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CP Urges Collective Security Efforts in Anambra State

By Chikaodi Chukwuleta
The Commissioner of Police Anambra State, CP Ikioye Orutugu, has emphasised the importance of collective security efforts in Anambra State.
Speaking at the 2025 Christmas Carol of Nine Lessons and End-of-Year Party, he highlighted the theme “Policing: A Shared Responsibility”, stressing that security is a collective effort requiring collaboration between the police, government, community leaders, and citizens.
He commended the police command’s efforts in improving security through intelligence-led policing and community engagement, despite challenges. CP Orutugu recognised the bravery of Inspector Okoma Ewa, Corporal Chawalamoke Godsfavour, and Constable Emekwisore Ifeanyi, awarding them commendations for exceptional service.
The Commissioner urged residents to remain vigilant and supportive of security efforts, reporting suspicious activities to the police.
He assured intensified patrols and surveillance across the state, covering strategic locations, worship centres, markets, and highways.
CP Orutugu stressed the need for unity, cooperation, and peaceful coexistence, wishing everyone a Merry Christmas and a prosperous New Year
A lagacy of Kindness: late Lady Ezinne Eunice Nwabugwu Ibe’s Family Feeds 1,050  Awgu Families. 

By Chikaodi Chukwuleta
Emperor Chris Baywood Ibe and
 family honored his late mother, Lady Ezinne Eunice Nwabugwu Ibe, by feeding 1,050 families in Awgu, Enugu State, instead of hosting a traditional lavish funeral, the family distributed bags of rice, gallons of cooking oil, and cartons of seasoning cubes to 50 vulnerable families in each of the 21 communities in Awgu Local Government Area.
This act of kindness was a testament to Lady Ezinne Eunice Nwabugwu Ibe’s legacy of generosity and compassion. She was a renowned Anglican lay reader, music lover, and community philanthropist, affectionately known as “Black Indigo” (Apunanwu). Born in 1935, she passed away at 90, leaving behind eight children, 32 grandchildren, and nine great-grandchildren.
The event was attended by dignitaries, including five Anglican bishops, governors, and other notable figures, who paid tribute to the late matriarch. Emperor Baywood Ibe announced that the family would donate a two-storey guest house to the Anglican Church in Isu-Awaa, Awgu, as part of their commitment to continuing her legacy.
Beneficiaries expressed heartfelt gratitude, describing the gesture as a timely relief amid rising living costs.
 The event became a celebration of life, love, and legacy, showcasing the power of giving and community upliftment.
Enugu State Govt Proves Ownership Of Abuja Property

