After 28 years on the board and 18 years as Group Chairman, Kenny Ezenwani Odogwu has stepped down from Royal Exchange Plc, the parent company of Rex Insurance Ltd and other subsidiaries, leaving behind a legacy of transformation, resilience, and strategic growth.
Under Odogwu’s leadership, Royal Exchange evolved from its composite insurance origins as REAN into a diversified financial services group with interests spanning insurance, finance, and healthcare. His tenure strengthened governance, nurtured talent, and positioned the company as a one-stop financial services hub, reinforcing its standing as Nigeria’s oldest insurance company with 108 years of history.
Reflecting on his tenure, Odogwu said:
“I am proud of what Royal Exchange Plc has achieved. The company’s enduring brand, robust governance, and talented workforce ensure it is well-positioned for continued growth and leadership in the Nigerian financial services sector.”
A New Era Under Ikeme Osakwe
The leadership baton now passes to Ikeme Osakwe, a seasoned financial management specialist with extensive public and private sector experience, including board appointments at Oando Plc. Osakwe steps in as Group Chairman alongside a dynamic and highly experienced board team, including:
- Pamela Yough – Banker and financial consultant, former MD/CEO of Zenith Bank (UK) Limited
- Afolabi Caxton-Martins – Founding Partner, Dentons ACAS-Law, expert in corporate finance and cross-border M&A
- Ezekiel Onilude – Chartered Accountant, Senior Account Manager at Punuka Attorneys & Solicitors, IFR and compliance expert
- Anthony Idigbe SAN – Senior Partner at Punuka Attorneys & Solicitors, specialist in human capital development and corporate consultancy
- Sanusi Mohammed Daggash – Architect and project management expert, Chairman of Shuwari Industries Limited
- Idu Okeahialam – MD/CEO of Royal Exchange Plc, pension and compliance specialist
Osakwe’s appointment signals continuity, innovation, and a strategic focus on sustainable growth, building on Odogwu’s legacy of diversification and financial stability.
Odogwu’s Lasting Legacy
During his 18-year leadership, Odogwu oversaw:
- Transformation from a composite insurance company to a holding company with multi-sector presence
- Adoption of a group holding structure in 2007, one of the first in Nigeria
- Strengthening of corporate governance, risk management, and shareholder confidence
- Expansion into insurance, finance, and healthcare, positioning Royal Exchange as a one-stop financial services destination
Odogwu leaves a company that is resilient, future-ready, and equipped with a strong management team and shareholder base to pursue further growth.
Looking Ahead
With a new board led by Osakwe, Royal Exchange Plc aims to:
- Continue expanding its insurance and financial services offerings
- Maintain its reputation for governance, transparency, and operational excellence
- Deliver innovative solutions to meet evolving market demands
The seamless leadership transition reflects Royal Exchange’s commitment to sustainable growth and long-term value creation for shareholders, customers, and the Nigerian financial industry.
