BY NKECHI NAECHE-ESEZOBOR—Veritas Kapital Assurance Plc, has announced the appointment of Mr. Babatunde Irukera as its new Chairman.
This is contained in a notice to Nigerian Exchange Group ( NGX) and dealing members, that his appointment took place during the company’s 196th meeting held on the 31st of July, 2025, where the board unanimously appointed him as the new chairman.
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 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.
Irukera on his new role and express full confidence that his wealth of experience, sound judgment, and leadership capacity will further strengthen the Company’s governance structures and drive sustainable growth in line with corporate best practices.
He 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.
He 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, 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.
Irukera’s appointment to the Board reinforces Veritas Kapital’s commitment
to strong governance, regulatory excellence, and long-term value creatio