LarryBravo Nwaiwu
The Enugu State Government has asserted its ownership of a disputed plot of land located at Cadastal Zone B03, Wuye District, Abuja, saying the disputant, Simonis Ventures Nigeria Limited, had no valid claim or interest in the said property.
The government accused Simonis of a failed attempt to fraudulently acquire Plot 804 in the said Wuye District measuring about 1.04 hectres through fraudulent transfer of ownership, insisting that the property had not changed ownership since it was first allocated to Enugu State.
It explained that investigations by both the police and the Economic and Financial Crimes Commission (EFCC) had since established the Enugu State Government as the rightful owners of the said property.
The assertions were made by the General Manager (GM), Enugu State Housing Development Corporation, Dr. Gerald Asogwa, at a press conference in Abuja on Sunday, during which he also exhibited all the documents claimed.
According to Asogwa, the initial (first) application for a plot of land in the Federal Capital Territory was made by the Enugu State Government during the administration of Dr. Okwesilieze Nwodo in 1992, a request that was granted on January 14, 1993.
The government, however, explained that “the allocation was erroneously issued in the name of Enugu State Property Development Corporation, instead of Enugu State Government or Enugu State Housing Development Corporation.” It, therefore, wondered how a non-legal personality could have been transferred to Simonis Ventures Nigeria Limited.
“There has never existed any parastatal, corporation, or company known as Enugu State Property Development Corporation at the time of allocation or thereafter. The named allottee therefore lacked legal personality and contractual capacity ab initio.
“Yet in 2002, the said non-existent entity purportedly transferred the land to Simonis Ventures Nigeria Limited using a fake and fraudulent Irrevocable Power of Attorney dated 25/02/2002, suspiciously witnessed in 2005.
“But the said Power of Attorney was not sealed, had no Governor’s consent as required by law, was not co-signed by any government official, and
failed to disclose the name or designation of any lawful executor. The document was clearly concocted to deceive authorities and is attached as Exhibit 3,” Asogwa declared.
He explained that upon discovery of the said anomaly, the Enugu State Government applied to the Abuja Geographic Information System (AGIS)/FCT Authorities for correction, following which “the wrongful allocation was cancelled, and Plot 804, Wuye, was re-allocated to Enugu State Government as the rightful owner.
“The Right of Occupancy, Certificate of Occupancy, and all requisite building approvals were subsequently obtained in the name of Enugu State Government, and development commenced before the unlawful destruction carried out by agents of Simonis Ventures Nigeria Limited,” he stated.
Asogwa, however, said that the police’ were unable to prosecute those behind the faking of the Power of Attorney, “as the purported directors were discovered to be ghost identities and frustrating prosecution,” noting that the addresses were equally nonexistent.
He also faulted the attempt by Simonis to dress its directors in the images Senator Ayogu Eze’s family members, more so as the late senator had averred that the land belonged to Enugu State Government.
“In 2015, the EFCC Abuja investigated the matter. The late Senator Ayogu Eze was identified as the person who received the Certificate of Occupancy on behalf of Enugu State Government. He categorically stated that the land belonged to Enugu State Government and that he never claimed ownership,” he stated.
On the court order paraded by Simonis Limited, Asogwa stated that “at no time was any court order served on, submitted to, or delivered to Enugu State Government, Enugu State Housing Development Corporation, or any person, authority, or entity representing Enugu State Government.”
The government accused Simonis of abuse of court process, wondering why a court order purportedly obtained in 2016 only surfaced in 2025 after the demise of Senator Eze.
“In November 2025, Simonis Ventures Nigeria Limited resurfaced and filed an action at the Gwagwalada High Court seeking to enforce a 2016 order.
“The original 2016 order contained only one paragraph, yet the enforcement application fraudulently expanded it to two paragraphs, introducing reliefs that never existed.
“This constitutes a clear abuse of court process and fraud. The resurrection of the suit followed the death of Senator Ayogu Eze.
“Corporate records of the Corporate Affairs Commission (CAC) show that ghost directors were replaced with family members of the deceased. The status report is attached as Exhibit 9,” it explained.
Enugu State Government insisted that the said court order was “fundamentally defective.”
“The alleged order is fundamentally defective because: no court process was served on Enugu State Government or its agencies, the State became aware of the matter only days after judgment, enforcement was attempted through self-help without court bailiffs, no pre-action notice was served, the 2016 order relied upon was not certified as required by the Evidence Act (Exhibit 11), the proof of service relied upon was false and forged (Exhibit 12). Indeed, the order was obtained by fraud and is liable to be set aside,” the GM declared.
It accused Simonis and its partner, Zoe New Dawn, and one Stephen Achama. of criminal conduct and public deception, including attack on Enugu State’s site workers, destruction of property as well as fraudulent marketing of the said property as though it belonged to them.
The government asserted that the land was currently being developed as Woodlands Estate by Tout Moi Nigeria Limited under a valid and subsisting contractual arrangement for Enugu State Government, warning that anyone transacting with Simonis Limited, Zoe New Dawn, and Achama in respect of the said plot does so at his or her own risk.
Asogwa added that contrary to the claims by a representative of Simonis in the media, Enugu State Government, not Simonis Limited, carried out all the physical development of the said plot.
“These purported sales are illegal, void, and of no legal effect, as Simonis Ventures Nigeria Limited has no valid interest in the land and no right whatsoever to alienate, assign, sell, transfer, or otherwise deal with the property,” he concluded.
Onome Odili Pledges To Reposition NIMN Ikeja Chapter

