L-R : Mr. Ademola Abidogun Managing Director, Mr. Samuel Onukwue Non-Executive Director
BY NKECHI NAECHE-ESEZOBOR–The board and directors of Guinea Insurance Plc has assured it’s shareholders that is committed to Improving the growth of the company.
The Managing Director/Chief Executive Officer, Guinea Insurance, Ademola Abidogun, gave the assurance at the 63rd Annual General Meeting (AGM) held virtually, in Lagos.
L-R : Mr. Edobor Pius Executive Director, Mr. Ademola Abidogun Managing Director, Chinenye Nwankwo, Company Secretary, Mr. Samuel Onukwue Non-Executive Director Alhaji Hassan Dantata Non-Executive Director
He charged stakeholders of the company to look on the bright side of new things to come as the board was raring to go with its continuous growth and development initiatives.
“Today, business is no longer, as usual, I make bold to say that we are alive to the current economic realities and our single-minded pursuit is to pull out all the stops on our path to success and return the Company on the path of sustainable profitability”.
Earlier, the chairman of the company, Mr. Ugochukwu Godson, while presenting the financial statement to the shareholders said that the accelerated digitisation of the Company’s customers engagement platforms, supply-chain interactions, and internal operations paid off, as the Loss for the Year dropped significantly by 71.3%.
The chairman who was represented by Mr. Samuel Onukwue, a director of the company also said it recorded a 15.2% savings in its operational expenses, from N868.6 million in 2019 to N736.3 million reported in 2020.
This he attributed to executive management’s yearnings to achieve operational excellence while also embracing essential principles and methods to create significant improvement within the work environment.
Appluading the company’s performance, the Chairman, Progressive Shareholders Association of Nigeria, Boniface Okezie, acknowledged that “the year 2020 was understandably challenging, with the outbreak of a great disruption unleashed by a viral pandemic. The growth in the Nigerian economy has been crawling due to its infrastructure deficit, high interest rates, and security challenges, kidnapping, conflict between cattle herdsmen and farmers have all taken their toll on the Nigerian economy but, there was still a lot of scope for improvement.”
He commended the board and management for going over and above in ensuring a significant reduction in its loss profile by a whopping 71.3% in the year under review.
He further applauded the company for the strategic alliance with the Lagos State Government, through its Agency – Lagos State Parks and Gardens (LASPARK), as the Company’s sustainable development agenda has provided a powerful framework for the Company to engage in corporate social responsibility thereby, putting its social license to work along the Jibowu axis of Lagos.
