‎The immediate past Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr. Olorundare Sunday Thomas, has commended the Nigerian Association of Insurance and Pension Editors (NAIPE) for honouring him with an Award of Excellence.
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‎Mr. Thomas was honoured by NAIPE with an Award of Excellence, for his contribution to the growth of the industry and his support for insurance journalists, during the Association’s 2025 National Conference with the theme “Strengthening Pension and Insurance Framework For A Better Economy,” held in Lagos recently.
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‎Expressing excitement for the award, Thomas who was the Chairman of the occasion, said he did what he did then in all sense of sincerity without anticipating any reward from any quarter, just as he promised to continue to do more for the good of the journalists and the industry as a whole.
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‎“All that I did then, I did them with all sense of sincerity because I knew it was necessary for me to do them. I was not doing them in anticipation of any reward. But today you people choose to honour me with an award. This is quite surprising and I am excited. On behalf of my family, I want to sincerely thank NAIPE for finding me worthy of this. I am not taking it lightly,” he said.
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‎Commending members of NAIPE for the award and for sustaining their reportage of the pension and insurance sectors, he said, “Some of us are fortunate to be around when they started, we know through thick and thin, they have been able to go this far, they have been able to impact on the two sectors, thereby providing relevant information to the stakeholders.
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‎“Apart from this award, I want to thank NAIPE for the good things they have been doing for the industry. As long as I am alive, I will continue to associate with the association, to ensure they continue to contribute their quota to the growth of the industry. Any time you call me, be rest assured that I will answer you.”
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‎On the Nigerian Insurance Industry Reform Act (NIIRA) 2025, recently signed into law by President Bola Ahmed Tinubu, Thomas said the Act if properly implemented, will take care of all stakeholders and revolutionise the nation’s insurance sector to contribute significantly to national growth.
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‎“Looking at where we are today, I want to congratulate the President, for signing the Nigerian Insurance Industry Reform Act (NIIRA) 2025 into law, whose journey started in 2008. NIIRA will transform and revolutionise the insurance sector. The extent the law will go, in terms of achievement, will depend on both the implementers and the industry, and the response to the content of that law will determine the extent of achievement. But one thing I am so sure of, is the fact that the platform has been set for its achievement, in terms of taking care of all the stakeholders: consumers are protected, shareholders are protected, and operators are protected.
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‎“Of course, strengthening the sector with the formalisation of Risk-Based Capital will go a long way, in which case, we don’t need to operate at the same level – be where you have capacity to be,” Thomas added.
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‎On how insurance and pension sectors can contribute to the achievement of President Tinubu’s one trillion dollar economy, the former NAICOM boss said, “There is no doubt that pension sector has asset under management of over N24 trillion, and insurance sector with an asset base of about N4.4 trillion.
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‎“I believe that we are in a good position to begin to look at the possibility and realisation of President Bola Ahmed Tinubu’s vision for having an economy with a one trillion dollar Gross Domestic Product (GDP).
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‎“I think we are on course, though we need to gain speed by 2030, which is five years from now. I believe that with these laws, and the people managing the sector, we will be able to take our rightful position in effectively contributing to President Tinubu’s vision.”

As part of activities commemorating Nigeria’s 65th Independence Anniversary, President Bola Ahmed Tinubu will on Wednesday, October 1, 2025, officially inaugurate the newly renovated National Arts Theatre, Iganmu, Lagos. The historic project, executed by the Central Bank of Nigeria (CBN) and the Bankers’ Committee as part of their commitment to giving back to the nation, marks a bold investment in Nigeria’s cultural heritage and creative future.

President Tinubu, who in July 2024 renamed the edifice the Wole Soyinka Centre for Culture and the Creative Arts in honour of the Nobel Laureate, will lead a distinguished gathering of state governors, members of the National Assembly, the diplomatic corps, captains of industry, academics, cultural ambassadors, and youth leaders.

In a joint statement, the CBN, the Bankers’ Committee, and the Federal Ministry of Arts, Culture and Creative Economy underscored the theatre’s reopening as both a celebration of Nigeria’s rich cultural legacy and a launchpad for its creative industries. While the renovation was financed and delivered by the CBN and the Bankers’ Committee, the Ministry’s partnership in programming, policy alignment, and stewardship of Nigeria’s cultural ecosystem ensures that the rejuvenated National Theatre will serve as a truly national asset.

