Veritas Kapital Assurance Plc has appointed Mr. Babatunde Irukera as Chairman of its Board of Directors, following a unanimous resolution at the company’s 196th Board meeting held on July 31, 2025.

The appointment, which underscores the firm’s commitment to strengthening corporate governance and accelerating sustainable growth, comes just three months after Irukera joined the board as a Non-Executive Director during its 195th meeting on May 2, 2025.

His nomination was subsequently approved by the National Insurance Commission.

The company noted that his elevation to the role of Chairman will be presented to shareholders for ratification at its upcoming Annual General Meeting.

“The Board and Management extend their heartfelt congratulations to Mr. Babatunde 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,” said a statement signed by Saratu Umar Garba, Company Secretary.

Mr. Irukera is widely regarded as one of Nigeria’s leading authorities in legal and regulatory affairs, with more than 30 years of experience spanning institutional reform, market regulation, and public interest litigation. He brings to Veritas Kapital a distinctive combination of legal expertise, policy depth, and strategic leadership cultivated through decades of service in both the public and private sectors.

He previously served as the Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission, where he played a pivotal role in overhauling Nigeria’s consumer protection framework and spearheaded the implementation of the nation’s first comprehensive competition law regime.

Under his leadership, the FCCPC emerged as a model for regulatory innovation, transparency, and market fairness, earning widespread recognition for its proactive enforcement approach and effective stakeholder engagement.

Mr. Irukera’s career encompasses advisory roles to federal and state governments, regulatory agencies, and international organizations, with experience handling high-profile aviation accident claims and complex multi-jurisdictional competition cases.

He has been instrumental in shaping key national legislation in areas such as consumer protection, aviation, digital trade, and competition law. A former Managing Partner at Simmons Cooper Partners, his legal expertise spans commercial law, securities litigation, corporate governance, and stakeholder engagement.

Beyond Nigeria, Irukera is actively involved in regulatory development across Africa.

He currently serves as a consultant to regional bodies including ECOWAS, COMESA, and AfCFTA, advising on digital trade frameworks and competition enforcement.