Board Of Directors

  • Mr Remi Babalola | Chairman LUR

    Remi Babalola served as Minister of State for Finance from July 2007 to August 2010; he simultaneously held the post of Supervising Federal Capital Territory Minister in late 2008. Before his appointment to the Federal Cabinet, he had extensive experience in the private sector at top management level, most especially in banking, auditing, consulting and strategy.

    He has both brain-on and hands-on experience in value creation, organizational renewal and leadership effectiveness.

    Until his appointment as a Federal Minister, he was on the Board of First Bank of Nigeria Plc, First Funds Limited and African Export Import Bank.

    Currently, he is Chairman/ Chief Strategist of Alternative Capital Partners Limited, a Securities and Exchange Commission ("SEC") registered Advisory and Fund/ Portfolio Management firm. Also, he is the Chairman of the Management Board of Remi Babalola Red Cross Medical Centre, a philanthropic initiative of Nigerian Red Cross Society and Remi Babalola Initiative.

    He is a Fellow of the West African Insurance Institute (WAII), Institute of Directors Nigeria (IoD), Chartered Institute of Bankers of Nigeria, Chartered Taxation Institute and Institute of Chartered Accountants of Nigeria.

    He has numerous awards, honurs and prizes in serveral areas of human endeavours.

  • Mr. Segun Faleye | Vice-Chairman

    Segun Faleye is seasoned specialist with over 22 years professional experience in Testing, Inspection, Certification of products and services. He is currently the Managing Director and Chief Executive Officer of Swede Control Intertek Limited, specialists in pre-shipment Programme and technical inspection services and commercial verification. He possesses core competence in international trade practices, local and foreign procurement practices and regulations, demonstrated in his active involvement in pre-shipment inspection. His professional depth traverses extensive experience in the import and export business, regulations, coordinative working relationship with the Nigeria Customs Service.

    Mr Faleye holds a Bachelor of Science degree in Economics, (B.Sc Hons) Second Class, Upper Division of the University of Lagos and Advanced Post Graduate Diploma in Purchasing and Supply Management also of the University of Lagos. He is an Associate Member, Nigerian Institute of Purchasing and Supply Management (NIPSM).

  • Mr. Jide Orimolade | Managing Director/CEO

    Jide is an Insurance professional with valuable experience that has spanned over two decades, both within and outside the country. He holds a Bachelor of Science (Honours) degree in Insurance from the University of Lagos, Akoka and a Masters' degree in Marketing from the same University.

    Jide started his Insurance career in 1989 with the former Financial Assurance Company Limited as an Underwriting executive. In 1991, he joined Bullion Insurance Brokers Limited as a Deputy Manager in charge of Marketing. Having garnered experience in Insurance brokerage, he moved to the then Central Insurance Company Limited (now Linkage Assurance Plc) as a Unit Head in the Marketing Division.

    In 1995, he joined Sovereign Trust Insurance Plc. as part of the pioneer team, with the responsibility of overseeing the Apapa Area Office where he rose to the position of Assistant General Manager before voluntarily resigning his appointment in 2004.

    When Zenith General Insurance Company Limited was to be established as the Insurance subsidiary of Zenith Bank Plc in March 2004, Jide was again invited to lead the pioneer team for its take-off as the General Manager and Chief Executive.

    Having strategically positioned Zenith General Insurance Company Limited in the Nigerian Insurance landscape, he resigned his appointment on 2008 to take on a more challenging international appointment at Liberty Life Group of South Africa as the Regional Director in charge of West Africa.

    Before joining Law Union & Rock Insurance Plc as the Managing Director and Chief Executive in November 2014, Jide worked with AIICO Insurance Plc. as an Executive Director from December 2009 to October, 2014 when he voluntarily resigned.

    His immense leadership skills and contribution impacted marketing, technical, claims, re insurance and strategy, generating enormous yearly increase in Gross Premium Written for the company.

    A versatile marketer, seasoned underwriter, Jide can be relied upon when it comes to total quality service.

    He is a fellow of the Chartered Insurance Institute of Nigeria and a member of the Nigerian Institute of Management.

    He has attended several local and international courses on strategic planning, marketing, Management, Oil & Gas Insurance; prominent among them is the Organizational Leadership course at the Global Leadership Centre, Standard Bank, South Africa.

    Jide is happily married with children.

  • Mr. Folarin Familusi | Non - Executive Director

    Folarin Familusi is an Executive Director, Operations at Swede Control Intertek Limited, a Quality Assurance Company. He has over 15 Years' experience in Management and is also an expert in development consulting with experience in public sector management paradigms such as Design, Build, Operate and Transfer (DBOT). He has also worked with Global Institutions such as Intertek Group Plc, Caleb Brett, and ETL Semko, all in the United Kingdom. He has also worked at Wise Health Services Limited (a Health Management Organization) as well as Digital Toll Company Limited (a joint venture company with the Federal Government of Nigeria on the 2nd River Benue Bridge).

