STACO Insurance Plc Names New MD/CEO After Director's Death
Staco Insurance Plc filed a corporate action notice on 29 July 2026 disclosing the death of its Managing Director/CEO and the appointment of two new principal officers. The filing notifies NGX, shareholders, and the investing public of these leadership changes, which remain subject to final approval by the National Insurance Commission (NAICOM).
Staco Insurance Plc has notified the Nigerian Exchange Limited (NGX) of the death of its Managing Director and Chief Executive Officer, Dr. Olawale Banmore, which occurred on Saturday, 27 December 2025. The Board of Directors expressed condolences to his family and acknowledged his contributions to the company's strategic direction and operational growth during his tenure.
Following his passing, the Board announced the appointment of two new principal officers to its Executive Management Team, pending final approval from the National Insurance Commission (NAICOM).
Dr. Agboola Omoniyi Oladipupo has been appointed as the new Managing Director/CEO. He previously served as Executive Director, Technical and Operations and acting MD/CEO at Royal Exchange Prudential Life Plc, and also held the role of MD/CEO at Armstrong Insurance Brokers Limited. He holds a PhD in Entrepreneurship and multiple professional fellowships including from the Chartered Insurance Institute of Nigeria (CIIN).
Ms. Elsie A. Akpabio has been appointed as Executive Director, Corporate Services and General Counsel. The filing was dated 29 July 2026 and originates from the company's head office in Lagos.