New excos take oath of office amidst funfair
 
By Winifred Bosa
The newly elected Chairperson of the National Institute of Marketing of Nigeria (NIMN) Ikeja Chapter has stated that her vision is to position the Ikeja Chapter as the most active, influential, and professionally rewarding chapter in the Institute.
She stated this during the NIMN Ikeja Chapter Executive Committee (EXCO) inauguration and End–of–the–Year Party held recently at the Business Club, Alausa, Lagos.
Inaugurated along with her into the new executive committee were Vice Chairman, Nana Milagrosa Utomi A. Biyang, General Secretary, Oyolola Rasheed Adeniyi, Assistant Secretary, Roseline Abaraonye, Treasurer, Birhiray Eric, Financial Secretary, Adekemi Olurin-Alegbeleye, Public Relations Officer, Stephen Okoh, and Welfare Secretary, Omoyele Oguntade.
According to her, “Our vision is simple but powerful: To position the Ikeja Chapter as the most active, influential, and professionally rewarding chapter in the entire Institute, and we will focus on: People — empowering our members with development, mentorship, and community, Profession — elevating marketing practice through learning, collaboration, and excellence, and Presence — strengthening our chapter’s visibility, participation, and industry engagement,” she added.
The elated Odili, who spoke excitedly to the members of the institute, said, “This year alone, we have begun to sow the seeds of growth — from participation in multi-sectoral initiatives like the Breast Cancer Awareness Walk, to strengthening internal structures, to generating genuine interest from new members. And this is only the beginning.”
“As we inaugurate the new EXCO today, I ask for your support, your feedback, and your partnership. Leadership is not a solo act; it is a collective journey. Together, we will build a chapter we can be proud of — a chapter that reflects the true spirit of marketing: innovation, connection, and impact,” she added.
In furtherance of the excellent work done by her predecessors, she stated that the inauguration was a celebration of continuity, commitment, and community.
It is a moment where we honour the journey behind us, appreciate the present, and embrace the future that lies ahead for our Chapter.
First, she said, “I would like to extend heartfelt appreciation to the outgoing Executive Committee for their dedication and service. Every season of leadership leaves its imprint, and you have contributed to the foundation we stand on today. Thank you for your sacrifice, your passion, and the countless hours invested in this chapter.”
The new chapter chairman also extended the same felicitations to the members of the institute. “To our members — thank you. Thank you for your loyalty, your ideas, your participation, and your unwavering belief that the Ikeja Chapter can remain a vibrant centre of professional excellence. Without you, there is no chapter.”
“Tonight marks the beginning of a clear mandate: to lift the NIMN Ikeja Chapter into a new era of vibrancy, innovation, visibility, and member value. We step into this role with humility, but also with confidence — confidence rooted not in titles, but in service, teamwork, and shared purpose,” she added.
The inauguration was attended by the President of NMN, Dr. Balojoko Bola-Ajayi, former President of NIMN, Mr. Tony Agemonmen, Registrar/CE of NIMN, Mrs. Thelma Okoh, and the immediate past chairman of NIMN Ikeja Chapter, Dr. Kehinde Joda, among other distinguished fellows of the institute.
Fidelity Bank Advances Sustainable Firefighting Practices With Donation Of Hoses And Water Pumps

 

Amaka Obiefuna

 

 

Fidelity Bank Plc has reinforced its commitment to community safety and sustainable ecological practices through the donation of essential firefighting and preventive equipment including hoses and gasoline water pumps to the Ikoyi Fire Service Station in Lagos.

 

The donation was made under the Fidelity Helping Hands Program (FHHP) by the True Serve team, reaffirming the Bank’s commitment to the environment and community safety. Through the FHHP, members of staff identify areas of critical community needs, raise funds, and then receive matching monetary support from the bank to execute the projects.

