Business
Reborn @ 66: African Alliance Insurance Promises Absolute Transparency and Solvency
BY NKECHI NAECHE-ESEZOBOR—The new management of African Alliance Insurance Plc has promised sound solvency management and absolute transparency as the company officially returns to full business operations following a major regulatory restructuring.
Speaking recently in Lagos, the newly appointed Managing Director and Chief Executive Officer, Mr. Ayobami Olakunle Ogunkeye, stressed that the pioneer indigenous life underwriting firm has pledged to uphold the highest standards of accountability and customer-centric service.
According to Ogunkeye, a seasoned turnaround expert, the company’s revival strategy is built directly upon these promises to ensure long-term viability and safeguard the interests of all policyholders.
The company’s renewed assurances follow a decisive regulatory intervention by the National Insurance Commission (NAICOM), which began in October 2024.
Prompted by severe liquidity pressures, operational disruptions, and a substantial backlog of unpaid claims, NAICOM had appointed an Interim Management Board to stabilize the 66-year-old institution.
During the intervention, the interim board successfully cleared over 75 percent of the company’s accumulated legacy liabilities.
Critical capital was unlocked through the competitive sale of a 49 percent stake in PAL Pensions, while trapped dividend funds were secured to clear up to 15 months of annuity arrears.
Additionally, the team transparently transferred the firm’s admitted annuity portfolio to an underwriting institution to secure uninterrupted payments for beneficiaries, upgraded internal ICT infrastructure, and completed vital forensic and actuarial reviews.
With these corrective milestones achieved, NAICOM Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, formally certified the company fit to resume full operations and officially handed control over to a newly constituted board and management team.
Although independent operations have resumed, African Alliance will remain under active regulatory oversight to monitor its ongoing recapitalization progress and solvency compliance closely.
The newly formed leadership structure is headed by Board Chairman Rear Admiral Anthony Odogba Isa. Joining him on the board are Andrew Ubochi as Executive Director, Technical, alongside non-executive directors Chief Boniface Chinedu Moore (SAN), High Chief Olabode Akeem Mustapha, Ataraire Gideon, and Harrison Ogalagu.
Addressing the firm’s diverse stakeholders, Ogunkeye stated that the lessons learned during the recent period of hardship have deeply reinforced the company’s resolve to develop appropriate corporate governance structure
He assured existing policyholders that their trust would be honoured without compromise, while inviting prospective clients to approach the revitalized insurer with full confidence in its financial positioning and operational capacity.
The post Reborn @ 66: African Alliance Insurance Promises Absolute Transparency and Solvency appeared first on Business Today NG.
The Civil Defence, Correctional, Fire and Immigration Services Board (CDCFIB) has warned members of the public against spreading or relying on false information regarding its ongoing recruitment exercise.
In a public notice signed by Okeh Juliet, head of press and public relations for the Secretary to the Board, the CDCFIB said that false information about the recruitment exercise was being circulated across various channels, particularly on social media platforms.
The Board said the misleading messages could create confusion and undermine the aspirations of genuine applicants seeking opportunities through the recruitment process.
“The public is advised to exercise caution and verify all information online. Misleading messages concerning the ongoing recruitment exercise are disruptive and capable of undermining the aspirations of genuine applicants,” the notice stated.
CDCFIB warned that it would take necessary measures to identify and prosecute individuals or groups responsible for creating and disseminating false information about the exercise.
According to the Board, the spread of unauthorised and misleading information constitutes a criminal offence punishable under existing laws.
“The Board is taking all necessary steps to identify and prosecute individuals or groups responsible for creating and disseminating false information,” it said.
It added that, “The spread of unauthorised and misleading information is a criminal offence. Offenders will be brought to book and sanctioned in accordance with extant laws.”
The Board described the notice as a final warning to social media users and account holders who spread false claims about the recruitment exercise.
READ ALSO: Recruitment: Board releases lists of successful Immigration, Fire, NSCDC, NCoS applicants
It also noted that it is collaborating with relevant security and law enforcement agencies to monitor and address cases of misinformation.
“This serves as a final warning to all social media users and account holders involved in propagating falsehoods relating to the ongoing recruitment exercise,” the Board noted.
Applicants and stakeholders were advised to rely only on the Board’s official recruitment portal and verified communication channels for updates regarding the exercise.
“Applicants and stakeholders are strongly advised to rely ONLY on the official CDCFIB recruitment portal and verified Board communication channels for authentic updates,” the notice added.
The Board also appealed to members of the public to report suspicious content and refrain from sharing unverified information.
