Jobs/Appointments
NGX Group Reorganises Board, Picks Umaru Kwairanga as Chairman
By Aduragbemi Omiyale
The board of the Nigerian Exchange (NGX) Group Plc has been rejigged for better performance and efficiency, with the appointment of Mr Umaru Kwairanga as the new chairman.
Mr Kwairanga was appointed to the position at a board of directors meeting on Wednesday, October 5, 2022, in Lagos.
He will replace Mr Abimbola Ogunbanjo, who announced his retirement as chairman of the organisation at the 61st Annual General Meeting (AGM) of the group last month.
After his announcement, a non-executive director of NGX Group, Mr Ikpobe Apollos, was elected as the acting chairman on Friday, September 30, 2022 before Kwairanga was picked for the job yesterday.
In his acceptance speech, Mr Kwairanga resolved to work assiduously with his colleagues on the board to immediately stabilise relationships with all key stakeholders and set the group on the path to a brighter future.
“I am very excited to lead the execution of our corporate strategy and deliver world-class governance to the group. I appreciate the board for the confidence in my abilities to deliver on our mandate for the shareholders of NGX Group.
“I would like to thank our erstwhile Chairman, Mr Abimbola Ogunbanjo and our outgoing acting chairman, Mr Apollos Ikpobe, for their outstanding and diligent service to the company, and I promise to continue to deliver in line with their set standard of execution and delivery,” he said.
The Group Managing Director/Chief Executive Officer of NGX Group, Mr Oscar Onyema, described the appointment of Mr Kwairanga as a positive step in the group’s journey to delivering value to shareholders.
“As we move to execute our strategy aimed at maximising outcomes for our shareholders, we would count on Dr Kwairanga’s wealth of experience in making strategic board decisions,” he stated.
Also, Mr Ikpobe, who retired from the board effective September 5, 2022, appreciated the board’s cooperation during his tenure as a director and his appointment as acting chairman.
“The past year as a director on this noble board allowed me to contribute to the transformation process of NGX Group actively. I trust that the board will continue to lead innovations in the Nigerian capital market as a values-driven organisation,” he said.
Mr Kwairanga, a thoroughbred capital market professional with an excellent corporate governance pedigree, has 30 years of experience in banking, pensions, manufacturing and commercial sectors.
He served previously as a council member of the defunct Nigerian Stock Exchange (NSE) and as a member of the board of NGX Group. He is currently a council member of the Institute of Directors of Nigeria and an active director of multiple listed and unlisted companies.
Meanwhile, in keeping with good governance ethos, and to ensure continuity as well as institute an orderly succession plan for the organisation, the board has created the position of Vice Chairman and appointed Mr Oluwole Adeosun, a non-executive director of NGX Group and current President of the Chartered Institute of Stockbrokers (CIS), to fill this position.
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.
By Adedapo Adesanya
Heirs Life Assurance, a specialist life insurance company owned by Nigerian business mogul, Mr Tony Elumelu, has appointed Pastor Jerry Eze as an Independent Non-Executive Director on its Board, effective August 10, 2026.
The appointment reinforces Heirs Life Assurance’s commitment to expanding financial inclusion and accelerating insurance adoption by strengthening public trust, consumer education, and long-term financial resilience across Nigeria.
Nigeria, despite being Africa’s largest economy, continues to record insurance penetration of less than one per cent, ranking among the lowest globally and underscoring the need to deepen financial protection and strengthen public confidence in insurance. As Heirs Life advances its goal of making insurance more accessible to Nigerians, the appointment of the preacher is expected to bring valuable insight in community engagement, values-driven leadership and initiatives with wider social impact.
Pastor Jerry Eze is the Founder and Lead Pastor of Streams of Joy International Ministry, a growing multinational ministry with 34 branches across West Africa, Southern Africa, Europe and North America. He is also the convener of the New Season Prophetic Prayers and Declaration (NSPPD), one of the world’s largest digital prayer platforms, reaching millions of people daily. Through his ministry and humanitarian initiatives, he is regarded as one of Africa’s most influential voices, championing hope, compassion, and community transformation.
Beyond ministry, the clergyman is the Founder of the Jerry Eze Foundation, a faith-led philanthropy where he provides housing support and grants to vulnerable and underserved communities.
In 2026, he announced N1 billion in grants to support young entrepreneurs across agriculture, technology, and manufacturing, further advancing enterprise development and economic opportunity.
Before entering full-time ministry, Pastor Jerry Eze built a career in development communications, serving as a Communications Specialist on a World Bank HIV/AIDS programme and with the United Nations Population Fund (UNFPA). He holds a Bachelor’s degree in History and International Relations from Abia State University and a postgraduate degree in Business Administration from Enugu State University of Science and Technology.
Speaking about the appointment, Mr Elumelu, Chairman, Heirs Life Assurance, said, “Pastor Jerry brings an exceptional combination of integrity, influence, and a deep understanding of people and communities. As we continue our mission to democratise access to insurance, his insight will help strengthen consumer trust, deepen financial inclusion, and reinforce our commitment to protecting the financial future of millions of Nigerians. We are delighted to welcome him to the Board of Heirs Life Assurance and the broader family of Heirs Insurance Group.”
Commenting on his appointment, Pastor Jerry Eze said, “I am honoured to join the Board of Heirs Life Assurance at a defining moment for the insurance industry. Financial security empowers individuals, families, and businesses to pursue their aspirations with greater confidence and resilience. I look forward to working with the Board and Management to advance the company’s mission of making insurance more accessible, relevant, and impactful for every Nigerian.”
By Aduragbemi Omiyale
The conclusion of the 2025 Performance Appraisal Exercise of Abuja Electricity Distribution Company (AEDC) has resulted in the promotion and step increments of about 1,126 employees of the organisation.
The reward for performance involved the promotion of 547 employees and 579 step increments, reaffirming the company’s unwavering commitment to recognising excellence, rewarding performance and building one of Africa’s most admired workplaces.
AEDC disclosed that these actions reflect its deliberate investment in its people as the energy firm accelerates its transformation into a customer-centric, high-performing electricity distribution company with global standards and Pan-African aspirations.
The promotions and step increments, approved by the management, recognise employees who have demonstrated exceptional commitment, professionalism and outstanding performance in advancing AEDC’s strategic objectives.
However, employees who were not successful in the current appraisal cycle have been urged to remain committed, emphasising that the performance management process is designed to support continuous growth, capability development and future advancement opportunities.
“Our people remain our greatest asset and the foundation upon which AEDC’s future will be built. Today’s announcement is more than a reward for performance; it is a reaffirmation of our belief that excellence should always be recognised, talent should be nurtured and hard work should create opportunities for growth.
“As we continue our transformation journey, we are building an organisation where our employees can develop rewarding careers, realise their full potential and proudly contribute to creating one of Africa’s leading electricity distribution companies,” the chief executive of AEDC, Mr Chijioke Okwuokenye, stated.
He added that AEDC is intentionally creating a workplace where merit, continuous learning, innovation and collaboration drive career progression, while employee wellbeing remains central to its long-term strategy.