The reopening will feature performances by the National Troupe and other leading artists, along with special remarks from Prof. Wole Soyinka. CBN Governor Olayemi Cardoso will deliver the welcome address, with goodwill messages from Lagos State Governor Babajide Sanwo-Olu and the Honourable Minister of Arts, Culture, Tourism, and Creative Economy, Hannatu Musawa.

Upgrades to the facility meet the highest global standards for theatre and performance. Key improvements include a completely overhauled HVAC system, enhanced fire safety measures, new electrical, water, and sewage systems, advanced audio-video-lighting technology, world-class stage engineering, 17 new passenger lifts, solar power integration, refurbished interiors and furniture, and the restoration of historic artworks across the façade and interiors.

Ahead of the inauguration, CBN Governor Olayemi Cardoso noted: “This is not just an edifice; it represents our history and culture. The transformation of this landmark into a world-class facility is a testament to the Nigerian spirit.”

Governor Sanwo-Olu added: “The Wole Soyinka Centre for Culture and the Creative Arts (National Theatre) will not only showcase arts, tourism, and culture, but will also serve as a world-class venue for global conferences and performances.”

Minister Hannatu Musawa described the project as “a gift to the nation and a source of pride. The successful renovation of the National Theatre marks a milestone in our collective effort to preserve cultural assets while creating new opportunities for the creative industry.”

Originally constructed under the Yakubu Gowon military regime and completed in 1976 under General Olusegun Obasanjo, the National Theatre famously hosted FESTAC ’77, the Second World Black and African Festival of Arts and Culture. With this transformation, it now stands ready to host the next era of Nigeria’s cultural and creative renaissance.

The chairman of NEM Insurance Plc, Mr. Tope Smart has appauded the Nigerian Association of Insurance and Pension Editors(NAIPE) for deeming him of deserving an Award of Excellence.

Tope Smart was one of the 5 Awardees of NAIPE Award of Excellence and Stewardship for the impact he made, not only in Nigeria but at the continental level as the past president of the African Insurance Organisation(AIO). Aside being the past group managing director/CEO.of NEM Insurance Plc, he was also the past chairman of the Nigerian Insurers Association (NIA), among others. In all these, Smart distinguished himself as exceptional operator and a friend and supporter of insurance journalists.

While receiving the award when the 2025 NAIPE Conference Committee members presented it to him. In his office in Obanikoro, Lagos at the weekend, Smart said, the accolade is a message for him to do more to ensure Insurance takes its rightful place in the national polity and discourse.

According to him, “I have a personal philosophy that what is worth doing is worth doing well. What shaped my perception was the derogatory image at which our Head of department in the University created about insurance companies in Nigeria then.

“He had highest regards for foreign insurers and disregard the local ones. From that moment, I decided that I must make a difference. So, when I joined the industry, I tried my best to be able to change the narrative.”

Referencing the NEM Building that has now become the face of Insurance on Ikorodu Road, he said; “the NEM building on Ikorodu road was built without any bank loan to the glory of God and it has become the envy of others.”

While apprecating every member of NAIPE, he said, he and the group have come a long way together.

“I run a business and I know it’s not easy to run a business. So, for you guys, especially, those who runs their media platforms, to be there with tenacity, despite all the struggles in the business operating environment, and still making a difference, it is commendable and I will continue to support your projects in a joint effort to develop insurance industty,” he pointed out.

On her part, the chairman of NAIPE, Mrs. Nkechi Naeche Esezobor appreciated the support and partnership of Mr. Tope Smart and his company, NEM Insurance over the years, saying, the group never took them for granted.

“This building(NEM Insurance) was what made many insurance companies to start making their building big. Every company coming in is looking at doing what NEM did because you have challenged them.

“Your efforts can never be in vain. As an association, we feel it is good to recognise people when they are alive. We appreciate what you have done for the industry and we felt we need to appreciate this feat in our 10th anniversary of organising our annual conference,” she noted.

Meanwhile, the chairman, 2025 NAIPE Annual Conference, Mr. Roland Okoro said, Mr. Tope Smart tick all the boxes when assessing the personalities to be awarded, calling on him not to rest on his oars towards deepening insurance acceptance, penetration and recognition.

