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Mutual Benefits Life Assurance Ltd.

RC 681998

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0700 02 688825 2273 (0700 02 MUTUALCARE), 0201 888 9113

Aret Adams House,
233 Ikorodu Road, Ilupeju - Lagos

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Board of Directors



Mr. Soye Olatunji is a Chartered Accountant with a bachelor's degree in Chemical Engineering and an MBA from University of Lagos. He has over 30 years of cumulative experience in audit and tax consultancy, accounting and general management.

He was General Manager, Best Oils Limited Ibadan, Oyo State and Finance Director, Vitamalt Plc, Agbara Industrial Estate, Ogun State. He joined Ventures & Trust Limited (V&T) as Managing Associate and Chief Financial Officer in 2003.

He joined Mutual Benefits Group in 2007 as Executive Director Corporate Planning and Investment from where he left as Group Finance Director, to establish Mutual Exploration and Production Limited, in 2013.

He joined Mutual Benefits Group in 2007 as Executive Director Corporate Planning and Investment from where he left as Group Finance Director, to establish Mutual Exploration and Production Limited, in 2013. He is an alumnus of SAID Business School of University of Oxford where he attended the Oxford Advanced Management & Leadership Programme.

Mr. Biyi Ashiru-Mobolaji

Managing Director/CEO

Ashiru-Mobolaji is an Insurance graduate of Ibadan Polytechnic with an MBA from Lagos State University. He is an Associate Member of the Chartered Insurance Institute of Nigeria as well as an Alumnus of the Lagos Business School. Mr. Ashiru-Mobolaji started his Insurance career with a stint at Femi Johnson Insurance Brokers at the Executive Support Service Department. Thereafter, he proceeded to Great Nigeria Insurance Company Ltd. He also worked at Databoard Nigeria Limited, a company that pioneered On-line Insurance Service in Nigeria.

An astute goal getter and a dynamic Insurance practitioner, Mr. Ashiru-Mobolaji joined Mutual Benefits Assurance Plc in 1998 and rose through the ranks. In 2007, he became Senior Manager, Micro Insurance, after a comprehensive training with International Cooperative and Mutual Insurance Federation (ICMIF) in Manchester, UK. In 2009, he was seconded to Cameroun as GM/CEO of the Cameroun subsidiary of MUTUAL; Assurances Generales du Cameroun.

On his return to Nigeria in 2012, Mr. Ashiru-Mobolaji became the Head, Technical Operations while in 2013, he became Deputy General Manager, Business Development. He was promoted to General Manager; Marketing and Distribution Directorate in 2016 before becoming the Executive Director, Operations in 2017.

Mr. Femi Asenuga

B.Sc, M.Sc, ACII

Olufemi Asenuga holds a Master of Science Degree in Business Administration and a bachelor's degree in Insurance from the University of Lagos. He is an Associate of the Chartered Insurance Institute, Nigeria. Femi was the best graduating student in the finals of the B.Sc. Honours Insurance Examination. He won the Femi Johnson & Co. prize as well as the Unity Life & Fire Insurance Company award for being the best overall graduating student in the department of Insurance for 1989/1990 session.

Mr. Asenuga started his insurance career with Metropolitan Trust Insurance Company in 1993. He joined Custodian and Allied Insurance in 1995 as a pioneer staff and Assistant Manager in the Technical Department. He joined Mutual Benefits Assurance Plc in 1997 as a Deputy Manager in the Technical Department.

He rose through the ranks and was seconded to the Life subsidiary in 2007 as the pioneer Managing Director.


MPhil., ACA, CPA

Hakeem graduated with a first class honours degree in Agricultural Economics from Obafemi Awolowo University, Ile-Ife and also holds an M.Phil from the same institution. He is a member of different professional accounting bodies in Nigeria, Canada and United Kingdom and has won many academic laurels. An economist and chartered accountant with more than 20 years’ experience in finance, strategy and administration with multinational corporations in Nigeria, Canada and Ghana.