 

Commenting on the reason behind the donation, Divisional Head, Brand and Communications Division, Fidelity Bank Plc, Dr Meksley Nwagboh, emphasized that the donation reflects the bank’s dedication to strengthening emergency response capabilities and promoting public safety within the communities it serves.

 

According to him, “Fidelity Bank remains committed to supporting initiatives that contribute to the protection of our environment, lives and property. We see community safety as a shared responsibility and continuously extend support to both corporate bodies and individuals.”

 

Dr Nwagboh further noted that, “We believe that preventive measures are far more effective than reactionary responses. This donation is part of our efforts to drive sustainable practices by providing the necessary tools. Our goal is to ensure that people live meaningful, safe, and empowered lives.”

 

In her comments, Lagos State Controller, Federal Fire Service and Controller of Fire (CF), Funke Adebayo commended Fidelity Bank for the timely support, while cautioning residents to exercise heightened vigilance during the festive period, especially with the dry weather conditions.

 

“We appreciate Fidelity Bank for this timely donation. We are in a harsh weather period where fire incidents can escalate quickly. Parents must educate and caution children against the use of fireworks during celebrations. Fire should never be treated carelessly,” Adebayo said.

 

She noted that the Fire Service has embarked on sensitization visits to various corporate organizations, warning against unsafe practices that could lead to preventable fire outbreaks.

 

On his part, Area Commander, Onikan Fire Station and Chief Superintendent of Fire (CSF)Oswere Michael expressed appreciation to Fidelity Bank for supporting their operations. He encouraged families, business owners, and community members to prioritize fire safety at all times.

 

“Everyone has a role to play in preventing fire incidents at home and in the workplace. This support from Fidelity Bank will go a long way in enhancing our capacity to protect the community,” CSF Oswere added.

 

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

 

The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Shareholders Back Guinea Insurance Plc’s Capital Raise Plan At Extraordinary General Meeting

L–R: Mrs. Chioma Okigbo, Non-Executive Director, Mrs. Ogonna Offor-Orabueze, Executive Director, Technical, Mr. Ademola Abidogun, Managing Director and Chief Executive Officer, Mr. Temitope Borishade, Chairman of the Board of Directors, Mrs. Chinenye Nwankwo, Company Secretary, Mr. Pius Edobor, Executive Director, Finance and Corporate Services

Guinea Insurance Plc has reached a significant milestone in its transformation journey, as shareholders approved the Board’s capital raise plan at a recent Extraordinary General Meeting held virtually in Lagos.

The meeting, conducted in full compliance with the Business Facilitation (Miscellaneous Provisions) Act 2022 and the Companies and Allied Matters Act (CAMA) 2020, saw strong participation from shareholders, regulators, and key stakeholders, reflecting broad confidence in the company’s strategic direction.

Following resolutions passed at its Extraordinary General Meeting (EGM), Guinea Insurance Plc is advancing a comprehensive recapitalisation programme designed to strengthen its financial foundation and position the Company for sustainable growth.

Shareholders approved the increase of the Company’s minimum issued share capital from ₦4.0 billion (8 billion ordinary shares of 50 kobo each) to ₦19.0 billion (38 billion ordinary shares of 50 kobo each), alongside a plan to raise up to ₦15.0 billion in additional equity through a combination of Rights Issue and Private Placement.

L–R: Mr. Ademola Abidogun, Managing Director and Chief Executive Officer, Mrs. Ogonna Offor-Orabueze, Executive Director, Technical, Mrs. Chioma Okigbo, Non-Executive Director, Mr. Temitope Borishade, Chairman of the Board of Directors, Mrs. Chinenye Nwankwo, Company Secretary, Mr. Pius Edobor, Executive Director, Finance and Corporate Services

This follows the receipt of a No-Objection approval from the National Insurance Commission (NAICOM), reflecting regulatory confidence in the Board’s strategy and providing a clear pathway to reinforce the Company’s capital base.

