UnityKapital Asssurance CEO and CFO Fired?


UnityKapital Assurance has just announced that its Chief Executive Officer and Chief Financial Officer, have both resigned.

In a statement released to the Nigerian Stock Exchange, NSE the company said it has “approved the resignation of the following with immediate effect: Mr. Michael Dogo Managing Director/CE 2. Mr. Olugbenga Olasogba Chief Finance Officer”.

“Messrs Babatunde Oshadiya (Executive Director Operations) and Olabode Okedun (Senior Manager Accounts) were appointed to act in the interim to oversee the offices in line with best corporate governance practice.” the statement said

The company did not state whether there are financial impropriety or mismanagement at the company.

In its full year result, UnityKapital said it has an increase of 4.49% in gross premium income to NGN3.03 billion as against NGN2.9 billion in the preceding year, and 14.6% in net premium income of NGN2.5 billion from NGN2.18 billion the previous year.

Unity Kapital Assurance PLC offers commercial and personal insurance products. The Company offers automobile, homeowners, public liability, fidelity guarantee, marine, machinery breakdown, contractors all risk, fire, burglary, professional indemnity, group personal accident and workmen’s compensation insurance, and bonds.


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