay insurance premiums and we will continue to do so into the future,” Mr Olowo added.

He noted that there was a need to institute the culture of insurance consciousness among government officials and the citizenry as a whole.

Mr Olowo said that the public should know that insurance is the way through which an individual or organisation protect themselves against unfortunate incidents of life, including death.

He maintained that having appropriate insurance cover could not be overemphasised, being the acceptable practice across the globe.

The Commissioner said the Babajide Sanwo-Olu led administration was already setting the pace in the area of insurance, hence, it was expected that residents also embrace the initiative by taking necessary insurance cover that suits them.

He explained that doing so would help to lessen heavy responsibilities on disasters on government.

“In other words, the cases of calling on government at all times for compensation over some natural disasters or unfortunate incidences can become a thing of the past if we have necessary insurance cover for ourselves, businesses and property.

“By this, the resources at the disposal of government can be channelled towards other developmental projects, instead of paying compensations that ordinarily could have been undertaken by insurance companies,” he said.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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UAC Foods Elevates CFO Temitope Omodele to CEO

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Temitope Omodele

By Adedapo Adesanya

Nigerian fast-moving consumer goods (FMCG) powerhouse, UAC Foods Limited, has promoted its Chief Financial Officer, Mrs Temitope Omodele, to the position of chief executive.

The company, a subsidiary of UAC of Nigeria Plc (UACN), officially made the announcement on its official LinkedIn page.

The ex-KPMG executive has a big task ahead of her, particularly with UAC Foods now a N340 billion revenue company buoyed by its recent acquisition of CHI Limited. With the new appointment, the company positions the seasoned finance executive as the driving force to further increase the value of brands like Gala Sausage Roll, Supreme Ice Cream, Swan Natural Spring Water, and Funtime Chips.

In its announcement, UAC Foods described the appointment as “an exciting new chapter,” affirming that Mrs Omodele will continue to “drive operational excellence, innovation, sustainable growth and long-term

Mrs Omodele began her career at KPMG Professional Services, where she rose through the ranks, from Senior Associate to Senior Manager, providing audit and assurance services across Nigeria’s financial services, FMCG, power and utilities, and energy and natural resources sectors.

Her time at KPMG was marked by an unusual distinction where she was seconded to the Department of Professional Practice at KPMG Inc. South Africa, gaining cross-border exposure to international standards and methodologies.

Following her return to Nigeria, she helped found the Department of Professional Practice for KPMG Professional Services Nigeria.

She joined the UAC of Nigeria Plc group in September 2020, initially as Technical Accounting and Reporting Lead and quickly advanced to Senior Vice President of Finance, with oversight of group-wide finance operations and reporting for the holding company. In this role, she served as a Non-Executive Director on the Board of Livestock Feeds Plc, a fellow UACN subsidiary.

She was then promoted to the role of Chief Financial Officer at UAC Foods Limited, expanding her operating-company exposure particularly around brand strategy, supply chain economics, and P&L accountability.

Mrs Omodele holds a Bachelor of Science in Accounting from the University of Lagos, supplemented by an Executive MBA from Lagos Business School at Pan-Atlantic University. She further completed Executive Education in data analytics and emerging technologies at the W. P. Carey School of Business, Arizona State University.

She is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Fellow of the Association of Chartered Certified Accountants (ACCA).

Originally established as the United African Company in 1879, the company has evolved into one of Nigeria’s oldest and firmest companies. The UAC Foods unit was formally constituted in 2010 through a joint venture with Tiger Brands, the South African packaged food giant. In 2021, UACN acquired Tiger Brands’ minority stake, assuming full ownership and with it, full strategic responsibility for the subsidiary’s future.

The company is best known for its flagship Gala Sausage Roll, which has led Nigeria’s sausage roll market for over 60 years, alongside other popular brands including Supreme Ice Cream, Swan Natural Spring Water, and Funtime Chips.

In 2025, UACN’s consolidated revenue surged further to N340.47 billion, bolstered by the landmark acquisition of CHI Limited (the maker of Chivita juice and Hollandia dairy products), though profitability came under pressure from elevated financing costs tied to that acquisition.

