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FBN Insurance makes new board appointments

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Nigeria’s life insurer, FBN Insurance Limited., has announced the appointment of Dr Femi Oyetunji, as its chairman and Alhaji Mohammed Borodo, as an independent non-executive director.

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

The last 10 years was spent as the group managing director and 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 where he graduated with first class in Statistics and Operational Research; a Master of Science degree from the University of London; and a PhD from the University of Manchester, Institute of Science & Technology, England; and Fellow of the Institute of Actuaries, United Kingdom, Institute of Directors, Nigeria, and Association of Pension Funds of Nigeria.

The statement said he served on the board of Crusader Sterling Pensions Limited and Tangerine Life Insurance and acted as president of the Investment Advisers and Portfolio Managers, and had a stint with Nigerian Insurance Association as the vice-chairman.

He has served in insurance companies in Nigeria including, Crusader Insurance Nigeria Plc as managing director and chief executive officer; and AIICO Insurance Plc as general manager, Life Operations Division.

Prior to his appointment as the managing director of Continental Reinsurance Plc, he served as the managing director and chief actuary of Alexander Forbes Consulting Actuaries Nigeria Limited.

According to the statement, Borodo, the new independent non-executive director was the pioneer company secretary of FBN Holdings Plc 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.

He holds a law degree from the Ahmadu Bello University, Zaria;  Barrister at Law from the Nigerian Law School, Nigeria; and a master’s in law degree from the University of Essex, United Kingdom.

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




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