FBN Insurance announces board appointments

FBNInsurance Limited has announced the appointment of Dr. Femi Oyetunji as Chairman and Mohammed Borodo as an Independent Non-Executive Director.

Oyetunji has over 30 years of extensive industry experience with fiscal, strategic, operational and transformational leadership.

A statement by the insurer, said Oyetunji’s last 10 years was spent as the Group Managing Director/Chief Executive Officer of Continental Reinsurance Plc, where he served before his retirement in 2021.

Oyetunji holds a Bachelor of Science degree from Victoria University of Manchester, United Kingdom (UK) where he graduated with First Class in Statistics and Operational Research.

He also holds a Master of Science degree (MSc) from the University of London, a Ph.D. from the University of Manchester; Institute of Science and Technology, England; Fellow of the Institute of Actuaries, UK; Institute of Directors, Nigeria (IOD) and Association of Pension Funds of Nigeria.

He has served on the Board of Crusader Sterling Pensions Limited and Tangerine Life Insurance and acted as President of the Investment Advisers and Portfolio Managers (IAPM) and also had a stint with Nigerian Insurance Association (NIA) as the Vice-Chairman.

Oyetunji has served in leading insurance companies in Nigeria, including: Crusader Insurance Nigeria Plc., as Managing Director/Chief Executive Officer, and AIICO Insurance Plc as General Manager, Life Operations Division.

Prior to his appointment as the Managing Director/CEO of Continental Reinsurance Plc, he served as the Managing Director/Chief Actuary of Alexander Forbes Consulting Actuaries Nigeria Limited.

Similarly, Borodo, the new Independent Non-Executive Director was the pioneer Company Secretary of FBN Holdings Plc (FBN Holdings), who oversaw the process of admitting FBN Holdings to the Premium Board of the Nigerian Stock Exchange in 2015 and retired from FBN Holdings in October 2017 after a successful career spanning over 29 years with the group.

Borodo holds a law degree from the Ahmadu Bello University, Zaria, a B.L (Barrister at Law) from the Nigerian Law School and a Master of Law (LLM) degree from the University of Essex, UK.

He is a fellow, IOD, the Society for Corporate Governance Nigeria and the Institute of Chartered Secretaries and Administrators, Nigeria.