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Zenith General Insurance Supports Students in Six Lagos Schools with Back-to-School Supplies

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L-R: Favour Ihechimere, Modupe Ujadughele and Pero Giwa (all of Zenith General Insurance Limited); a student of Alimosho Junior Grammar School; Mrs Maria Ojo, Director of Schools’ Administration, Education District I; a student of State Senior College, Alimosho; Dolapo Talabi of Zenith General Insurance Limited; Ozioma Okenyeka, School Counsellor, Alimosho Senior Grammar School; Promise Okonkwo, Gbemisola Adesanmi, Marshall Nwoke and Vincent Ogunkorode (all of Zenith General Insurance Limited), during the company’s presentation of back-to-school items to selected schools in Lagos State recently.

BY NKECHI NAECHE-ESEZOBOR—For many Lagos parents, the start of a new school session brings a familiar worry: how to cover school bags, exercise books and mathematical sets when even putting food on the table is a daily struggle.

This season, that pressure eased a little for families in six public schools, as Zenith General Insurance Limited stepped in with the supplies their children needed to begin the term prepared, and with a message that where they come from should never limit how far they go.

The initiative, implemented under the company’s Corporate Social Responsibility (CSR) programme, seeks to ease the financial burden on parents, improve students’ access to essential learning materials and promote inclusive education, particularly among children in public schools.

Speaking during the presentation, Mrs. Dolapo Olatayo Talabi, General Manager at Zenith General Insurance Limited, challenged students to recognise their present academic experiences as the foundation for future achievements. Addressing students at Alimosho Junior Grammar School, Talabi engaged them in an interactive session around the theme, “Prepared for Success,” encouraging them to develop habits that would position them to take advantage of opportunities. She described the classroom, textbooks, assignments and everyday choices students make as essential parts of their preparation for the future.
Talabi identified purpose, preparation and persistence as three essential ingredients for success.

“Success is not an accident. Success is what happens when preparation meets opportunity,” she said. She also cautioned against allowing their age or the location of their schools to limit their aspirations, stressing that greatness depends on preparation rather than geography. Describing the students as potential game-changers of today, rather than merely leaders of tomorrow, she encouraged them to commit themselves to academic excellence and personal development.

Explaining the rationale behind the donation, Hashim Okunbor, Head of Corporate Communications at Zenith General Insurance Limited, said the company regarded children as the foundation of the nation’s future and considered investment in education essential to sustainable community development.

According to him, the back-to-school initiative was designed to provide practical assistance to families facing the financial pressures associated with the beginning of a new academic session. “As a company, we believe strongly that children are the future. The Back-to-School Initiative allows us to maximise long-term social impact and build multigenerational brand loyalty. But more importantly, we know that the new school session comes with some financial pressure on parents, hence our decision to help in our own little way,” he said.

Okunbor explained that the beneficiary schools were selected in consultation with the relevant local government school district to ensure the intervention reached students across different communities.He expressed hope that the donated materials would support students’ academic activities and encourage them to pursue their ambitions.
“We hope that these items serve them well and encourage them to dream big,” he said.

He added that the initiative formed part of the insurer’s broader commitment to education and community development, recalling that the company supported a school library project in 2024.According to him, Zenith General Insurance conducts annual assessments to identify areas where its resources and expertise can deliver meaningful social impact.

He noted that the programme also demonstrated the human side of insurance by showing how businesses could support vulnerable communities, address practical challenges and contribute to restoring hope.

Responding on behalf of the six beneficiary schools, the Principal of Alimosho Junior Grammar School, Mrs Ige Adekunle Mary, commended Zenith General Insurance for the donation, describing it as timely and beneficial to students, parents and the wider school community. She observed that many parents struggled to provide basic necessities, including food, making it difficult to meet additional expenses for school bags, exercise books and other learning materials.

Mary said the intervention would provide financial relief to families while helping to reduce disparities between students from different economic backgrounds. She added that access to appropriate educational materials was essential for effective classroom participation, consistent learning and improved understanding of school subjects.

The principal called on other private-sector organisations to support public schools, describing them as critical platforms for grassroots development and national transformation.
“I wish to appreciate Zenith General Insurance and other private organisations and encourage them to see public schools as a rich field for grassroots nation-building,” she said. She also advocated increased investment in educational infrastructure and extracurricular activities to improve students’ learning experiences and promote their overall development.

The donation underscores the potential of corporate social responsibility programmes to complement government efforts to improve access to education in Nigeria.

For Zenith General Insurance, the initiative combines material support for students with a broader message: preparing young people for success requires access to learning resources, encouragement and the determination to make the most of available opportunities.

The post Zenith General Insurance Supports Students in Six Lagos Schools with Back-to-School Supplies appeared first on Business Today NG.

