AIICO Insurance Plc has appointed three new directors to its board following regulatory approval, marking a strategic move to enhance corporate governance and long-term oversight in Nigeria’s evolving insurance landscape. The appointments, confirmed in a statement on May 25, 2026, include Mr. Sadiq Mohammed as Independent Non-Executive Director, alongside Mr. Tunde Mabawonku and Mrs. Rolake Akinkugbe-Filani as Non-Executive Directors. These additions are expected to strengthen AIICO’s strategic direction, investment oversight, and resilience amid increasing competition and regulatory demands in the financial services sector.
Sadiq Mohammed brings over 30 years of experience in financial markets, asset management, infrastructure, and alternative investments. As the founder and CEO of Hexium Investments, he has led major projects including the Lekki Concession Company and Lakowe Lakes Golf and Country Estate. His tenure at ARM Group spanned 28 years, where he served as Deputy Group Chief Executive Officer and Managing Director of ARM Pension Managers, contributing to the growth of Nigeria’s pension and infrastructure finance ecosystems.
Tunde Mabawonku, Executive Director of Finance, Retail, and Digital Business at Wema Bank Plc, joins with more than 25 years of banking expertise. His career includes key roles at Prudent Bank and Skye Bank, now Polaris Bank, where he held positions as Chief Finance and Strategy Officer. His deep knowledge of digital banking, investor relations, corporate sustainability, and human capital management is expected to support AIICO’s digital transformation and financial resilience.
Rolake Akinkugbe-Filani, founding Managing Director and CEO of EnergyInc Advisors, brings nearly two decades of experience in financial services, energy, development finance, and investment advisory. She has held senior positions at Zenith Bank Plc, FBNQuest Merchant Bank, Ecobank Group, and Mixta Africa, offering valuable insights into capital markets and strategic investment. Her expertise aligns with AIICO’s focus on expanding into new financial frontiers and improving risk governance.
The appointments reflect AIICO’s commitment to building a diverse and experienced board capable of navigating Nigeria’s complex financial environment. As the insurance industry faces growing pressure from digital innovation, capital efficiency, and regulatory compliance, these new directors are expected to play a critical role in shaping AIICO’s future. Their combined expertise in banking, infrastructure, energy, and corporate strategy positions the company for sustainable growth in a competitive market. With these leadership enhancements, AIICO is poised to reinforce its position as a leading insurer in Nigeria’s financial services sector.
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