Staco Insurance, National Insurance Commission (NAICOM), CEO, Dr. Sakiru Oyefeso, Sack, Mr Bayo Fakorede, NSE, Nigerian Stock Exchange,
Staco Insurance

In a bid to maintain a good name in the Nigerian insurance sector, Staco Insurance Plc, has notify its shareholders and the Nigerian Stock Exchange on the dismissal of one of its staff.

After a meeting held with the Board of Directors on the 30th of July, 2018, the insurance company passed a resolution dismissing its Chief Executive Officer, Dr. Sakiru Oyefeso.

Oyefeso was dismissed on the grounds of financial misappropriation, abuse of office and breach of corporate governance best practices.

In other to have good operations in the company, Mr Bayo Fakorede, has been recommended by the board as the new Chief Executive Officer of the company, however, this is subject to the approval of the National Insurance Commission (NAICOM), the company’s primary regulator.

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