The Board of Directors of LASACO Assurance Plc has approved the retirement of Mr Razzaq Abiodun as its Managing Director effective May 16, 2026.
In a statement by the company secretary, Mr Gertrude Olutekunbi, named Mr Ademoye Shobo as the Acting MD/CEO following Abiodun’s retirement.
Since he took over as MD/CEO in 2021, Abiodun grew LASACO’s revenue from N13 billion to N30 billion in 2025, declared profit and paid dividends for all the years. Abiodun has over 30 years experience in the insurance industry spanning claims, underwriting and marketing.
“We express our sincere appreciation for your dedicated service, leadership and contributions to the growth and success of LASACO Assurance Plc throughout your tenure. “We shall continually seek your support and collaboration and urge you to be an ambassador of LASACO,” said the Company Secretary.