Beyond balance sheet strength, the expanded capital structure is deliberately designed to provide the financial headroom required to stimulate targeted investments in technology, data driven underwriting, digital distribution and service automation.

These investments will support operational efficiency, faster turnaround times and more personalised customer engagement, reinforcing the Company’s ability to deliver consistent and rewarding experiences across all stakeholder touchpoints.

Speaking at the Extraordinary General Meeting, the Chairman of the Board, Mr. Temitope Borishade, described the shareholders’ approval of the recapitalisation plan as a pivotal milestone in Guinea Insurance Plc’s transformation journey.

He emphasised that the capital raise would strengthen the Company’s balance sheet, restore its statutory capital position, enhance underwriting capacity, and support long-term strategic growth initiatives.

L–R: Mr. Ademola Abidogun, Managing Director and Chief Executive Officer, Mr. Temitope Borishade, Chairman of the Board of Directors, Mrs. Chinenye Nwankwo, Company Secretary, Mr. Pius Edobor, Executive Director, Finance and Corporate Services.

“The overwhelming support of our shareholders reflects their confidence in the Board and Management’s strategy to rebuild Guinea Insurance Plc into a stronger, more resilient, and more competitive insurer,” Mr. Borishade said. “This recapitalisation plan is not only a regulatory requirement but also a strategic opportunity to create sustainable value for all our stakeholders.”

The Board further reaffirmed its commitment to transparency, robust governance, and the prudent deployment of the capital to be raised, working closely with regulators and professional advisers.

This initiative underscores a strategic dedication to building a resilient, forward-looking insurer capable of meeting the expectations of policyholders, investors, regulators, and partners, while supporting broader economic activity and delivering sustainable returns to shareholders.

Following the successful approval of all resolutions, the Company will now proceed with the required regulatory filings and implementation steps to execute the Rights Issue and Private Placement.

Creative & Branding Icons Award Honours Industry Trailblazers

With the industry navigating rapid change and evolving consumer expectations, the Vice President, Strategy and Innovation at Chain Reactions Africa, Mr. Franklin Ozekhome, urged brand leaders to embrace purpose, adaptability, and consistency as the pillars for building brands that stand the test of time.

Ozekhome, delivered a thought-provoking keynote address at the Creative and Branding Icons Awards (CBIA), organized by Marketing Space Magazine, tagged: ‘Unveiling greatness: Celebrating the 2025 creative & branding icons, held in Lagos, challenged industry leaders, practitioners and creatives to rethink how brands are built in a rapidly transforming world.

His central message was clear and compelling: iconic brands are not created by budgets, awards or fleeting visibility, but by time, meaning and consistency.

Opening his address, Mr. Franklin framed the conversation around one powerful lens, time, titled: “Beyond creativity: building timeless brands in a transforming world.”

In an industry driven by deadlines, campaign calendars, quarterly results and real-time trends, he reminded the audience that time remains the ultimate judge of relevance and impact.

While thousands of campaigns are launched every year, only a handful endure. Likewise, countless brands enter the market, but only a few evolve into symbols that live across generations.
“What truly makes something iconic?” he asked.

“Is it creativity, visibility, awards, money or followers?” According to him, the answer lies deeper. An icon is not the result of a single campaign or viral moment, nor is it merely a success story. Icons are built by three enduring forces: meaning, memory and momentum.

Ozekhome explained that iconic brands stand for something larger than themselves.

They live in people’s memories, not just their awareness, and they retain relevance even as culture, technology and society evolve. This, he said, applies not only to brands, but also to people, movements, cities and nations.

Reflecting on Nigeria’s advertising and marketing ecosystem, he noted how certain names, colours, slogans, sounds and rituals instantly come alive in collective memory. This is no accident, he emphasized, but the product of time and consistent meaning.

He challenged the audience to look beyond surface visibility and ask deeper questions about who the real icons in the industry are, the brands on billboards, or the people and teams who quietly reshape thinking, language and culture.