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Afrinvest CEO recalls how Elumelu’s $1 million loan helped salvage firm from crisis

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Tony Elumelu played a supreme role in getting investment bank Afrinvest back on track in 2011 after the global financial meltdown pushed the investment bank to the brink, its chief executive recalled in a letter to the tycoon seen by PREMIUM TIMES.

The multisectoral magnate, who is the top shareholder of United Bank for Africa, the Transcorp Group, and Seplat Energy, granted a soft loan of $1 million to Ike Chioke, the CEO of the financial institution, as a mark of urgent support when the firm direly needed the cash to recapitalise, the latter said.

“Fifteen years ago, Afrinvest was navigating one of the most challenging periods in its history, as we struggled to rebuild and recapitalise the business in the aftermath of the global financial crisis,” Mr Chioke said.

“At that critical juncture, when the future was far from certain, you made the remarkable decision to lend me US$1 million of your personal funds. You placed your confidence not simply in the prospects of a business but in me as an individual, my integrity, my determination and my conviction that Afrinvest could emerge stronger from adversity.”

This June, Mr Chioke eventually completed the repayment of the credit, according to the letter, describing the gesture as an extraordinary act of friendship, generosity and trust.

READ ALSO: Afrinvest repays undocumented $1 million from Elumelu with interest

Mr Elumelu, whose economic vision is anchored on what he calls “Africapitalism” – an investment philosophy that prioritises the private sector’s role in democratising the wealth Africa needs to power large-scale growth, has been involved in active philanthropic initiatives on the continent.

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In March, his foremost charity project, the Tony Elumelu Foundation, turned sixteen, and he said the initiative had disbursed over $100 million in seed capital to 24,000 entrepreneurs in Africa and created more than 1.5 million jobs over the period.

The foundation expects to fund an additional 3,200 entrepreneurs this year, it said in September.

Mr Chioke applauded the profound impact Mr Elumelu’s financial assistance has had on Afrinvest, notably transforming it into a diversified regional financial services group with an expanding universe of clients and operations in asset management, investment banking, research & consulting, and securities trading.


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FG Backs Risk-Based Capital, Urges Insurance Directors to Move Beyond Passive Compliance

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BY NKECHI NAECHE-ESEZOBOR—The Federal Government has thrown its weight behind risk-based capital in the insurance industry and urged insurance company boards to move from passive regulatory compliance to active oversight.

The government made its position known through the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, at the 2026 Insurance Directors’ Conference, themed “Recapitalisation to Resilience: Leading the Risk-Based Capital Era.” The conference was organised by the College of Insurance and Financial Management (CIFM).

The minister, who was represented by Dr. Greg Ugochukwu Ezeilo, Special Adviser on Fiscal Risk Management and Sustainability, said a resilient insurance industry is indispensable to the country’s economic transformation.

He described insurance as more than a mechanism for compensating losses, calling it an instrument for mobilising long-term capital, enabling productive investment and protecting livelihoods. He said the economy needs an insurance sector able to underwrite emerging risks, support infrastructure financing and strengthen agricultural productivity.

On the transition to risk-based capital, he said insurers must align their capital with the nature, scale and complexity of the risks they take on. He also called for a more forward-looking approach to governance, investment decisions, underwriting practices and enterprise risk management.

“Capital without governance is vulnerable,” he said. He added that governance without accountability is ineffective, and that insurance without public confidence cannot fulfil its economic value.

According to him, the transition places heightened responsibility on insurance company boards. He said directors must move beyond passive regulatory compliance to active oversight and ensure that risk appetite, capital allocation, corporate strategy and institutional capacity are consistently aligned.

He set out five priorities for the industry. The first is strong governance, with visible leadership at the top, independent oversight and transparency, noting that public confidence remains the industry’s most valuable capital. The second is wider access, with affordable, accessible and relevant products for households, small businesses, farmers and underserved communities, so that insurance becomes an everyday instrument of economic security rather than a privilege of a limited market segment.

The third is directing the industry’s long-term funds, under prudent investment frameworks, towards productive investment, infrastructure financing and sustainable economic growth. The fourth is technology and innovation, including big data analytics, machine learning, artificial intelligence and innovative underwriting models, supported by robust cyber security, consumer protection and operational safeguards. The fifth is building capacity to handle emerging risks such as climate-related disruptions, cyber threats, changing demographics and increasingly interconnected financial markets.

He said the Federal Government remains committed to a stable, competitive and inclusive financial ecosystem in which insurance contributes meaningfully to national economic development. He recognised the National Insurance Commission’s role in strengthening regulatory standards, protecting policyholders and guiding the industry through the transition.

He said sustainable reform requires collaboration among regulators, operators, investors and government, and urged stakeholders to see the transition not simply as a regulatory exercise but as an opportunity for strategic transformation.

The ultimate measure of success, he said, is how effectively the industry helps Nigerians absorb shocks, builds confidence and finds progress.

The post FG Backs Risk-Based Capital, Urges Insurance Directors to Move Beyond Passive Compliance appeared first on Business Today NG.

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