Honourable (Alhaji) Oladipo Sharafadeen Babatunde, popularly known as Laka Omo Alubarika, has congratulated Dr. Lucas A. Durojaiye on his appointment as the new Managing Director and Chief Executive Officer of Sovereign Trust Insurance Plc.
He said his emergence is well-deserved and timely for the Nigerian insurance industry.
Dr. Durojaiye was recently appointed by the Board and Management of Sovereign Trust Insurance Plc following the retirement of Mr. Olactan Soyinka in December 2025, after 27 years of meritorious service to the company.
In a congratulatory message issued in Abuja on Saturday, Hon. Laka who is the Executive Director (Projects), Misterich Limited, Abuja; Chairman of Tupecs Int’l Limited, Tunde Danngote Autos Ltd, Fatima Abike and Sons Nigeria Limited, and Executive Director of Al Ahad Group/Ahad International FZC Ltd said the emergence of Dr. Durojaiye reflects the company’s commitment to excellence, professionalism and institutional continuity.
According to him, Dr. Durojaiye’s wealth of experience, spanning over 27 years in insurance brokerage, underwriting, risk management, business development and corporate leadership, positions him to deliver innovative reforms that will strengthen Sovereign Trust Insurance Plc’s market presence and customer confidence.
“This appointment is not only well-deserved; but also reassuring for stakeholders in the insurance industry. Dr. Lucas Durojaiye is a seasoned professional with proven leadership capacity, and I am confident that his tenure will usher in a new era of growth, stability and service excellence for Sovereign Trust Insurance Plc,” Hon. Laka stated.
He further noted that the smooth leadership transition demonstrates the company’s effective succession planning culture and commitment to long-term sustainability.
Hon. Laka, a dedicated member and key stakeholder of the All Progressives Congress (APC) in Offa Local Government, also highlighted the personal and professional relationship between himself and the new MD/CEO, revealing that both men are prominent members of the Elite League of Extraordinary Gentlemen (ELXG) — with Dr. Durojaiye serving as the Board of Trustees Chairman of the club, while he (Laka) is its Treasurer.
“This shared platform of leadership and integrity further reinforces my confidence in Dr. Durojaiye’s capacity to steer the company to greater heights,” he added.
Hon. Laka, who was among the leading chairmanship aspirants in Offa Local Government in 2024 and is currently aspiring to represent Essa/Shawo/Igbodun Constituency in the Kwara State House of Assembly ahead of the 2027 general elections under the APC platform, urged staff, partners and stakeholders of Sovereign Trust Insurance Plc to give the new MD/CEO maximum support.
He expressed optimism that Dr. Durojaiye’s leadership would enhance service delivery, deepen public trust and strengthen the company’s contribution to Nigeria’s financial services sector.
