The National Insurance Commission has approved Ademoye Shobo as the new Managing Director and Chief Executive Officer of Lasaco Assurance Plc.

The announcement was made in a statement on Tuesday, signed by the company’s Secretary, Gertrude Olutekunbi.

Shobo’s tenure officially began on February 6, 2026.

The statement noted that the board expressed confidence in Shobo’s capacity to lead the company’s strategy and enhance its overall performance.

“Lasaco Assurance Plc (the Company) hereby notifies the Nigerian Exchange Limited (NGX), its esteemed shareholders, and the investing public that the National Insurance Commission (NAICOM) has approved the appointment of Mr. Ademoye Shobo as the Company’s Managing Director /Chief Executive Officer effective 6th February, 2026, the company stated.

The company stated that Shobo started at Lasaco Assurance in 1993 as an Audit Department officer and progressed through the organization to become Managing Director and CEO.

In 2025, Lasaco appointed Shobo as Acting Managing Director and CEO following the retirement of Mr. Razzaq Abiodun on November 6, 2025.

Abiodun had been appointed Managing Director in September 2021 after the retirement of the former MD, Mr. Segun Balogun, having previously served as Deputy Managing Director (Technical).

At the time of Shobo’s acting appointment, the company noted that his extensive experience in insurance operations and strategic management would provide continuity and stability.

Shobo earned a Bachelor of Science degree in Chemistry from Lagos State University in 1988 and a Master of Business Administration from Nasarawa State University in 2023.

He became an Associate Member of the Chartered Insurance Institute of Nigeria in 1998.

Throughout his career at Lasaco, Shobo has held several leadership positions.

In 2013, he was promoted to Deputy General Manager, overseeing the Technical Division, and later served as General Manager (Marketing), coordinating marketing activities across the Northern Region.