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Mutual Benefits Assurance PLC.

RC 269837

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Board of Directors

Dr Akin A. Ogunbiyi


Dr. Ogunbiyi is a graduate of Agricultural Economics from the University of Ife. He is also an alumnus of the famous International Graduate School of Management, University of Navarra (IESE) Barcelona, Spain where he obtained an Executive Masters in Business Administration. In addition, he is an alumnus of Lagos Business School and Saïd Business School of the University of Oxford where he attended the Oxford Advanced Management & Leadership Programme.

An Associate of the Chartered Insurance Institute, London, Dr. Ogunbiyi did not only complete his Associateship examination in record time, but he also has the rare honour of securing the highest number of distinctions in the professional examination in two sittings. He had his insurance training in NICON from where he moved to start the Finance and Insurance Experts Limited - a multi-disciplinary consultancy firm, as pioneer Associate Director/Ag. Chief Executive. Dr. Ogunbiyi is a fellow of the Institute of Directors, Nigeria.

Dr. Ogunbiyi serves on the board of the Infrastructure Bank Plc and other Companies.

Mr. Femi Asenuga

B.Sc, M.Sc, ACII
Managing Director/CEO

Mr Asenuga is an Associate of the Chartered Insurance Institute, Nigeria. He holds a Master's of Science Degree in Business Administration and a Bachelor's Degree in Insurance from the University of Lagos.

He was the best graduating student in the finals of the B.Sc. Honours Insurance examination of the 1989/1990 session; 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 that year.

Mr. Asenuga started his Insurance career with Metropolitan Trust Insurance Company in 1993. He moved to Custodian and Allied Insurance as a pioneer Manager in the Underwriting Department.

Mr. Asenuga is an Alumnus of Lagos Business School and the Saïd Business School of University of Oxford where he attended the Oxford Advanced Management & Leadership Programme.

He joined Mutual Benefits Assurance Plc in 1997 as an underwriter. He rose to become the General Manager, Life Operations, which operated as a business unit of Mutual Benefits Assurance Plc. In 2007 Femi was seconded to Mutual Benefits Life Assurance Ltd. as pioneer MD/CEO. A position he held until December 2019, when he became Managing Director Mutual Benefits Assurance Plc.

Mr. Biyi Ashiru-Mobolaji

Executive Director, Operations

Mr. Biyi 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. In 2013 he became Deputy General Manager, Business Development. In 2016, Mr. Ashiru-Mobolaji was promoted General Manager; in charge of the Marketing and Distribution and was appointed as Executive Director, Operations in 2017.

Mr. Soye Olatunji


Mr. Soye Olatunji has over 30 years of cumulative experience in audit and tax consultancy, accounting and general management.

He was erstwhile 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 is an alumnus of Saïd Business School of University of Oxford where he attended the Oxford Advanced Management & Leadership Programme.

Prof. Pat Utomi


A fellow of the Institute of Management Consultants of Nigeria and founding Senior Faculty of the Lagos Business School- Pan African University, he was Director of the Centre for Applied Economics at the Lagos Business School. He has served in senior positions in government, as an adviser to the President of Nigeria, the private sector, as Chief Operating Officer for Volkswagen of Nigeria and in academia. He is the author of several Management and Public Policy books. His academic background covers a range from Policy Economics, Business, and Political Science to Mass communications. As an entrepreneur, he founded and co-founded companies that are active in fields including financial services, ICT, and media.

A Professor of the Social and Political Economy Environment of Business and Entrepreneurship. He has been a scholar-in-residence at the American University in Washington DC and the Havard Business School.

As leader of Civil Society, he is the founder of the Centre for Values in Leadership; and the Concerned Professionals, among other social sector enterprise initiatives.



Dr. Ebube graduated with a B.A. (Microbiology) from Indiana University, Bloomington, Indiana, USA in 1982. In 1986, he obtained a Doctorate degree in Optometry from Inter American University, San Juan, Puerto Rico, U.S.A. and in 2007 he graduated from Concord University School of Law, Los Angeles, California, U.S.A. with the Executive Juris Doctor degree.

Dr Ebube is an Optometrist and an active member of the Puerto Rico Optometry Association where he served as the Chairperson of its Political Action Committee. He is co-chair of FUTeLIV KONSULT, President and CEO of Eye Express 20-20, San Juan, Puerto Rico, USA. Dr. Ebube worked with the Augustus Group, an Insurance Partnership based in Troy, Michigan, U.S.A. as Vice-President and he is presently the Managing partner in Africa Legacy Group, an international consulting and business development group in Virginia, U.S.A.


B.A, M.A

Ms. Ahmed holds a Bachelor’s Degree in Communications from Bayero University, Kano and a Master’s Degree in Television from Goldsmiths’ College, University of London.

She was a Senior Producer, Journalist and Acting Editor with the British Broadcasting Corporation.

Ms. Ahmed was Co-founder and Media consultant for Blue Communications EMEA, from 2003 to 2006. Between 2006 and 2008, Ms. Ahmed worked with Shoreline Energy International as Head, Corporate Communications and Resort Group Limited, as Group Head, Corporate Communications.

Ms. Ahmed was Editor, Timbuktu Media; Publishers of Next Newspaper; Nigeria’s leading investigative Newspaper, for which she won many awards.

Between 2011 and 2016, Ms. Ahmed worked with Africa Practice R & B and Reinvent Media Ltd. as Associate Director and Partner respectively.

Ms. Ahmed is an articulate panel discussion moderator, television host and opinion contributor with a strong grasp of current affairs including local and international politics, the economy, the arts and entertainment.

She is also an influential member of the Nigerian Guild of Editors and also a British Council Chevening Scholar.

Since February of 2016, Ms. Ahmed has been a Partner with DM Nigeria Ltd. in charge of Media Content Training and Business Development. She was appointed a Non-Executive Director of Mutual Benefits Assurance Plc. in October, 2016.



Mr. Oyewumi is presently the Group Managing Director of Silverage Group. The Company is made up of a network of diverse businesses including Information Technology and finance.

Mr. Oyewumi holds a BA in Business Administration from University of Maiduguri, Borno State, Nigeria, as well as an MBA in Business Administration from the Middlesex University, London, United Kingdom.

He was appointed as a Non-Executive Director of Mutual Benefits Assuarance Plc. in January, 2016



Mr. Dikko holds a bachelor degree in Economics from Queen Mary College, University of London.

He started his finance career as a senior supervisor at Habib Bank Nigeria Limited in 1997, after which he joined Intercity Bank Plc in 1998 and later became the Managing Director in 2001, a position he held until 2005. He went on to serve as an Executive Director of Unity Bank Plc, a position he held from 2005 until 2010. He is presently the Chairman, Board of Directors of The Infrastructure Bank and Legacy Pension Managers Limited and sits on the board of several public and private companies.

He was appointed a Non-Executive Director of Mutual Benefits Assurance Plc. in January 2016.