While visibility is often celebrated, Ozekhome argued that true icons are those who change how people think, decide, feel and live.

They include strategists who redefine how categories understand consumers, creative leaders who shape the language of a generation, brands that alter self-perception, and movements that shift societal conversations.

This, he said, is why platforms like the Creative and Branding Icons Awards matter. Beyond ceremony, they serve as a mirror for the industry, prompting honest reflection on impact and legacy.

Tracing the evolution of Nigeria’s creative and marketing landscape over the past two decades, Mr. Franklin described a dramatic transformation.

From the rise of mobile phones and social media to the explosion of user-generated content, shrinking attention spans and the early influence of artificial intelligence, the industry has moved into an era where creativity alone is no longer sufficient.

Consumer expectations have changed. Trust has evolved. A catchy slogan or one-off stunt is no longer enough.

According to Ozekhome, this reality makes the theme “Beyond Creativity: Building Timeless Brands in a Transforming World” especially relevant.

He clarified that going beyond creativity does not diminish its importance. Creativity remains the spark, but it must operate within a broader system of culture, experience, behavior and long-term value.

Timeless brands, he noted, are not those that remain static, but those that preserve their essence while adapting their expression across generations.

Drawing on global and local examples, he illustrated how iconic brands build meaning and memory over time. These brands do not chase every trend; instead, they innovate from the inside out, staying true to their core while evolving with culture.

From this foundation, Ozekhome, outlined what he described as the seven laws of iconic brands, emphasizing belief systems, cultural openness, memory structures, community building, depth of meaning and intentional innovation.

Across industries and geographies, he said, these principles consistently define brands that endure.

For brands, his message was firm: iconic status cannot be bought or rushed. It requires insight, cultural alignment and disciplined execution over time. For agencies, the moment demands a shift from content production to cultural architecture — helping brands build systems of meaning that last.

Addressing practitioners directly, Ozekhome highlighted that beyond technical skill, what truly sets professionals apart is their point of view — the ability to read culture, understand human behavior and translate insight into action.

Looking ahead to the next 10 to 20 years, he identified accelerating cultural change, deeper integration of technology, fragmented trust and increased pressure on time as defining forces.

In this environment, timeless brands will be those that respect heritage while designing for the future, maintaining a strong center while remaining flexible at the edges.

He call for a fundamental shift in mindset — from campaign thinking to continuum thinking, from short-term visibility to long-term value. Brands, he said, must earn the right to endure by telling the truth, respecting consumers and contributing meaningfully to culture.

Describing his keynote as more than a speech, Ozekhome framed it as a manifesto for the future of Nigeria’s creative and branding industry. “Icons are not accidents,” he said.

“They are the result of intention plus time.”
As the audience rose in applause, his final charge resonated strongly: build brands worthy of time, create stories that future generations will recognize, and do work that not only wins the awards, but also earns the respect of time.

In her remarks, the Chief Executive Officer, Marketing Space Magazine, Lukman Ishau, said the event marked a deliberate shift from celebrating brands alone to recognising the individuals whose creativity, strategy, and innovation give life to those brands.

He described the award as a platform created to honour the creatives, strategists, innovators, and brand custodians who work behind the scenes to shape enduring narratives and influence culture.

He emphasised that the initiative represents more than an award ceremony, describing it as a declaration of purpose and a commitment to elevating excellence within the industry.

The occasion also marked a significant milestone for Marketing Space Magazine, reaffirming its longstanding dedication to strengthening the marketing communications ecosystem through industry-focused initiatives beyond reportage.

The ceremony concluded on a reflective note with a tribute to the late Mr. John Tolupe Ajayi, Publisher of Marketing Edge, whose mentorship and contributions to brand journalism were acknowledged. The event ended with a call for continued collaboration in nurturing a vibrant, innovative, and future-ready creative and branding industry in Nigeria.

