AIICO Insurance Plc has rewarded its shareholders with a dividend payout of N4.39 billion, while also unveiling a refreshed board structure aimed at strengthening strategic oversight and fostering long-term value creation.
Dividend Approval and Shareholder Confidence
At the company's 2026 Annual General Meeting held in Lagos over the weekend, shareholders approved a dividend of 12 kobo per share, totaling N4.39 billion. This move reflects growing investor confidence in the insurer's performance and growth trajectory.
Leadership Transition and Board Appointments
The meeting also marked a significant leadership transition with the appointment of three new non-executive directors and the emergence of a new chairman. The newly appointed directors are Tunde Mabawunku, a financial services professional with extensive experience in banking, strategy, digital finance, and governance, and Sadiq Mohammed, an investment management and pension industry veteran with over three decades of experience.
Stakeholders ratified the appointment of Olalekan Akinyemi as Chairman of the Board, succeeding Kundan Sainani. Akinyemi, founder and CEO of LEKOIL Nigeria Limited, brings over 30 years of experience in the global energy sector, capital raising, corporate strategy, and business transformation.
Management Commentary on Governance and Value Creation
Speaking on the outcome of the AGM, the Managing Director and CEO of AIICO Insurance, Babatunde Fajemirokun, expressed appreciation to shareholders for their continued support and confidence in the company's strategic direction. Fajemirokun noted that the board appointments reflect the company's commitment to strong governance, effective oversight, and sustainable value creation.
“The strengthening of the board reflects a deliberate commitment to robust governance, disciplined oversight, and long-term value creation. With the depth of experience and diversity now represented at the board level, we are well-positioned to enhance the quality of decision-making and sustain leadership in the market,” he said.
