Mutual Benefits Assurance appoints Ashiru-Mobolaji as Managing Director of its life business subsidiary

Key highlights

  • Mr. Adebiyi Ashiru-Mobolaji appointed as the Managing Director/CEO Mutual Benefits Life Assurance Limited, the Life business subsidiary of the company
  • Mr. Joseph Oladokun has been appointed as the Executive Director, Technical.
  • Alhaji Lateef Akande Bakare and Mrs. Wunmi Eniola-Jegede joins the board as an Independent Non-Executive Directors

Mutual Benefits Assurance Plc has announced that it has appointed Mr. Adebiyi Ashiru-Mobolaji as the Managing Director of its life business subsidiary, Mutual Benefits Life Assurance Limited.

The Group also appointed Mr. Joseph Oladokun, Alhaji Lateef Akande Bakare, and Mrs. Wunmi Eniola-Jegede as Executive Director and Non-executive Directors, respectively.

This appointments announcement was contained in the company’s notice to the Nigerian Exchange Limited and the investing public, as seen by NewsTimes.

According to the statement, the appointments are subject to required regulatory approvals.

Profile of Ashiru-Mobolaji

Mr. Adebiyi Ashiru-Mobolaji, as the Executive Director, Operations oversaw the Technical & Marketing and Distribution Channels of the Company.

He is an insurance graduate with a master’s in Business Administration from Lagos State University. He is also an Associate member of the Chartered Insurance Institute of Nigeria as well as an Alumnus of the Lagos Business School.

An astute goal getter and a dynamic insurance practitioner, Mr. Ashiru-Mobolaji joined Mutual Benefits Assurance Plc in 1998 and rose through the ranks. In 2007, he became Senior Manager, Micro Insurance, after a comprehensive training with International Cooperative and Mutual Insurance Federation (ICMIF) in Manchester, UK. In 2009, he was seconded to Cameroun as GM/CEO of the Cameroun subsidiary Assurances Generales du Cameroun.

He returned to Nigeria in 2012 and became the Deputy General Manager Business Development before being appointed Executive Director, Operation in April 2017.

Profile of Joseph Oladokun

Mr. Joseph Oladokun until his appointment was the General Manager Technical. He holds a bachelor’s degree (Honours) in Geography from University of Ibadan where he graduated top of his class to clinch the Departmental Award of his set.

He has a master’s degree in Business Administration (Marketing) from Ladoke Akintola University of Technology, Ogbomoso. Joseph is an Associate of the Chartered Insurance Institute of Nigeria (CIIN) and the National Institute of Marketing of Nigeria (NIMN).

He is also a Fellow, the Institute of Management Consultants. Joseph began his career in Insurance with Leadway Assurance Company Limited, where he honed his skills in Underwriting, Claims Management and Special Risks aspects of General Business Insurance. He served in various capacities over a period of 10 years introducing several initiatives that served the company well. Before joining Mutual Benefits Assurance Plc in 2014, Joseph was Head of Technical for about five years at Fin Insurance Company Limited.

Profile of Alhaji Akande Bakare

Alhaji Lateef Akande Bakare is a chartered accountant with over 45 years post qualification experience. He retired in 1991 as the Quality Assurance Partner at Deloitte.

He’s Founder and Managing Partner at Lateef Bakare & Co and Adetona, Bakare & Co respectively, both firms of accountants and insolvency practitioners.

He has both private and public sector experiences having served in various capacities in professional practice and director of several private and public companies including First Bank of Nigeria Limited. He joins the board as an Independent Non-Executive Director with rich experience in Financial Assurance, Auditing, Taxation, Business, and process re-engineering.

Profile of Mrs Eniola-Jegede

Mrs. Wunmi Eniola-Jegede is currently the Executive Director, Business Development, Strategic Planning, & Human Resources of SIFAX Group. Her competencies include Business Development, Strategic Planning, Project Management, Business Strategy, and Organizational Development.

She has a distinction in MBA from Keller Graduate School of Management Houston, a Certificate in Business Management, from Houston College, and a BA(Hons) in English. She brings with her to the Board her wealth of experience garnered in both public and private sectors in Nigeria and the USA. She joins the board as a NonExecutive Director.

What you should know

Mutual Benefits Assurance is listed on the Nigerian Stock Exchange (NGX) since May 28th, 2002. Mutual Benefits is traded on the NGX under the ticker symbol “MBENEFIT”. Mutual Benefits Assurance is currently the 78th most valuable stock on the NGX with a market capitalization of N 6.62 billion.

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