June 11, (THEWILL) — Shareholders of AIICO Insurance Plc have approved the payment of a dividend of 12 kobo per share, amounting to N4.4 billion, as the insurer continues to strengthen its governance structure and deliver value to investors.
The approval was granted at the company’s Annual General Meeting (AGM) held in Lagos, where shareholders also endorsed key board appointments aimed at enhancing strategic oversight and driving the company’s growth agenda.
AIICO announced the appointment of three accomplished professionals as Non-Executive Directors.
They include Tunde Mabawonku, who brings more than two decades of experience spanning banking, finance, strategy, and corporate services, with particular expertise in digital and retail financial services.
Also appointed is Rolake Akinkugbe-Filani, whose extensive background covers capital markets, energy finance, and risk governance.
She has built a distinguished career working across multiple jurisdictions and advising on complex financial and investment matters.
Joining the board as an Independent Non-Executive Director is Sadiq Mohammed, a seasoned business leader with over 30 years of experience in asset management, pensions, infrastructure, and investment advisory.
He also brings significant boardroom expertise gained from serving on the boards of several organisations.
In a further move to strengthen corporate governance, the company announced the appointment of Olalekan Akinyanmi as Chairman of the Board.
He succeeds Kundan Sainani, who has completed his tenure after providing leadership and strategic direction to the company.
Speaking at the AGM, Managing Director and Chief Executive Officer of AIICO Insurance, Babatunde Fajemirokun, expressed appreciation to shareholders for their continued confidence in the company.
“We are grateful to our shareholders and investors for their continued confidence and support. Their trust remains a strong validation of our strategic direction and the progress we are making as a business,” he said.
The dividend payout and board changes reflect AIICO’s commitment to delivering sustainable growth, strengthening governance, and creating long-term value for shareholders.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
