Board Profile

With privatisation, a major strength of NIC is the pre-eminent quality of its Board of Directors. The Board comprises distinguished and respected Nigerians and Ugandans who have made their mark in their professions and businesses.


Remi Oluwude, Chairman, National Insurance Corporation
Mr. Olowude, an Economist, Chartered Insurer and International investor, is the chairman of the Board. Mr. Olowude who has a rich inter-disciplinary background is the Vice Chairman of Industrial And General Insurance Company Limited (IGI).
A self-motivated achiever, Mr. Olowude holds a Master Degree in Economics and has completed the coursework for the award of a Doctorate Degree from the University of Santa Clara, California, USA. He has deployed his international business expertise, professionalism and vision to build a conglomerate with interests in various business sectors spanning financial services, telecommunications, oil and gas, mortgage banking and aviation.

Managing Director

Mr Folayan is a seasoned insurance practitioner with a Bsc in Insurance from the University of Lagos, Nigeria and an MBA from the University of Ilorin, Kwara State, Nigeria. He is a Fellow of the Chartered Insurance Institute, London (since 1993); Fellow of the Chartered Insurance Institute, Nigeria (since 2002) and member of other professional bodies and associations. He is an insurance professional with analytical skills and entrepreneurial drive. His impactful and function-relevant capability for leadership is grounded in his vast knowledge of the West African insurance industry as well as his rich experience in Life and Non-life insurance.

He has over 28 years experience in the insurance world, starting with Sakiina Insurance Brokers, Nigeria in 1983. He eventually rose in the insurance profession to become Acting Managing Director of Elmac Assurance (Nigeria) Limited, a composite Insurance company in 2001 and later Managing Director of the same organisation in July 2002.

His experience cuts across all aspects of Life Insurance and Non-Life insurance practice including, underwriting, claims, special risks (oil and gas) etc.

Martin Aliker

Dr Aliker is an influential and highly respected Ugandan. He has acquired the experience of corporate business management from his Chairmanship and Directorship of other leading companies in Uganda and abroad and his public service activities.
Dr. Aliker who is a Presidential Advisor and Chancellor, Gulu University holds a Doctorate of Dental Surgery from Northwestern University USA and obtained a Licentiate in Dental Surgery from the Royal College of Surgeons, (RCS), England.

Mr. Rotimi Fashola

Mr. Fashola is Chartered Insurance practitioner of over 22 years cognate and distinguished carrier in insurance management and practices. He is an alumnus of the prestigious Obafemi Awolowo University Nigeria and Associate of the Chartered Insurance Institute of London, Associate of Chartered Institute of Arbitration, London.
Mr. Fashola holds with distinction the Diploma of West African College of Insurance and Risk Management and is a presently Executive Director, Industrial And General Insurance Company Limited of Nigeria, the parent company of NIC. An insurance scholar and teacher, he is a member of the Academic Board of the West African Insurance Institute of the Gambia (WAII).

Mr. Bernard M Katureebe

Bernard is qualified both as a solicitor of England and Wales and enrolled as an Advocate of the High Court of Uganda. Bernard qualified as a solicitor with Edwin Coe Solicitors an established law firm in the city of London. Upon qualification as a solicitor he joined the Banking and Finance group of DentonWildeSapte a leading international law firm based in the city of London.
He is currently a Senior Partner at Synergy Solicitors & Advocates. Bernard holds a Bachelor of Laws Degree (LLB) from the University of Wales Cardiff and a Diploma in Legal Practice from the Cardiff Law School.


Mr. Michael Tukei

Mr. Tukei who is Assistant Commissioner in the Ministry of Finance Planning and Economic Development, Uganda is an Economist who obtained a Masters Degree in Development Economics from the Williams College in Massachusetts in the USA in June 1997. He also earlier obtained a Post Graduate degree in Monetary Economics from University of Glasgow in Scotland, UK.

He worked as a Financial Analyst at the New York Branch of Sanwa Bank Limited where he had responsibility for Compliance, Risk Management, Industrial Research and Merchant Banking.

Mr. Tukei was the desk officer of the World Bank funded Financial Sector reform Programme (1993 – 1999), he was responsible for the establishment of the Ugandan Anti Money Laundering Committee and also served as a Director of the Capital Markets Authority (CMA) (1996 – 2002).

Mr. Charles Tukacungurwa

Mr. Tukacungurwa who holds a Bachelors degree in Botany and Zoology and later on a Masters degree from Aberdeen, Scotland in Plant breeding and genetics has over 30 years of vast experience in various fields of agricultural research, agricultural policy analysis and natural resources.

He worked in various capacities in the then Agricultural Secretariat which later became Agricultural Policy Secretariat under the Ministry of Finance, Planning and Economic Development. The Secretariat implemented major World Bank funded projects.

Mr. Tukacungurwa currently works as a private Consultant after retiring from the public sector.

Mr. Michael Kaggwa

Mr. Kaggwa is an Associate of the Chartered Insurance Institute of London (ACII) and a Fellow of the Insurance Institute of Uganda (FIIU).

A chartered practitioner of over 35 years cognate experience in both the Public and Private insurance management in Uganda, he founded the Uganda Insurance Brokers Association (UIBA) which body he chaired twice between 1971 and 1991. He was also twice the President of the Insurance Institute of Uganda (IIU). He worked in Hogg Robinson Uganda Limited (now AON Uganda Limited) where he rose to become the first indigenous Managing Director.
He is presently an Insurance and Risk management Consultant