African Alliance Insurance appoints Olabisi Adekola as MD/CEO


By Kayode Tokede

African Alliance Insurance Plc has announced the exit of Mrs. Funmilayo Omo from the Board and Management of the Company effective from 31st August 2020.

Mrs. Omo was appointed as the Managing Director/CEO of the Company in March, 2017. Prior to her appointment as MD/CEO, she diligently served as the Executive Director, Operations, charged with over-seeing and supervising an eighty-man team comprising three departments.

A passionate, strategic, and transformational leader, she elegantly combined her wealth of experience and passion for innovation in her role as the first female CEO of the Company. This led to the Company’s first corporate rebranding exercise in over 5 decades of its existence and successfully cemented its position as a top player in the Nigerian insurance industry.

A true visionary with a penchant for excellence and the understanding that the success of an organization depends largely upon the quality and dedication of its workforce. She was thoroughly invested in the professional and personal development of her team and exhibited a stellar work ethic that positively impacted the Company.

On behalf of the Board, Management and Shareholders of the Company, we wish to thank her for her dedication, commitment and sheer tenacity in driving the Company towards the achievement of its goals and objectives.

Following Mrs. Omo’s exit, the Board is pleased to announce the appointment of Mrs. Olabisi Adekola as the Ag. Managing Director/CEO of the Company effective 1st September, 2020 pending the appointment of a substantive Managing Director/CEO.

Adekola is a financial analyst, investment manager and proven business continuity leader with over twenty-five years’ experience in financial management, internal audit and accounting. She began her career at Nigerian Hoechst in the mid-90s before joining African Alliance in 1997 as Assistant Superintendent in the Finance department. She rose through the ranks across various Finance/Audit functions to head the Finance department as an Assistant General Manager; Finance and Investment) in 2010. She was promoted to the position of Executive Director; Finance in 2012 capping a brilliant lateral growth in the Company.

Adekola holds an MBA in Financial Management from the Lagos State University and is a Fellow of both the Institute of Chartered Accountants of Nigeria (FCA) and Association of Investment Advisors and Portfolio Managers (FIAPM); an Associate Member of the Chartered Institute of Taxation of Nigeria (ACTI), Nigerian Institute of Management and Business Continuity Professional, Disaster Recovery International. A brilliant mind, Adekola is an alumnus of the Lagos Business School.