Alpha Morgan Bank Supports Iganmode Cultural Festival , Celebrates Awori Heritage

By Winifred Bosa
Alpha Morgan Bank was among the major sponsors of the recently held Iganmode Cultural Festival (Odun Omo Iganmode) in Sango-Otta, an event that celebrated the rich cultural heritage, history, and identity of the Awori people of Ota.
The festival, a significant annual cultural gathering in the ancient town of Ota, came alive with a vibrant display of tradition, music, dance, colourful regalia, and performances that reflected the deep-rooted customs of the Awori people.
Following the recent launch of Alpha Morgan Bank’s Sango-Ota branch, the event sponsorship further underscores the Bank’s commitment to supporting local initiatives, preserving culture, and promoting community development in Ota.
The ceremony attracted an impressive lineup of distinguished guests, including former President of Nigeria, His Excellency Chief Olusegun Obasanjo; the Deputy Governor of Ogun State, Engr. (Mrs.) Noimot Salako-Oyedele and the Olota of Ota, His majesty Prof Adeyemi Obalanlege, alongside several other traditional rulers and members of royal households from across Ogun State.
 Their presence further underscored the cultural and historical importance of the festival to the people of the state.
Alpha Morgan Bank’s participation as a major sponsor highlights its commitment to supporting initiatives that strengthen community values and promote Nigeria’s cultural heritage.
 The Bank joined thousands of attendees in celebrating a festival that has continued to serve as a symbol of unity, pride, and continuity for the people of Ota.
The 2025 edition of the Iganmode Festival was widely regarded as a success, leaving participants and guests with lasting impressions of a colourful, well-coordinated celebration that honoured tradition while fostering communal harmony.
Agusto & Co. Assigns Universal Insurance Plc “Bbb-” Ratings With Stable Outlook

 

Agusto & Co. Assigns Universal Insurance Plc "Bbb-" Ratings with Stable  Outlook - Business Today NGAgusto & Co. has assigned a “Bbb-” long-term rating to Universal Insurance Plc, reflecting the company’s long operating history, improved profitability, low loss ratio, moderate liquidity position and effective deployment of digital initiatives.

 

The rating agency noted that Universal Insurance ability to maintain a solvency margin of 184.9 per cent, well above Agusto & Co.’s minimum threshold of 100 per cent, indicates a strong capacity to support its underwriting activities.

 

The strong growth according to Agusto was driven by initiatives aimed at deepening relationships with customers and insurance brokers, alongside improvements in customer experience through digital platforms.

 

It noted that as at 31 December 2024, Universal Insurance’s shareholders’ funds stood at N13.2 billion, representing a 27 per cent year-on-year increase, supported by full profit retention.

 

The company maintained a sound insurance revenue of N13.8 billion, representing a 71.9 per cent increase from the prior year.

 

The company’s reinsurance arrangements were tested in 2024 amid a spike in claims from the oil and gas segment. Gross claims more than doubled to N3.6 billion, but reinsurance recoveries reduced net claims by 48 per cent to N2.3 billion. As a result, the average loss ratio improved by 220 basis points to 14.7 per cent, significantly better than the 33.1 per cent industry average.

 

It noted that the company’s investment portfolio grew by 14.5 per cent to N10.5 billion at the end of 2024.

 

Operating cash flow strengthened significantly in 2024, rising 98.4 per cent to N3.1 billion, supported by higher premium collections and reinsurance recoveries. This covered liabilities for incurred claims 1.5 times, outperforming the industry average. However, liquidity metrics remained broadly stable due to an increase in estimated claims liabilities.

 

Improved underwriting performance and favourable portfolio valuations helped drive profit before tax to N2.1 billion, up sharply from N526.7 million in 2023. Pre-tax return on assets and equity improved to 11.4 per cent and 17.4 per cent, respectively, although both remained below industry averages. Claims payments in early 2025 moderated performance, but expected reinsurance recoveries are projected to support a rebound in profitability for the full year.

 

Based on these factors, Agusto & Co. assigned a stable outlook to Universal Insurance Plc’s ratings, reflecting expectations that improved underwriting discipline, successful capital raising and enhanced digital capabilities will support the company’s financial profile over the medium term.

