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Nigeria takes over WAICA leadership as Eddie Efekoha emerges President

The Group Managing Director, Consolidated Hallmark Insurance Plc, Mr. Eddie Efekoha has become the 40th President of West African Insurance Companies Association (WAICA).

Efekoha was elevated to the position at the Closing Dinner of the West African Insurance Companies Association (WAICA) 50th Anniversary and Conference 2023, in Lagos.

Efekoha is a Fellow of the Nigerian and United Kingdom Institutes; Group Managing Director, Consolidated Hallmark; 49th President & Chairman of the Governing Council of Chartered Insurance Institute of Nigeria, CIIN, between 2018-2020 and 22nd Chairman of the Past President of Nigerian Insurers Association (NIA) from 2016-2018.

Mr Efekoha who said that he is mindful of the many accomplishments of WAICA pledged to do all within his capacity to sustain the gains of the regional body even as he committed himself to breaking new grounds.

“My election today presents another opportunity for all stakeholders in the WAICA family to re-appraise

the state of WAICA and chart a new course to strengthen the body for more far-reaching contributions

to the socio-economic development of our subregion.

During my tenure, I hope to galvanize the collective knowledge, strength, and willpower of members to build the WAICA of our dream and aspiration. I pledge to continue to uphold and promote the ideals of WAICA as we collectively strive to take the Association to the next higher level by focusing more on areas that require improvement in order to actualize our desire to build a sound, efficient and financially stable WAICA capable of adding value to its members across West Africa.

In doing this, my immediate tasks will include the following:

1. Ensure proper restructuring and staffing of the Secretariat

2. Work with WAISA to harmonize policies and regulations within the subregion, and

3. Make WAICA a repository of information on insurance in West Africa.

To achieve this, the West African Insurance industry need to collectively, and in unity, step up its actions

by being the backbone of the various economies, provide the much-required peace of mind for all stakeholders in these crucial times and create an enabling environment for industries and economies in the sub-region. I promise solemnly that we will work hard to reinvent WAICA for more value addition.

I will work closely with other stakeholders including the Regulators across the sub-region to give

WAICA the required impetus and support to serve the insurance industries and the nations better.

Together, from the chores of Gambia to Ghana to Liberia to Nigeria and to Sierra Leone, we shall work together to ensure that insurance takes its rightful place in the Anglophone West African States and will become the envy of all on how insurance should be practiced for profitability, in unity and with integrity, professionalism, hindsight and foresight.

“At this juncture I will like to express my appreciation in particular to the Chairman of this occasion Venerable Olusola Ladipo-Ajayi, the commissioner for Insurance, Mr Sunday Thomas, and other commissioners of insurance from member countries here present, Elders of our industry, past presidents and council members of WAICA, Presidents/chairpersons of Trade bodies in the insurance industry such as NIA, NCRIB and ILAN, MDs of insurance institutions, our distinguished colleagues, friends and relations who came from far and near to witness my swearing-in as the 40th President of WAICA.

“To all members of the Local Organising Committee ably led by Mrs Bola Odukale and supported by

Mrs Yetunde Ilori, the DG of NIA and the NIA Secretariat staff, I am grateful for your tireless efforts at ensuring that this event is successful.

Let me also use this opportunity to appreciate the Secretary General of WAICA, Mr. William Coker, who very shortly will proceed on retirement for the contributions made to WAICA over the years.

Thank you to our partners in the media for their support and commitment to WAICA and all the member countries’ Insurance Industries at large. The journey to a new WAICA has just begun and we need more support and collaboration.

“Coming nearer home, I am immensely grateful to the Board and Management of CHI Group for supporting me in my desire to give back to this industry that has given me so much over the years,” he concluded.

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