Veritas Kapital Assurance Plc (NGX: VERITASKAP) has appointed Mr. Babatunde Irukera as the Chairman of the Board of Directors of the Company.
The Board and Management of the Assurance company notified the Nigerian Exchange Limited, its Shareholders, Stakeholders and the general public that the Board unanimously appointed Mr. Irukera at its 196th meeting held on the 31st of July 2025.
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Mr. Irukera had earlier been appointed as a Non-Executive Director by the Board at its 195th meeting on Friday, May 2, 2025. His appointment as a Non-Executive Director was recently approved by the Company’s primary regulator, the National Insurance Commission (NAICOM), and will be presented to shareholders for ratification at the forthcoming Annual General Meeting scheduled to be held later this year.
Profile – Babatunde Ayokunle Irukera
Babatunde Irukera is a respected legal and regulatory expert with over 30 years of experience driving institutional reform, market regulation, and public interest litigation in Nigeria and internationally. He brings to the Board of Veritas Kapital Assurance Plc a rare blend of legal acumen, policy insight, and strategic leadership gained from decades of service across the public and private sectors.
He is the immediate past Executive Vice Chairman/CEO of the Federal Competition and Consumer Protection Commission (FCCPC), where he led the
transformation of Nigeria’s consumer protection landscape and pioneered the country’s first comprehensive competition law regime. Under his leadership, the FCCPC became a model for regulatory innovation, accountability, and market fairness.
Mr. Irukera has advised and represented the Federal and State Governments, regulatory agencies, and international organizations in complex, high-impact
matters, including major aviation accident claims and multi-jurisdictional consumer and competition cases. He has also been instrumental in shaping
national legislation and regulatory frameworks across consumer protection, aviation, digital trade, and competition law.
A former Managing Partner at Simmons Cooper Partners, his work spans commercial law, securities litigation, corporate governance, and stakeholder engagement. He is also actively engaged in Africa-wide regulatory development, currently consulting for regional bodies such as ECOWAS, COMESA, and AFCFTA on digital trade and competition enforcement.
Called to the Nigerian Bar and admitted to practice in the United States, Mr. Irukera holds a law degree from Obafemi Awolowo University. He is a member of
the Nigerian Bar Association (NBA), American Bar Association (ABA), and International Bar Association (IBA). His contributions to law and regulatory reform have earned him several recognitions, including citations in Who’s Who Legal and The American Lawyer.
About the Company
Veritas Kapital Assurance Plc was initially incorporated under the name of Kapital Insurance Company Limited as a private limited liability Company On the 8 August, 1973. on 14 March 2007, it acquired and merged withs two other insurance companies became a public limited liability group. Its shares are quoted on the Nigerian Exchange Group.
Its Head Office is located at 497 Abogo Largema Street, Off constitution Avenue, Central Business District, Abuja Nigeria.
The Company has 93.5% equity interest in Veritas Health Care Limited and 70% interest in Veritas Glanvills Pensions Limited and 51.53% in Gold link Insurance Plc. The group comprises of two subsidiaries, an associate and the parent Company.
The principal business of the group is underwriting of non-life insurance risks.
The subsidiaries activities are:
- Veritas Glanvills Pensions Limited, the administration and management of pension fund assets.
- Veritas Health Care Limited provision of health insurance.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
