Mutual Benefit Assurance Plc Invests $64M in Oil Assets, Exceeds Recapitalization Requirements

Mutual Benefit Assurance Plc, led by Chairman Dr. Akin Ogunbiyi, invests $64 million in oil producing assets to diversify into the energy sector, hedging against economic volatility.

Celebrating its 30th anniversary, the company exceeds industry recapitalization requirements ahead of the June deadline. The company's Managing Director, Olufemi Asenuga, emphasizes strategic positioning for compliance and aggressive business growth.

Additionally, the NEPAD Business Group Nigeria notes the importance of Nigeria's role in the African Continental Free Trade Area (AfCFTA) to boost exports and attract investments. Access Bank Plc plans to host the Africa Trade Conference in 2026 to enhance Africa's global trade influence.