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AIICO Insurance Shareholders Approve ₦4.39bn Dividend, Welcome New Board

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BY NKECHI NAECHE-ESEZOBOR—AIICO Insurance Plc has reinforced its position as a leading player in Nigeria’s insurance and financial services sector, following a successful Annual General Meeting (AGM) held on June 5, 2026.

During the meeting, shareholders commended the company’s strong financial performance and approved all resolutions presented.

In a robust show of confidence in the company’s growth trajectory and strategic direction, shareholders approved the payment of a dividend of 12 kobo per share, amounting to a total payout of ₦4,392,633,121.44.

The meeting also marked a significant evolution in the company’s governance structure with the appointment of three accomplished professionals to the Board as Non-Executive Directors.

Tunde Mabawonku joins as a Non-Executive Director, bringing over two decades of experience across banking, finance, strategy, and corporate services, with a strong background in digital and retail financial services.

Rolake Akinkugbe-Filani, HCIB, also appointed as a Non-Executive Director, contributes deep expertise in capital markets, energy finance, and risk governance, with extensive experience operating across multi-jurisdictional environments.

Sadiq Mohammed joins as an Independent Non-Executive Director, offering over three decades of leadership across asset management, pensions, infrastructure, and investment advisory, alongside significant boardroom experience.

Collectively, these appointments further strengthen the depth, diversity, and strategic capability of AIICO’s Board, positioning the company for sustained growth and enhanced governance.

In addition, Mr. Olalekan Akinyanmi was announced as the new Chairman of the Board, succeeding Mr. Kundan Sainani. Mr. Akinyanmi is the Founder and Chief Executive Officer of LEKOIL Nigeria Limited, an Africa-focused oil exploration and production company.

With over 30 years of experience in the global energy sector, he has led significant capital raises and landmark projects, bringing strong leadership and strategic insight to his new role as Chairman.

Commenting on the outcomes of the AGM, the MD/CEO, Mr. Babatunde Fajemirokun, stated that the company is deeply grateful to its shareholders and investors for their continued confidence and support.

He noted that their trust remains a strong validation of AIICO’s strategic direction and business progress.

He emphasized that strengthening the Board reflects a deliberate commitment to robust governance, disciplined oversight, and long-term value creation.

With the depth of experience and diversity now represented at the Board level, the company is well-positioned to enhance its decision-making and sustain its market leadership.

He added that as the company continues to evolve as a financial services group, the focus remains on building a resilient, forward-looking institution that consistently delivers sustainable value to all stakeholders.

AIICO Insurance is a leading composite insurer in Nigeria, with a 63-year record of accomplishment in delivering quality service to its clients. Founded in 1963, AIICO provides life and general insurance, health insurance, and investment management services to create and protect wealth for individuals, families, and corporate customers.

The post AIICO Insurance Shareholders Approve ₦4.39bn Dividend, Welcome New Board appeared first on Business Today NG.

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Business

Nascon, Coronation, Jaiz Bank top stock pick this week

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Nigerian stocks advanced by 2.9 per cent last week, lifted by bank and oil & gas equities. All the sector indexes appreciated during the week.

The main equity index has yielded 60.5 per cent so far this year.

“Recent broad-based declines have, however, brought several frontline and mid-cap stocks to more attractive entry levels. This could encourage some bargain-hunting during the week,” analysts at Meristem Securities said in a note ahead of the week.

PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.

The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.

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Nascon

Nascon tops this week’s list for its strong fundamentals. The net profit ratio (NPR) of the salt maker is 9.3, while the price-to-earnings (PE) ratio is 11.5x. Its 14-day relative strength index (RSI) is 6.9.

Coronation Insurance

Coronation appears on the pick on the basis of its attractive fundamentals. The NPR of the insurer is 22.7, while the PE ratio is 5.2x. The 14-day RSI is 55.4.

Jaiz Bank

Jaiz makes the selection for its strong fundamentals. The bank’s NPR is 28.5, while the PE ratio is 1.5x. Its 14-day RSI is 43.9.

Fidson

Fidson makes the cut for its sound fundamentals. The NPR of the drug manufacturer is 7.8, while the PE ratio is 17.7x. The 14-day RSI is 43.

CAP

CAP makes the cut for its sound fundamentals. The NPR of the chemical manufacturer is 14.1, while the PE ratio is 13.5x. The 14-day RSI is 3.6.


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NCC Empowers Persons With Disabilities Through Digital Citizenship Training in Lagos

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Over  100 people living with disabilities in Lagos State have completed a two-day workshop organized by the Nigerian Communications Commission (NCC), focused on building digital literacy, online safety awareness, and familiarity with assistive tools.

The session, held on September 9 and 10, 2026, carried the theme “Empowering Persons with Disabilities Through Digital Citizenship for an Inclusive Digital Economy.”

Participates covered topics including basic digital literacy, internet usage, online safety practices, privacy protection, adaptive technology, and responsible online conduct. Rather than simply teaching device operation, organizers emphasized how digital tools could enhance participants’ independence, personal safety, and access to broader opportunities — including recognizing fraudulent schemes and safeguarding personal data online.

They also explored adaptive tools such as voice-to-text software, designed to simplify device interaction for people with certain disabilities. Organizers additionally addressed the stigma and exclusion that many disabled Nigerians continue to face, noting how such attitudes restrict full participation in society.

NCC Executive Vice Chairman Dr. Aminu Maida — represented at the event by Helen Obi, Director of the Commission’s Digital Economy Department — described the program as evidence of the regulator’s dedication to removing disability-related obstacles to involvement in Nigeria’s expanding digital economy.

Maida noted that genuine digital inclusion requires more than simply expanding internet access. He explained that being digitally literate means understanding how to engage online safely, guard personal information, spot deception and false information, and grasp one’s rights and obligations in digital spaces. He added that technology could help disabled individuals overcome obstacles in schooling and employment while opening doors in business ownership, remote work, and access to public resources.

The Lagos workshop forms part of a broader NCC effort to extend digital training to disabled Nigerians nationwide. Maida pointed to other accessibility initiatives, including the Commission’s E-Accessibility Project, research into adaptive devices such as an assistive cane prototype for visually impaired persons, and the fourth annual Hackathon themed “Technology Without Barriers,” which invited developers to build accessibility-focused solutions.

According to the NCC, expanding internet access alone won’t achieve meaningful inclusion unless people also gain the confidence and skills to use technology effectively and securely. Maida called for closer cooperation among government bodies, regulators, tech firms, service providers, international partners, civil society groups, and disability advocacy organizations, arguing that accessibility should be built into digital products from the design stage onward.

The Commission credited the Lagos State Government, the National Commission for Persons with Disabilities, the Lagos State Office for Disability Affairs, and other partners for supporting the program. For participants, the training offered tools they can put to immediate use — from spotting scams and securing personal data to navigating assistive technology with greater confidence.

The post NCC Empowers Persons With Disabilities Through Digital Citizenship Training in Lagos appeared first on Business Today NG.

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