By ABDUL-KHALIQ OLALEKAN
The management of Royal Exchange Plc,over the weekend, confirmed the appointment of Alhaji Auwalu Muktari, as the substantive Group Managing Director (GMD) of the company.
A statement from the firm and made available to Business247 over the weekend, said the appointment took effect from June 15, 2016.
While announcing the appointment, the Chairman of Royal Exchange Plc, Mr. Kenneth E. Odogwu, commended Alhaji Muktari’s esteemed service and contributions towards the continuous expansion of the Group, especially, when he was in acting capacity. He also affirmed that the Board of Directors believes in Muktari’s ability to drive the Group towards greater profitability and growth in the years ahead.
The Chairman further added that with Alhaji Muktari’s extensive experience and knowledge of the insurance industry, his primary assignment would be to drive the continuous growth and profitability of Royal Exchange and make the company a market leader in the financial services industry in Nigeria.
The new GMD completed his first degree in Business Administration and later Masters Degree in Banking and Finance at Bayero University Kano in 1993 and 1995 respectively. He also attended Ahmadu Bello University, Zaria where he obtained a Diploma in Insurance at Credit Level in 1983.
He started his working career with the Kano based insurance company, Kapital Insurance Limited and rose through the ranks to become Head of Re-insurance Department.
Alhaji Muktari joined Royal Exchange Assurance Nigeria (as it was then known) in 1995 as Branch Manager in Kano, with direct oversight and responsibility over the activities of Bauchi, Maiduguri and Yola offices of the company. In 2003, he became the Regional Director, Abuja.
He left Royal Exchange Plc to become the Managing Director/Chief Executive Officer of Yankari Insurance Co. Ltd in 2008, (later called Fin Insurance Co. Ltd) and returned to Royal Exchange as the Group Executive Director, Marketing and Sales in 2010.
Alhaji Muktari was elected in 2010 as an associate member of the Institute of Directors, Nigeria; and is also a professional member of the following bodies: Associate Member, Institute of Management Specialist, UK; Member, Chartered Insurance Institute of Nigeria; Associate Member, Institute of Management and is currently the President of the Institute of Sales and Marketing Management of Nigeria.
He is an alumnus of Harvard Business School, USA and has attended various Executive Management and Development programmes.
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