Veritas Kapital Assurance Plc has appointed Mr Babatunde Irukera as Chairman of its Board of Directors, following a unanimous decision at the company’s 196th Board meeting held on 31 July 2025.
The appointment, which signals a significant step in the company’s efforts to reinforce its governance framework and promote sustainable growth, comes just months after Irukera was named a Non-Executive Director during the firm’s 195th Board meeting on 2 May 2025. His nomination had earlier been approved by the National Insurance Commission (NAICOM) and will now be presented for ratification at the forthcoming Annual General Meeting.
In a statement signed by Saratu Umar Garba, Company Secretary, the board and management extended their “heartfelt congratulations to Mr Babatunde Irukera on his new role” and expressed “full confidence that his wealth of experience, sound judgment, and leadership capacity will further strengthen the company’s governance structures and drive sustainable growth in line with corporate best practices.”
Mr Irukera, regarded as one of Nigeria’s most respected legal and regulatory experts, brings over three decades of experience in institutional reform, market regulation, and public interest litigation. He is the immediate past Executive Vice Chairman and CEO of the Federal Competition and Consumer Protection Commission (FCCPC), where he played a transformative role in shaping Nigeria’s consumer protection and competition law landscape.
Under his leadership, the FCCPC earned a reputation for regulatory innovation, transparency, and market fairness, spearheading the country’s first comprehensive competition law regime and garnering accolades for its enforcement efforts and stakeholder engagement.
Mr Irukera’s professional background spans advisory roles to federal and state governments, regulatory agencies, and global institutions. He has been involved in landmark aviation accident claims and multi-jurisdictional competition matters, and has contributed significantly to national legislation in areas such as aviation, consumer rights, digital trade, and market regulation.
Prior to joining FCCPC, he served as Managing Partner at Simmons Cooper Partners, with specialisations in commercial law, securities litigation, and corporate governance. He continues to consult on regulatory frameworks across Africa for regional bodies including ECOWAS, COMESA, and the African Continental Free Trade Area (AfCFTA).
A law graduate of Obafemi Awolowo University, Mr Irukera is called to both the Nigerian Bar and the US Bar. He is a member of the Nigerian Bar Association (NBA), American Bar Association (ABA), and International Bar Association (IBA), and has been recognised in notable publications such as Who’s Who Legal and The American Lawyer.
With his appointment, Veritas Kapital Assurance Plc reaffirms its commitment to strong corporate leadership, regulatory excellence, and long-term value creation for stakeholders. Mr Irukera is expected to steer the company through its next phase of strategic growth and regulatory alignment.
Faridah Abdulkadiri
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