With effect from May 16, 2026, the Lasaco Assurance Plc Board of Directors has authorised Mr Razzaq Abiodun’s retirement as Managing Director.
BrandSpur news brand reports that following Abiodun’s retirement, Mr Ademoye Shobo was named Acting MD/CEO in a statement by Lasaco Company Secretary Mr. Gertrude Olutekunbi.
Abiodun increased Lasaco’s revenue from N13 billion to N30 billion in 2025 after taking over as MD/CEO in 2021. He also declared a profit and paid dividends every year. He has worked in the insurance business for more than 30 years, handling marketing, underwriting, and claims.
The statement from the Secretary partly reads: “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,” it added.
