Business

Celebrating Sunny Adeda: Alpha Choice Boss and Insurance Icon Hits 70th Milestone

Published

1 month ago

August 12, 2026

Preport

The sounds of celebrations and thanksgiving will rent the air; anniversary chants will serenade the atmosphere in celebration of a great and charming personality, Mr. Sunny Oberuomor Adeda, today August 12th in Lagos.

Sunny, as he is fondly called by close pals and colleagues is a man of amiable character, despite possessing an intimidating built and gait. Sunny is a man of integrity, mixes freely with everyone, even though he is a man of high societal status.

All roads will lead to the house of Sunny Adeda as he clocks 70 years on earth.

Sunny is a hard working man who has indeed paid his dues. In the corporate world, he is not shy to take up responsibilities. His hard working nature propelled him into the insurance industry, where he became a seasoned insurance executive with a distinguished 30 years career marked by progressive leadership and strategic vision.

He rose through the ranks in the insurance sector, hitting the managerial level, making his management capacity second to none.

As he rose through the ranks, he acquired people’s skills, technical and underwriting prowess, culminating into him being an expert in the corporate world. Despite his rise, he remained a man of accountability.

Sunny is a hands-on insurance professional, his years in the industry have seen him deeply involved in policy evaluation, policy implementation, marketing and strategic policy formulation, product designs and business executions while supervising various technical and marketing directorates.

He possesses a demonstrable record of effectively leading and mentoring high performing teams, consistently delivering results in areas such as Life Assurance, Aviation, Oil and Gas, as well as public sector insurance penetration.

His insurance experience spanned over 30 years and across key areas of risk management practice including underwriting, marketing and brokerage operations.

His Professional Journey

With a distinguished career spanning over three decades, Sunny brings with him a track record defined by technical depth, commercial acumen, and strategic foresight.

He is currently MD/CEO of Alpha Choice Insurance Brokers Limited.

He joined NICON Insurance as a Graduate trainee in October 1980 and worked in various technical departments.

He was appointed Executive Director (Technical) 20th October 1999 to July 2006. He oversaw the transformation of the company into one of Nigeria’s most respected risk management and insurance firms. However, he voluntarily retired from the Corporation at the age of 50 years.

Sunny has led start-ups, pioneered projects, and driven market expansion.

He was Deputy General Manager of NICON Insurance (Lagos Office); Assistant General Manager (Lagos Zonal Office); Assistant General Manager (Aviation); Senior Manager (Aviation); Assistant Manager (General Accident); as well as Assistant Manager (Life).

His governance experience also includes service on the board of NAL Merchant Bank plc, 2000/2001; NICON Hotels Ltd, 1999/2005; College of Insurance and Financial Management, 2008-2009; Aderesa Nigeria Limited (Tega Farms); Alpha Resa Hotels Limited.

He obtained a B.Sc (Hons) Biology, from the University of Lagos, Akoka, Yaba

His professional qualifications include Associateship of the Chartered Insurance Institute – London (ACII); Fellowship by Examination of the Chartered Insurance Institute London – FCII; Elected fellow of the Chartered Insurance Institute of Nigeria – FIIN.

He was the President, Chartered Insurance Institute of Nigeria 2009 – 2011; Elected a Council Member of the Chartered Insurance Institute of Nigeria (CIIN) – 1999; Chairman – Mandatory Continuing Professional Development Committee (MCPD); Member – Fellowship Assessment Committee; Chairman – Accreditation Committee, Office Representative Committee; Pioneer Chairman College of Insurance and Management studies (Chairman) 2008; Member Nigerian Institute of management; Member institute of Directors (IOD).

A commitment to continuous learning is exemplified by his participation in executive development programs locally and internationally at institutions such as Upstream Energy Insurance Module 2011 at JLT Academy, London; Chief Executive & Directors Course, Management School, London -2005; Executive Management Development Course, South Africa – April 2000; Life Insurance Course at the Swiss Insurance Training Centre, Zurich – 1988; Munich Reinsurance Course, Munich, Germany – 2001; Computer Appreciation Course; Budgeting and Budgetary Control; Financial Management; Human Resources Management; Action Centered Leadership; Total Quality Management; Chartered Insurance Institute of London Annual Conference; Chartered Insurance Institute of Nigeria – Seminars and Conferences.