    Folarin Familusi obtained his B. Sc Computer Science from Richmond College (the American University in London), Bachelors' in Business Administration from the American Intercontinental University, also in the United Kingdom. He has a Master's Degree in Business Studies & Business Administration from the University of Kent at Canterbury.

    Folarin Familusi is a Member of the Chartered Institute of Management Accountants (CIMA). He is also a member of the prestigious Ikoyi Club 1938, and Island Football Club, both in Lagos. He is happily married.

  • Mrs Onome Joy Adewuyi | Non-Executive Director

    Mrs Onome Joy Adewuyi is currently the Executive Director, Finance & Admin of Cynergy Platforms Limited.

    She graduated with a B.Sc degree with second class honours (upper division) in Accounting from the University of Benin in 1982 and an M.Sc degree in Banking & Finance from the University of Lagos in 1993. She is an alumnus of the Harvard Business School Boston Massachusetts USA, the Wharton Business
    School of Pennsylvania USA and the Kellogg Business School, Chicago USA. She is also an alumnus of the International Banking Summer School USA and the Lagos Business School.
    She began her career with Texaco Nigeria Plc. as the Treasury and Investment Accountant. She later joined the Nigerian Intercontinental Merchant Bank Limited where she started her banking career.  She worked in Fidelity Bank Plc. for close to two (2) decades where she rose to the position of the Executive Director, Risk Management. She has over 3 decades of experience in banking and financial management.
    Mrs Adewuyi, in conjunction with Deloitte of South Africa, was responsible for the implementation of Fidelity Bank Plc. Enterprise Risk Management System in 2008. This culminated in the setup of distinct Credit Risk, Market Risk and Operational Risk Division of the Bank which is still in use at Fidelity Bank Plc. She is a faculty of the Financial Institution Training Centre and other private training institutions on Risk Management (Credit and Operational Risks).
    She is a Fellow of the Institute of Chartered Accountants of Nigeria and a Fellow of the Chartered Institute of Bankers of Nigeria. She is also a member of the governing council of the Institute of Chartered Accountants of Nigeria. She is currently the President of the Society for Women Accountants in Nigeria (SWAN). She is also a member of the Institute of Directors. She serves on the Boards of Law Union & Rock Insurance Plc. and Dominion Trust Limited as Non-Executive Director.
    Mrs Adewuyi has passion for charity works and development of the indigent girl child. She runs a scholarship scheme for Anglican priests and indigent children attending Nigerian universities. She is married with children.

  • Ms. Toyin Olusanya | Non - Executive Director

    Toyin Olusanya is resourceful financial market expert with over 18 years' experience in the financial services sector both in commercial and investment banking. Her core skills are people management, business development and strategy, business re-engineering and treasury & investment operations.

    She is currently the MD of Aeida, an events and health consulting firm and a Director and Resource Person for Financial Markets, Personal Development and Relationship Management trainings at FDHL, a financial markets and market risk consulting firm. She had worked with Union Bank of Nigeria Plc. in various capacities including building a treasury sales team, the acquisition of the PDMM and MMD licenses, review of processes and procedures and upgrading the dealing room personnel for securities trading. She was assigned the responsibility to set up the Wealth and Asset Management business of the bank with technical support from BlackRoc Inc. (a global investment management firm). In 2010, she was made the Zonal Coordinator with responsibility for the branches within Lekki axis. Before joining Union Bank, she was DGM and Head of Treasury and Investment Banking at Broad Bank Nigeria Limited. She has also worked at National Bank of Nigeria Limited, First Securities Discount House Limited, Union Bank of Nigeria Limited (London), amongst others. She has attended both local and International trainings.

    Toyin is an Associate of the Chartered Institute of Stockbrokers and holds an MBA from Cardiff Business School, University of Wales and a BSc in Economics from the University of Lagos. Toyin Olusanya represents ACAP I Class LLP on the Board of Law Union & Rock Insurance Plc.

  • Mr. Ajibola Olayinka | Non - Executive Director

    Ajibola Olayinka possesses extensive professional experience of 28 years in the business terrain spanning: Auditing, Accounting and Business Advisory Consulting; Financial Reporting and Controls; Banking and Financial Services; Oil & Gas controllership; Real Estate & Construction; General and Executive Management; Change Management & Entrepreneurship.

    He was the Commercial Director for Globacom operations in Nigeria, Benin and Ghana, major milestone of his tenure being amongst the team which commissioned Glo Ghana operations. He was previously the Managing Director/Chief Executive Officer of DN Meyer Plc. a position he held for over 6 years (March 2004 – May 2010).

