In a statement issued by the company secretary, Mr. Gertrude Olutekunbi, the board announced the appointment of Mr. Ademoye Shobo as Acting Managing Director/Chief Executive Officer, with immediate effect.
Mr. Abiodun, who assumed leadership in 2021, is credited with driving significant growth during his tenure. Under his stewardship, Lasaco’s revenue increased from N13 billion to N30 billion in 2025, with the company recording profits and paying dividends in every year of his leadership.
A veteran of the insurance sector, Abiodun brings more than 30 years of experience across claims, underwriting, and marketing.
The company secretary expressed appreciation for his service, noting: “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.”
Mr. Shobo’s appointment marks a new chapter for the company as it prepares for continued growth and strategic development under fresh leadership.