An 84-year-old grandpa, Godfrey Orji and 75-year-old Godwin Obulunbiya Obiora are now cooling their heels in the custody of the National Drug Law Enforcement Agency (NDLEA) following their arrest for dealing in illicit substances, which they sell to teenage secondary school students in Umuahia, Abia state capital.
Pa Obiora was arrested by NDLEA operatives on Friday 19th June 2026 following credible intelligence that he was selling illicit substances to young students and others in his patent medicine store located at 4 Club road, Umuahia, where 4.64 kilograms of opioids including tramadol and diazepam were recovered from him during a search of his premises.
In his case, Pa Orji who is a pensioner and also into the illicit drug trade, was nabbed by security guards at Saint Silas Secondary School, Old Umuahia, for supplying illicit drugs to two teenage students (names withheld) in the school. The guards thereafter handed them over to the police who in turn transferred them to NDLEA on Thursday 18th June.
In his statement, one of the two teenagers, a 15-year-old SS2 student claimed the 84-year-old grandpa supplies him the drugs which he takes and also sells to fellow students. While the two grandpas are billed to have their day in court, the students have been placed on counselling and rehabilitation.
Meanwhile, NDLEA operatives have intercepted a consignment of ADB Chminaca, a synthetic cannabinoid classified as a dangerous new psychoactive substance (NPS), at a courier firm in Lagos. The shipment coming from China with a gross weight of 9.5 kilograms was concealed in a carton. This was followed by another seizure on Tuesday 16th June at a different logistics company in Lagos where 300grams of Loud, a strong strain of cannabis was found hidden in ladies’ handbags.
In another interdiction operation in Lagos, NDLEA officers on Friday 19th June raided the home of a wanted drug dealer Lukman Badmus (a.k.a. Lukman Ogombo) in Ogombo area of Ajah where nine bottles of codeine syrup and 30 grams of skunk were recovered.
A swift follow up operation at Lukman’s wife shop in Patey area of Lagos Island led to the recovery of additional two bottles of codeine and drug paraphernalia, while 42 compressed blocks of skunk weighing 22.5kg were also recovered from a mini bus parked in front of her shop. Attempt by the wife, Aisha Saraki, to flush some of the drug exhibits in the toilet during the raid was thwarted by operatives.
In Kogi state, NDLEA officers on patrol along Okene/Lokoja highway on Friday 19th June intercepted a suspect Tochukwu Onah, 33, coming from Lagos to Abuja with 1.030kg methamphetamine concealed in custard containers, while a couple: James Tony Chukwudi, 48, and James Kehinde, 35, wanted in connection with the seizure of 117 kilograms of skunk since 26th March, 2026 in Ekiti state were eventually arrested at Oniyo street Efon-Alaaye-Ekiti on Tuesday 16th June after months on the run.
In Oyo state, 75-year-old Tudun Olubiyi and two others: Nasiru Buhari, 22; and Buba Musa, 47, were arrested by NDLEA operatives when their house located in Dangote area, Elekara, Oyo town, was raided on Saturday 20th June with 118 jumbo bags containing 1,416kg skunk
covered with sawdust recovered.
A suspect Patrick Imoukhede, 45, was arrested on Wednesday 17th June when NDLEA officers raided the Khagba forest, Ikao, Owan East LGA, where they destroyed 1,744.075kg skunk and recovered already processed 169kg of same substance, while another raid at Ebora Camp, Ilushi in Esan South LGA led to the destruction of 2,424.945kg of cannabis, with a suspect Augustine Anyamone, 45, apprehended with 395kg skunk in a separate operation in the area.
With the same zeal, Commands and formations of the Agency across the country continued their War Against Drug Abuse, WADA, sensitization activities in schools, worship centres, work places and communities among others in the past week. These include: WADA enlightenment lecture for students and staff of Orun Community Grammar School, Orun Ekiti; Government Girls Secondary School, Charanchi, Bichi, Kano; Federal Technical College, Doma, Nasarawa; Tafida Community Secondary School, Zango, Katsina; and Government Technical College, Onitsha, Anambra, while the Rivers state command paid a WADA advocacy visit to the Paramount Ruler of Rumuogba kingdom, Rivers state, HRH Barr. Temple Ejekwu, among others.
While commending the officers and men of DOGI, Abia, Ekiti, Oyo, Lagos, Kogi, and Edo Commands of the Agency for the arrests and seizures, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) noted their drug supply reduction efforts balanced with WADA sensitization activities while he charged them and their compatriots across the country not to rest on their laurels.
The post NDLEA Nab Two Elderly Men Over Drug Sales to Teen Students appeared first on Business Today NG.
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