    He was an Executive Director at the Corporate Headquarters of the Honeywell Group. He later became the MD of Skyview Estates Limited, a member Company of the Group. He has also held operational and leadership positions in numerous reputable organizations such as Lagos State Ministry of Finance, Treasury Division; KPMG Peat Marwick Ani Ogunde & Co as Senior Auditor; Arthur Andersen as Senior Consultant; Ecobank Nigeria Plc. as Head of Control; Cash Link Finance and Investment Plc. as Senior Manager amongst others. He was the pioneer Company Accountant in Esso Exploration and Production Nigeria Limited Nigeria (now Exxon Mobil). He is currently an independent director in the Board of Alternative Capital Partners Limited.

    He has attended extensive trainings and development courses in Nigeria, United Kingdom, United States of America, Holland, Spain, South Africa to mention a few on skill enhancement and capacity building. He has numerous awards, honours and prizes in several areas of human endeavours.

    He is a Fellow of the Institute of Chartered Accountants of Nigeria, and also a member of Chartered Institute of Taxation of Nigeria, Member of the Nigeria Economic Summit Group (NESG), Institute of Directors, Business Club Ikeja (BCI), Lagos Country Club and Ikeja Lions Club amongst others.

  • Mrs. Funmi Ekundayo | Independent Director

    Funmi Ekundayo is an alumna of the Harvard Business School, the Institute of Chartered Secretaries & Administrators, United Kingdom; the Lagos Business School (Chief Executive Programme) and the IESE Business School, Barcelona, Spain. She holds a Bachelor of Law degree and a Master of Laws degree from the University of Lagos. A member of the Nigerian Bar Association, Funmi is also a Fellow of the Institute of Chartered Secretaries & Administrators of Nigeria (FCIS). Funmi serves as a Member of the Governing Council of the Institute and she is the current Chairman of the Institute's Public Lecture Committee.

    Funmi began her career with the Law Firm of Bentley, Edu & Co (in association with IRVING & BONNAR), where she spent close to a decade in Law practice. She later joined Sterling Asset Management & Trustees Limited (formerly NAL Asset Management & Trustees Limited) before moving to UBA Trustees Limited as Head, Business Development & Marketing. Thereafter, she joined Skye Trustees Limited as an Assistant General Manager, Business Development, from where she rose to become the MD/CEO of the Company. Funmi has distinguished herself in her area of core competence as a seasoned trust specialist engaging in the structuring of complex corporate finance, legal and trust instruments.

    Funmi is currently the President of the Association of Corporate Trustees of Nigeria. She is a member of the Rules & Compliance Sub-Committee of the Securities & Exchange Commission and a Non-Executive Board member of the National Investor Protection Fund. Funmi is a member of the Institute of Directors and she also serves as a Non-Executive Director on the Board of Law Union & Rock Insurance Plc. Funmi has attended several courses locally and internationally.

  • Mr. Obinna Onunkwo | Non - Executive Director

    Mr Obinna Onunkwo is a Managing Partner in Purple Capital Partners Limited, a specialist investment firm with business areas in Principal Investment, Private Equity and Real Estate. He is also a Managing Director in PurpleMoney, a financial institution licensed by the CBN to provide Banking and other related financial services targeted at the micro-economy.

    Obinna is a seasoned securities specialist with over a decade experience in investment management. He has a rich background in investment banking, asset management, equities research and trading, and has over the years played active roles as lead fund manager in corporate actions including mergers, acquisitions, private equity investments, equity raisings and valuations through the various capacities in which he has served.

    Obinna began his career with Guardian Express Bank Plc. and was part of the pioneer team of Guardian Express Trust Limited. He thereafter proceeded to Spring Capital Markets Limited where he was the pioneer Head of the Asset Management Unit which oversaw the management of assets in excess of N18.5 billion.

    He also served as the Head of Asset Management Unit in Kedari Capital Limited in which capacity he also performed excellently. While in Spring Capital Markets Limited, he worked on a number of transactions part of which was the development and execution of the framework for the consummation of several Repo transactions with a cumulative value of over N16.5billion and the management of equity investments in excess of N17 billion on behalf of institutional clients.

    He also initiated and developed the initial framework for the execution of the reconstruction of 42.5bn units of Spring Bank Plc. shares which was at that time the first share.

    Obinna was the pioneering Managing Director, Fund/Portfolio Management at Alternative Capital Partners Limited. As a pioneer director, he drove the operational success and positioning of the wealth management business, facilitating the first ever acquisition and merger of two mutual funds from a bank by a local fund manager as well as the achievement of a return in excess of 13%, which was above market rate for mutual funds.

    Obinna sits on the Board of Law Union & Rock Insurance Plc. and serves on various committees, chairing the ERM Committee and the Technical Subcommittee of the Board. He holds an MBA from Lagos Business School and a bachelor degree in Economics from the University of Port Harcourt; where he also received several prizes as the Best Graduating Student of his set.

    He has attended various foreign and local courses in Investment Management. He is happily married with children.