Why We Sacked Former Excutive Management, By UnityKapital Assurance

The Chairman of UnityKapital Assurance Plc, Henry James Semenitari, has given reasons why the company sacked former Managing Director , Kins Ekebuike and John Abu Oyidih , erstwhile Executive Director , Finance and Administration.

In a statement endorsed by the Acting Managing Director, UnityKapital Assurance Plc, Olugenga Olasogba and made available to the Guardian office in Abuja, quoted James as saying that the executives were involved in financial mismanagement and non-compliance with the corporate governance .

“The former two executive management staff were sacked in December 2014 as a result of financial mismanagement and non-adherence to corporate governance .” Meanwhile , Mal. Lawal Mijinyawa – Executive Director (Operations) resigned his appointment in December.” The chairman said

As a result, Olasogba Olugbenga, has been appointed the Acting Managing Director to oversee the company, while Michael Dogo and Nkiru Achara were appointed to oversee the offices of Executive Directors Operations, Finance and Admin respectively.

The Chairman also acknowledged the efforts of the founding fathers Of the legacy companies who were pivotal to the original plan of consummating the company and which has created the platform on where the company stands today.

” Part of our strategy as we move ahead is that, we are resuscitating the clientele base of these legacy companies in other to maximize the full potential of the company to take it to its next level.”

“As a going concern, UnityKapital Assurance Plc. will continue to focus on key growth sectors of the Nigerian Economy with our enhanced capital base to meet the needs of all stakeholders. The financial year 2014 will be a better business year with the proactive step and cost management mechanism that the new management has taken to reposition the company for enhanced profitability.” the Chairman said.

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