AIICO Insurance Names Sadiq Mohammed, Tunde Mabawonku, Rolake Akinkugbe-Filani to Board

AIICO Insurance Plc has announced the appointment of three new directors to its board following regulatory no-objection approval as the insurer moves to strengthen corporate governance and strategic oversight across its operations.

In a statement released on May 25, 2026, the company confirmed the appointment of Mr. Sadiq Mohammed as Independent Non-Executive Director alongside Mr. Tunde Mabawonku and Mrs. Rolake Akinkugbe-Filani as Non-Executive Directors.

The appointments bring together extensive experience spanning banking, investment management, infrastructure finance, pensions, fintech, energy, risk governance and corporate strategy at a time when Nigeria’s insurance industry continues to face increasing regulatory, digital transformation and capital efficiency demands.

Sadiq Mohammed joins the board with over three decades of experience across financial markets, asset management, infrastructure and alternative investments.

He is the founder and Chief Executive Officer of Hexium Investments and previously spent 28 years at ARM Group where he held senior leadership roles including Deputy Group Chief Executive Officer and Managing Director of ARM Pension Managers.

His experience includes oversight of major infrastructure and real estate projects such as Lekki Concession Company, Lakowe Lakes Golf and Country Estate and other proprietary investments within the ARM ecosystem.

The company also appointed Tunde Mabawonku, Executive Director overseeing Finance, Retail and Digital Business at Wema Bank Plc.

Mabawonku brings more than 25 years of banking experience covering finance, digital banking, investor relations, corporate sustainability, strategy and human capital management.

Prior to his current role at Wema Bank, he served as Chief Finance and Strategy Officer and previously held leadership positions at Prudent Bank and Skye Bank, now known as Polaris Bank.

Rolake Akinkugbe-Filani also joins the board as a Non-Executive Director with nearly two decades of experience across financial services, energy, development finance and investment advisory.

She is the founding Managing Director and Chief Executive Officer of EnergyInc Advisors and has previously held senior roles at Zenith Bank Plc, FBNQuest Merchant Bank, Ecobank Group and Mixta Africa.

According to AIICO Insurance, the appointments are expected to strengthen the company’s governance framework, investment oversight and long-term strategic positioning as competition intensifies within Nigeria’s financial services sector.

Industry analysts said the addition of executives with strong backgrounds in infrastructure finance, capital markets, banking and digital transformation reflects broader efforts by listed financial institutions to improve board diversity and align governance structures with evolving market realities.