 

Commenting, Dr. Jeff Duru, Managing Director/ CEO of Universal Insurance Plc, said “We acknowledge the recent “Bbb-” credit rating assigned to our company. It is indeed a reflection of hard work and the current macroeconomic environment and the ongoing investments we are making to support long-term growth and resilience.

 

“We are fully focused on strengthening our balance sheet, improving operating efficiency, and executing initiatives that we believe will enhance the metrics of our credit standing over time. Management remains committed to maintaining transparent communication with our stakeholders and to delivering sustainable value for shareholders including customers and employees.”

 

About Universal Insurance Plc

 

Universal Insurance Plc was established in 1961 by the then Eastern Nigeria Government as an agent of Pearl Assurance Company of London.
The Insurer has evolved into a non-life risk underwriter with
1 6 branches operating across all geopolitical zones of Nigeria.
Universal Insurance Plc is fully computerized to drive excellence in service delivery, Customer – oriented products, and a prime company that is poised to be a giant in risk bearing.

Consolidated Hallmark Holdings GCEO Receives NAIPE Award For Impactful Service To Insurance Industry


L-r: Samson Abiodun, Group Chief Internal Auditor, Consolidated Hallmark Holdings Plc; Dotun Adeogun, Managing Director, Hallmark HMO; Eddie A Efekoha, Group CEO, Consolidated Hallmark Holdings Plc; Nkechi Naeche Esezobor, Chairman, Nigerian Association of Insurance and Pension Editors (NAIPE); Babatunde Daramola
Group CFO, Consolidated Hallmark Holdings Plc, and Idechi Amucheazi, Managing Director, Hallmark Finance Company Ltd, during the presentation Mr. Efekoha, ‘NAIPE Award of Appreciation for his Outstanding contribution to the Insurance and Pension sectors as well as the Nigerian Media industry’ in Lagos on Monday 15/12/2025.
The Group Chief Executive Officer (GCEO) of Consolidated Hallmark Holdings (CHH) Plc, Mr. Eddie Efekoha, has been honoured with a prestigious award by the Nigerian Association of Insurance and Pension Editors (NAIPE) in recognition of his outstanding contributions to the insurance industry.
The award plaque was handed over to him by NAIPE Team at his company’s head office in Obanikoro, Lagos recently, took place recently and Efekoha was commended for his tireless efforts in promoting peace and harmonious relationships among various groups in the industry, including the media.
In his remarks, Efekoha expressed gratitude to NAIPE for the recognition, stating that, it was a testament to the hard work and dedication of his team at Consolidated Hallmark Holdings. He emphasised the importance of occassional compromise and sacrifice in creating a sane industry, and reiterated his commitment to supporting the growth and development of insurance sector.
The Chairperson of NAIPE, Mrs. Nkechi Naeche-Esezobor, praised Efekoha’s achievement, saying that, his support and partnership with the media had been invaluable. “His contributions have encouraged us to continue supporting the industry while maintaining ethical reporting,” she said.
Efekoha’s award is a testament to his impressive track record in the industry. As the former President of the Chartered Insurance Institute of Nigeria (CIIN) and former Chairman of the Nigerian Insurers Association (NIA), he has played a significant role in shaping the industry’s landscape.
Under his leadership, Consolidated Hallmark Holdings has grown from scratch to become a holding structure with about four subsidiaries. His leadership roles in bringing insurance journalists under one platform (NAIPE) during the earlier crisis where some aggrieved members pulled out and created a new group, as well as piloting the company to success have not gone unnoticed.
The Chairman of the 2025 NAIPE Annual Conference, Mr. Roland Okoro, highlighted Efekoha’s achievements, saying that he had demonstrated exceptional leadership and a commitment to the growth of the industry.
The award is a well-deserved recognition of Efekoha’s contributions to the insurance industry, and it is expected to inspire him to continue making a positive impact in the sector.