Prior to this appointment, Hakeem was Finance Director of Cadbury Ghana Limited, Ghana.

He has performed in senior management roles in the finance and strategic functions of Cadbury Nigeria Plc, Nestle Canada Inc, and Coca Cola (Nigeria) Bottling Company Plc.



Akinboye Oyewumi holds a bachelor’s degree in Business Administration from University of Maiduguri, Borno State, Nigeria and a Master’s in Business Administration from the Middlesex University, London, United Kingdom.

Mr. Oyewumi has over 30 years’ experience that covers strategy, business development, financial planning, mentoring and developing business leaders gained in both the private and public sectors in the United Kingdom and Nigeria. He is a serial investor with business interests in United Kingdom, Ghana, and Nigeria.

He is a serial investor with business interests in United Kingdom, Ghana, and Nigeria. He is the Group Managing Director of Silverage Group and with its sister companies are involved in Finance & Investments, Health & Safety Solutions for the energy and manufacturing sectors, Oracle Gold Partner and HP Partner, Enterprise Planning and Business Intelligence Solutions.



Lateef Bakare is chartered accountant with over 45 years post qualification experience. He retired in 1991 as the Quality Assurance Partner at Deloitte. He’s Founder and Managing Partner at Lateef Bakare & Co and Adetona, Bakare & Co respectively, both firms of accountants and insolvency practitioners.

He has both private and public sector experiences having served in various capacities in professional practice and director of several private and public companies including First Bank of Nigeria Limited.

He joins the board as an Independent Non-Executive Director with rich experience in Financial Assurance, Auditing, Taxation, Business, and process re-engineering.



Opeyemi Awoyemi is a serial technology entrepreneur and investor from Nigeria. He holds a Bachelor of Science in Computer Science and Engineering from the Obafemi Awolowo University in Nigeria and completed an executive education program for CIOs and Technology Leaders from CIO Institute, Haas Business School, and an executive education program at Wharton Business School on Innovation and Growth. He is also an MIT Legatum Foundry Fellow.

He is currently the General Partner of Fast Forward, an impact venture studio and early stage fund committed to unlocking prosperity in Africa through technology.

Opeyemi cofounded Jobberman in 2010 and helped build it to become the largest online recruitment platform in Africa. He served as the company’s first CTO, CMO, Head of Product, and eventually CIO.

He is also the Founder & Chairman of WhoGoHost, the largest domain and cloud hosting service in Nigeria.

He has domain expertise in technology innovation, technology leadership, product development, growth marketing, user experience, graphics and web design and online marketing; and he is an advisor and investor to a couple of tech startups in the Nigerian e-commerce, mobile, payment, new media, and entertainment space.

Ambassador. Babatunde O. Ajisomo

BSc, MSc

Ambassador Babatunde O. Ajisomo acquired a Master's Degree in Diplomacy and International Relations from the University of Lagos, a Certificate in Multilateral Diplomacy from the University of Malta, an E-Learning Certificate on Arbitration and Alternative Dispute Resolution from the United Nations Institute for Training and Research (UNITAR), Geneva, Switzerland; Diploma in Conflict Resolution and Negotiations from Clingendael Institute, The Hague, Netherlands.

He also acquired Professional Certification in International Relations, Law and Diplomacy at the Foreign Service Academy of the Ministry of Foreign Affairs, as well as a BSC (Hons) in Political Science from the University of Lagos in 1981. He also attended and obtained a Certificate in Strategic Leadership from Albion College of the University of London in 2009.

He served meritoriously as a Nigerian Diplomat for more than 31 years in various capacities in the Nigerian Missions in Cotonou, Republic of Benin; The Hague, Netherlands; Warsaw, Poland; Hanoi, Vietnam; and Bangkok, Thailand. He also distinguished himself in various Departments and Divisions at the Ministry of Foreign Affairs, in Lagos and Abuja.

Ambassador Ajisomo has attended several national, regional and international conferences and workshops in many parts of the world, and served in these workshops as keynote speaker, participant, panelist, moderator and facilitator.