The National Insurance Commission (NAICOM) has officially endorsed the appointment of Ademoye Shobo as the Managing Director and Chief Executive Officer of Lasaco Assurance Plc, formalising his leadership role from 6 February 2026. This regulatory approval was communicated in a formal statement issued by the company secretary and shared with stakeholders, including the Nigerian Exchange Limited (NGX).
The firm’s board highlighted its confidence in Mr. Shobo’s capacity to drive strategic execution and enhance performance across operations and financial outcomes. Prior to this confirmation, Shobo had been serving as Acting MD/CEO following the retirement of his predecessor, Razzaq Abiodun, in late 2025.
Ademoye Shobo is a long-standing insurance professional with over three decades of institutional experience at Lasaco Assurance, having progressed through a sequence of technical and managerial roles. He joined the company in 1993, beginning in the Audit Department before ascending through leadership assignments in technical operations and regional marketing. His promotions reflect both operational competence and sector experience.
Shobo holds a Bachelor of Science in Chemistry from Lagos State University and an MBA from Nasarawa State University. He is also an Associate Member of the Chartered Insurance Institute of Nigeria, a qualification he attained in 1998. Over the years, he has attended numerous professional courses at home and abroad, reinforcing his industry expertise.
Before assuming the substantive MD/CEO role, Shobo had been confirmed in an acting capacity after the retirement of Mr. Abiodun, who led the firm through a period of transformation. This ensured continuity in governance and operational strategy during the leadership handover.
Shobo’s appointment comes at a time when Lasaco Assurance is actively pursuing capitalisation and sector reform strategies aligned with regulatory requirements. In late 2025, shareholders approved plans to raise fresh capital aimed at expanding the company’s financial base and underwriting capacity. This initiative reflects a wider industry push to strengthen resilience and competitiveness amid dynamic market conditions.
By confirming Shobo in the CEO role, NAICOM has signaled its support for leadership continuity and regulatory confidence in Lasaco Assurance’s strategic direction. The move aligns with broader efforts to ensure strong governance, operational stability, and growth in Nigeria’s insurance sector.
