NAICOM rejects Oluyemi as CEO UnityKapital Assurance Plc

The National Insurance Commission (NAICOM) has declined to confirm the appointment of Mr. Patrick Olatunji Oluyemi as substantive Managing Director/CEO of UnityKapital Assurance Plc.

NAICOM conveyed its rejection of Mr. Oluyemi via a letter addressed to the Chairman, UnityKapital Assurance Plc, with reference number NAICOM/ TD/A&P/RIC-022/558 titled Re: confirmation of Mr. Patrick Olatunji Oluyemi as MD/CEO of UnityKapital Assurance Plc dated 20th March 2017 and signed by Mr. Pius T. Agboola, the Director, Authorization & Policy, on behalf of the Commissioner for Insurance, Alh. Mohammed Kari.

The letter said: “After reviewing the documents at our disposal and following the report of the due diligence conducted on the proposed MD/CEO, the Commission is unable to confirm the appointment of Mr. Patrick Olatunji Oluyemi as managing director/CEO Assurance Plc.”

It thus advised UnityKapital to “propose another person that possess requisite professional qualification and experience in the insurance industry as MD/ CEO and forward same to the Commission for consideration.”

UnityKapital Assurance Plc is a general insurance organisation providing covers in all general and special risks insurance including oil and gas, motor, marine, aviation, general accident, fire and special perils among others. of UnityKapital