FBN Insurance Announces Board Appointment

Nigeria’s leading life insurer, FBNInsurance Ltd., has announced the appointment of Dr. Femi Oyetunji as its Chairman and Alhaji Mohammed Borodo as an Independent Non-Executive Director.

Dr. 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/CEO of Continental Reinsurance Plc where Oyentunji served before his retirement in 2021.

Dr. 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 [MSC] from the University of London, and a Ph.D. from the University of Manchester, Institute of Science & Technology, England and Fellow of the Institute of Actuaries, United Kingdom, Institute of Directors, Nigeria [IOD], and Association of Pension Funds of Nigeria.

The industry giant 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 had a stint with Nigerian Insurance Association [NIA] as the Vice-Chairman. Dr. Oyetunji, has served in leading Insurance Companies in Nigeria including, Crusader Insurance Nigeria Plc. as Managing Director/CEO 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.

In the same development, Alhaji 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, Nigeria and a master’s in law degree from the University of Essex, United Kingdom. He is a Fellow, Institute of Directors, Nigeria, the Society for Corporate Governance Nigeria; and the Institute of Chartered Secretaries and Administrators, Nigeria.

Borodo is a Member, International Bar Association, Nigerian Bar Association, and an Honorary Senior Member, Chartered Institute of Bankers of Nigeria. In October 2017, he was given a lifetime achievement award for his contributions to the legal profession in Nigeria by the Esq Magazine. In January 2018, Borodo was appointed a member of the Technical Committee that drafted the Financial Reporting Council’s Nigerian Code of Corporate Governance 2018. He is currently the Principal Partner of Tijjani M. Borodo & Associates, a top tier law firm with offices at Lagos and Abuja.

FBNInsurance is a Limited Liability Company licensed to transact Life Insurance business in Nigeria, providing cover for Individual and corporate clients with strong presence in almost every state in the country. FBNInsurance is also a member of the Sanlam Group, a leading diversified, pan-African financial

services group. Leveraging the strength of the Sanlam Group brand, FBNInsurance is strategically positioned to transform the insurance industry in Nigeria. The company has won several awards including, Best Life Insurance Company in Nigeria by World Finance 2014, 2016, 2017, 2019 & 2020; Best Insurance Company in Africa by the African Insurance Awards, 2018; Fastest Growing Insurance Company by the National Association of Insurance and Pension Correspondents, 2018; Augusto & Co. A+ rating in 2016 & 2018 and Certified as a Great Place to Work, Medium-Sized Organization 2019.

Dr. Femi Oyetunji, Chairman of the Board FBNInsurance Limited

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September 2nd, 2022

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