The 2025 edition of the prestigious BusinessDay Top 25 CEOs Awards, held on September
25, 2025, recognized the exceptional leadership of Mrs. Ebelechukwu B. Nwachukwu,
Managing Director of Rex Insurance, as one of the top 25 CEOs of the year. The award
ceremony, which brought together influential executives and industry experts, celebrated
men and women who have demonstrated extraordinary leadership, innovation, and
impact within their industries.
Ebelechukwu B. Nwachukwu was honoured for her remarkable contributions to Rex
Insurance, where she has guided the company through a transformative period of growth.
Under her leadership, Rex Insurance has achieved significant milestones, including
market expansion, technological advancements, and corporate responsibility initiatives.
Her vision has set new standards for success in the insurance industry sector.
Reflecting on being named one of the distinguished awardees, Ebelechukwu
Nwachukwu shared, “This recognition is a true reflection of the dedication and hard work
of the entire Rex Insurance team. Together, we have built a solid foundation for continued
innovation and success and I am immensely proud of all that we have accomplished.”
She further added” this is very humbling and means a lot, being recognized as one of the
Top 25 CEOs in Nigeria. It is also a testament to the work Rex Insurance has done over the
past 3 years of transformation. We have transformed the oldest insurance company into
Rex Insurance, using technology, grooming the best people and making sure that our
customers feel the impact of all the work that we have done, so it very rewarding to the
recognized with this award”.
Under her leadership, Rex Insurance has achieved significant growth and positioned
itself as a prominent entity in the insurance industry sector. The acknowledgment as one
of the country’s Top 25 CEOs Awards underscores her critical role in guiding the
company’s success and shaping its future direction. Since assuming leadership in
January 2023, she has spearheaded a transformative rebranding process, repositioning
the company as a digital-first, customer-centric insurer.

Under her guidance, Rex Insurance commissioned a state-of-the-art head office in

Victoria Island, Lagos, reflecting its renewed commitment to innovation, employee well-
being and operational excellence.

Mrs. Nwachukwu has driven strategic initiatives including the development of climate-
based agricultural insurance products and inclusive retail offerings, enhancing market

reach and relevance. Her leadership has also emphasized timely claims settlement and
superior customer experience.
With a strong focus on profitability, she introduced the 2025 theme “Building Synergy and
Growth,” aligning stakeholders toward sustainable financial performance. A seasoned
executive with over two decades in insurance, she continues to champion digital
transformation and shareholder value creation in Nigeria’s evolving insurance landscape.
The award ceremony was also attended by key members of the Rex Insurance leadership
team, including the company’s Executive Director – Business Development, Mr. Sunny
Uwagboi; General Counsel/ Company Secretary, Shiela Ezeuko; Chief Financial Officer,
Abayomi Kayode; Emmanuel Ndoh – Head, Brands & Events and Wilson Okoh-Esene –
Head, Corporate Communications & Customer Experience. Their presence highlighted
the collective effort and dedication that has driven the company’s growth and success
under Ebelechukwu Nwachukwu’s leadership. Together, they continue to drive the
mission of innovation, excellence, and positive impact across the industry.
The Top 25 CEOs Awards brought together the world’s leading business figures,
celebrating individuals whose performance, foresight, and dedication have made a
lasting impact on their industries. This year, the ceremony was attended by a
distinguished group of executives, all united in recognizing the exceptional contributions
of the top CEOs.
About Rex Insurance Limited (Rex)
Rex Insurance Limited (Rex) is licensed by the National Insurance Commission (NAICOM)
to offer the full range of general and special risks insurance products to the insuring
public. With decades of experience in the Nigerian market, Rex Insurance has an enviable
reputation for technical competence and financial strength.

With a vision of being the “Preferred Nigerian Insurance Company”, our strategic direction
within the next 5 years is to focus on growth and profitability with the aim of growing the
company’s gross premium written and be amongst the Top-Top-Tier general insurance
companies in the market.
Operating from twelve (12) business locations nation-wide to ensure maximum outreach
and accessibility, we have an unwavering dedication to our core values of Resilience,
Efficiency, eXellence, Integrity & Teamwork (REXIT).
For more information on REX, please visit:
Website: www.rexinsure.com
Facebook/Twitter/Instagram: rexinsure
LinkedIn: rexinsure

For more information, please contact:
Wilson Okoh-Esene
Head, Corporate Communications
Rex Insurance Limited
26E, Abdulrahman Okene Close
Off Ligali Ayorinde Street
Victoria Island, Lagos
Phone: 0802 718 4941
Email: w.okoh-esene@rexinsure.com
Web: www.rexinsure.com