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Cornerstone Insurance Plc has announced changes to its board of directors, with the exit of Mr. Emeka Anthony Ogbechie and the appointment of Mr. Ejakhaluse Zoe Omonkhogbe as a Non-Executive Director.
The company disclosed the development in a notice to the Nigerian Exchange Limited (NGX), shareholders, and the investing public on Friday.
Mr. Ogbechie, who served as a Non-Executive Director, stepped down after his tenure with the insurer. His replacement, Mr. Omonkhogbe, was approved by the National Insurance Commission (NAICOM) on July 28, 2025, and his appointment will be ratified at the firm’s next Annual General Meeting.
“This is to notify Nigerian Exchange Limited (NGX), investing public, and the shareholders of Cornerstone Insurance Plc of recent changes to the composition of the Board of Directors of the Company,” Cornerstone said in its filing.
A Seasoned Executive
Mr. Omonkhogbe has over 20 years of experience across finance, private equity, real estate, and professional services. He currently serves as Executive Director at Capital Alliance Nigeria, where he manages the firm’s finance and tax functions. He also sits on several boards as a Non-Executive Director, offering financial insight and governance expertise.
He holds a degree in Science and Education, an MBA as a Welch Scholar from the Jack Welch Management Institute, and is a Chartered Accountant and Certified Treasury Professional. He has also completed executive education programmes at the London School of Business and Finance and the University of Oxford.
Strengthening Corporate Governance
The company noted that his appointment reflects Cornerstone’s commitment to stronger governance and improved strategic oversight. His experience is expected to support the company’s long-term growth at a time when Nigeria’s insurance sector is witnessing reforms and tighter regulatory monitoring.
Recent Performance
Cornerstone recently announced a final dividend of 27 kobo per 50 kobo share for the financial year ended December 31, 2024.
In its Q1 2025 results, the insurer reported N13.8 billion in gross premiums, higher than N9.8 billion recorded in the same period last year. Claims also rose to N3.9 billion from N1.2 billion in March 2024, showing increased underwriting activity.
