NAICOM sacks Moore as Goldlink Insurance MD


Goldlink Insurance Plc on Monday announced the sack of its Managing Director, Mrs Funke Moore by the National Insurance Commission (NAICOM) effective from January 18.

Mr Tobi Olaleye, Goldlink Insurance Company Secretary/Legal Adviser, stated this in a letter to the Nigerian Stock Exchange (NSE) and the investing public.

Olaleye said that NAICOM removed Moore and reconstituted a new board for the insurance company.

He said that the commission approved the appointment of Mr Kenneth Egbaran as the new Chief Executive Officer of the insurance firm.

Olaleye said that NAICOM also appointed Nahim Ibraheem as the Chairman of the newly constituted board.

According to him, other members of the new board are; Adeyinka Olutungase, Olarenwaju Suliamon, Tonbofa Eva and Farouk Yola.

The News Agency of Nigeria (NAN) reports that NAICOM took over the management of Goldlink in 2012 and appointed an interim management board for the company in furtherance of its regulatory oversight function.

The commission had last year approved a recapitalisation scheme for the insurance company in a bid to restructure the company and return it to profitability.

The company is yet to take any step in the capital raise process. (NAN)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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