He belongs to Ikoyi club 1938, Country club 1949 Ikeja, IBB international golf club Abuja, Fountain of Hope International, as well as ENI Club.

His hobbies are Table Tennis, Swimming, Reading and Music. He is married with four children and hails from Delta State.

The post Celebrating Sunny Adeda: Alpha Choice Boss and Insurance Icon Hits 70th Milestone appeared first on Business Today NG.

Related Topics:70th Adeda Alpha Boss Celebrating choice hits icon Insurance milestone Sunny

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Business

Shettima Urges African Leaders to Process Minerals Locally

Published

32 minutes ago

September 23, 2026

Preport

Vice President Kashim Shettima has called on African countries to reduce their dependence on the export of raw mineral resources and focus more on local processing and industrialisation.

Shettima made the call in New York while representing President Bola Tinubu at the Third High-Level Roundtable of the Africa Minerals Strategy Group, held on the sidelines of the 81st United Nations General Assembly.

He said Africa needed to move beyond its traditional role as a supplier of raw materials and develop industries capable of processing its mineral resources within the continent.

According to the Vice President, greater local processing would help African countries create jobs, strengthen industries and retain more value from their natural resources.

Shettima also called for stronger cooperation among African countries, including the development of regional processing hubs, integrated markets and cross-border mineral corridors.

He cautioned against competition among African nations for foreign investment through lower royalties, weaker local-content requirements and excessive concessions, arguing that stronger continental coordination would improve Africa’s bargaining position in global mineral supply chains.

The Vice President said Africa could not continue to consider itself wealthy because of its mineral resources while communities located around mineral deposits remained poor and lacked adequate economic opportunities.

He also highlighted reforms in Nigeria’s mining sector, including efforts to improve geological data, formalise artisanal mining, promote local value addition and tackle illegal mining.

Shettima pointed to developments in lithium processing in Nasarawa State as an example of the opportunities available when mineral resources are processed locally.

He further backed the Africa Minerals Strategy Group’s Mutual Assured Development Framework, which promotes predictable policies, credible institutions, responsible investment, technology transfer and local value creation.

The Minister of Solid Minerals Development and Chairman of the Africa Minerals Strategy Group, Dele Alake, also proposed the establishment of an African Artisanal Mining Formalisation and Safety Facility.

The discussions formed part of broader efforts to develop strategies that would enable African countries to derive greater economic benefits from the continent’s mineral wealth.

Business

General Business to Drive 72% of Mutual Benefits Assurance’s Projected ₦96.82bn GWP

Published

15 hours ago

September 23, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—Nigeria’s lead underwriter, Mutual Benefits Assurance Plc has protected a Gross Written Premium of ₦96.82 billion for the twelve months ending 31 December 2026.

According to notice released on the exchange, for dealing members and investors, the company’s insurance revenue, is projected to stand at ₦89.42 billion.

The company’s general business is expected to generate 72% of the projected GWP, while the Life arm of the group will account for j28%.

Investment income would largely be driven by returns on its financial assets, with non-cash items such as depreciation of non-current assets, amortisation of intangible assets, and net fair value gains or losses on financial assets factored into its profit or loss and other comprehensive income statement.

On the profitability side, Mutual Benefits projects gross premium written of ₦96.82 billion and insurance revenue of ₦89.42 billion, against an insurance service expense of ₦81.56 billion. Net income from reinsurance contracts held is estimated at ₦802.64 million, bringing the insurance service result to ₦8.66 billion.

Net investment income is expected to stand at ₦13.16 billion, while net insurance finance expenses are projected at ₦1.99 billion, resulting in net insurance and investment results of ₦19.84 billion. With other income of ₦237.03 million and total non-attributable expenses of ₦2.76 billion, the company expects a profit before income tax of ₦17.31 billion.

After an income tax expense of ₦1.90 billion, Mutual Benefits projects a full-year profit of ₦15.41 billion for the period under review.

The post General Business to Drive 72% of Mutual Benefits Assurance’s Projected ₦96.82bn GWP appeared first on Business Today NG.