Wapic Insurance Appoints Ufoeze, Three Others As Directors




FOLLOWING the divestment by Access Bank Plc from Wapic Insurance Plc, Wapic Insurance Thursday notified the Nigeria Stock Exchange of the appointment of four new Directors into its board.

This is contained in statement to the NSE that it appointed the following: Chizoba Ufoeze – non- executive director, Folusho Alliyu, Bode Ojeniyi and Femi Obaleke as executive directors respectively.

Ufoeze, who graduated from the University of Nigeria Nsukka, with B.Sc. in Urban & Regional Planning and obtained her M.Sc. in Investment Management from the City University Business School, London. She also has an MBA from the Middlesex University Business, London.

She is an Investment Analyst with over 22 years’ experience in the financial services industry.

Ufoeze began her career as a Research Assistant with African Development Consulting Group and an Investment Officer with African Development Bank. She also worked with BGL Limited as an Investment Analyst and then as the Head of Investments of the Wealth Management Group.

She was the CEO of United Alliance Company of Nigeria Limited prior to this appointment. Her appointment was effective January 16, 2014 and will be presented before the Shareholders at the Company’s next Annual General Meeting (AGM) for approval as required by the Company’s Articles of Association.

Alliyu holds a Bachelor of Science degree in Insurance from the University of Lagos. He is an Associate member of the Chartered Insurance Institute of U.K with over 20 years’ experience in Insurance Underwriting/Claims both in Nigeria and Internationally. Prior to joining Wapic Insurance Plc, Alliyu was the Chief Underwriting Officer/General Manager at Custodian & Allied Insurance Plc.

His appointment has been approved by NAICOM is effective March 6, 2013

While Ojeniyi holds a B.Sc. and M.Sc. in Agric. Economics from the University of Ibadan. He also has an MBA in Strategic Management as well as in Finance from Ogun State University and Edinburgh Business School, Heriot-Watt University, U.K respectively.

He has over 22 years’ experience in the banking industry (Access Bank Plc and EcoBank Nig. Plc). Prior to joining Wapic Insurance Plc, Ojeniyi was the Head, Business Banking Southwest Region at Access Bank Plc. His appointment which is effective January 16, 2014 has been communicated to the National Insurance Commission for approval.

While Obaleke holds a B.Ed. from the University of Ibadan and an MBA from Abubakar Tafawa Balewa University, Zaria. He has over 22 years work experience in the banking industry. Prior to joining Wapic Insurance Plc, Obaleke was the Group Head, Business Banking at Access Bank Plc. His appointment which is effective January 16, 2014 is awaiting the approval of NAICOM.

Meanwhile three non-executive directors resigned from its board as a result of the divestment of Access bank from the insurance company.

The outgoing non-executive directors had represented the Bank’s interest on the board of the insurance company. The directors are Taukeme Koroye, Ojini Olaghere and Victor Etuokwu.

The board of Wapic Insurance announced the resignation Titilayo Osuntoki, a non-executive independent director of the company following her appointment as an executive director of Access Bank.

Wapic said all the resignations were accepted with effect from January 16, 2014.


By Oluwakayode David

Previous articleInsurers trail behind PFAs, as 84097 retirees take programme withdrawal, 8479 annuity
Next articleFor the love of Mother Imani
When a team of top flight media practitioners -- journalists, marketers, sales directors; indeed, the entire mix -- met on January 5, 2014, to review media practice in Nigeria, a conclusion became ineluctable: We must stop identifying the weaknesses of the items on offer and give Nigerians the real deal. The Morning Mail was thus born, to give the country a newspaper that is truly committed to the highest ideals of journalism. It is yet an evolving newspaper, but it is currently being piloted by Oluyinka Olujimi (LL.M UCLan, L.B., B.L.) as Publisher/CEO; respected ace cartoonist and administrator, Moses Ebong, as Executive Director (Brands and Marketing); and veteran political editor, Akinjide Akintola (Managing Editor), among others.

Leave a Reply