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Tinubu Okays Recruitment of 1,000 Forest Guards in Oyo

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Forest Guards

By Aduragbemi Omiyale

President Bola Tinubu has approved the recruitment of 1,000 forest guards in Oyo State in collaboration with the state government.

This was disclosed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, in a statement on Sunday.

The recruitment follows a visit to Esiele and Yawota communities in Oriire Local Government Area of Oyo State by a high-powered federal government delegation on Sunday, May 31, 2026.

The team, led by the President’s Chief of Staff, Mr Femi Gbajabiamila, was in the local council following the abduction of pupils and teachers from Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School on May 15, 2026.

Residents of the communities were promised the safe return of the victims. They were also informed that their request for the establishment of a military base in the area would be conveyed to the President for consideration and approval.

In addition, Mr Tinubu has directed a specialised security unit with advanced rescue capabilities to intensify efforts to secure the release of the abducted pupils and teachers.

Mr Gbajabiamila, while addressing residents in both English and Yoruba, said the President’s decision to dispatch the nation’s top security leadership to the affected communities reflected his determination to deploy every available resource towards securing the victims’ release.

“Mr President is deeply troubled by this incident. Whatever it takes, our children and teachers will be brought back home safely. He has issued all necessary directives and is providing every support required by our security agencies to achieve that objective.

“Your pain and anxiety are understood. By the grace of God, your children will return safely to your arms.

“Mr President also saw the appeals from some parents and community members urging caution in the rescue efforts. Let me assure you that the operation will be intelligence-led and carefully coordinated, deploying both kinetic and non-kinetic measures to secure the safe return of the victims,” he said.

The delegation was also at the palace of the Soun of Ogbomoso land, Mr Ghandi Afolabi Olaoye, to commiserate with him and his people. The group also met with the wife of the deceased school teacher, Mrs Mary Oyedokun, and her two children.

Other members of the team were the National Security Adviser, Mr Nuhu Ribadu; the Inspector-General of Police, Mr Tunji Disu; the Minister of Defence, Mr Christopher Musa; and the Special Adviser to the President on Media and Public Communications, Mr Sunday Dare.

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NCC Appoints Funke Opeke, ipNX’s Olusola Teniola to IPv6 Board

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olusola teniola ipNX

By Modupe Gbadeyanka

The duo of Mr Olusola Teniola and Ms Funke Opeke are now on the newly inaugurated Internet Protocol version 6 (IPv6) council board of the Nigerian Communications Commission (NCC).

The team was constituted as part of a broader industry effort to accelerate Nigeria’s transition to IPv6.

It has Mr Muhammed Rudman as Chairman, Mr Chris Uwaje as Vice Chairman, and Ms Mary Uduma, Mr Gbenga Adebayo, Mr Lanre Ajayi, and Mr Latif Ladid as members.

At the inauguration in Ikeja, Lagos, NCC said it created the group as part of its renewed commitment to accelerating Nigeria’s transition to IPv6, a critical enabler of the country’s digital future.

Speaking on his appointment, Mr Teniola, a director at ipNX, expressed appreciation to the NCC for the opportunity to serve and reiterated the importance of collaborative action in driving Nigeria’s digital transformation.

“The transition to IPv6 is no longer a future consideration; it is an immediate priority for Nigeria’s digital economy. As data consumption grows and emerging technologies such as 5G, IoT, and AI become more pervasive, we must ensure that our underlying infrastructure is scalable, secure, and globally competitive,” he said.

He further emphasised that achieving meaningful IPv6 adoption will require strong alignment across stakeholders, including telecom operators, internet service providers, enterprises, academia, and government.

“This is a collective responsibility. We must invest in capacity building, drive awareness, and create the right policy and regulatory environment to accelerate adoption. Nigeria cannot afford to lag in an increasingly connected world,” he added.

The IPv6 Council Board has been tasked with developing and overseeing the implementation of a national IPv6 strategy, monitoring progress, and providing periodic updates on adoption levels across the country.

The team will also play a key role in addressing infrastructure challenges, strengthening technical expertise, and recommending policy incentives to support nationwide deployment.

Mr Teniola’s appointment reflects ipNX’s continued commitment to shaping Nigeria’s digital ecosystem and advancing the development of resilient, future-ready network infrastructure across the country.

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