Leadership transition is underway at Lasaco Assurance Plc as the company announces the appointment of Ademoye Shobo as its new Managing Director and Chief Executive Officer.
The appointment, which took effect on February 6, 2026, has received regulatory approval from the National Insurance Commission (NAICOM), according to a disclosure filed with the Nigerian Exchange Limited (NGX).
The statement, signed by Company Secretary Gertrude Olutekunbi, formally notified shareholders and the investing public of the development.
A Seasoned Insider Takes the Helm
Lasaco expressed strong confidence in Shobo’s leadership, noting that he is well-positioned to drive the company’s strategic ambitions and strengthen both operational and financial performance.
“We are confident that Mr Ademoye Shobo will advance the company’s strategic objectives and enhance its operational and financial performance,” the company stated.
From Audit Officer to CEO
Shobo’s appointment marks a remarkable full-circle journey within the organization.
He joined Lasaco in 1993 as an audit officer and steadily rose through the ranks over three decades, building hands-on experience across:
- Audit
- Technical operations
- Claims administration
- General underwriting
- Marketing and regional leadership
In 2000, he became Manager of the Kano branch before advancing to Regional Controller for the FCT and Northern Region. By 2013, he had risen to Deputy General Manager overseeing the technical division.
His career continued upward with his appointment as General Manager (Marketing), coordinating northern operations, and later joining the board in 2021 as Executive Director (Technical).
Academic & Professional Credentials
Shobo holds:
- A Bachelor’s degree in Chemistry from Lagos State University (1988)
- An MBA from Nasarawa State University (2023)
He is also an Associate Member of the Chartered Insurance Institute of Nigeria, a credential he earned in 1998.
What This Means for Lasaco
The appointment comes at a time when Nigeria’s insurance sector is navigating regulatory reforms, recapitalization pressures, and rising customer expectations.
With deep institutional knowledge and operational experience, Shobo’s leadership could provide:
✔ strategic continuity
✔ stronger execution focus
✔ improved underwriting discipline
✔ enhanced regional growth
For investors and policyholders, the message is clear: Lasaco is betting on experience, stability, and internal leadership strength to power its next phase.
