Sovereign Trust Insurance announces Durojaiye as new MD

Sovereign Trust Insurance Plc has announced the appointment of Dr Lucas Durojaiye as its new Managing Director (MD), following retirement of the immediate past MD, Olaotan Soyinka.
In a corporate disclosure on the Nigerian Exchange Ltd., the company said that the appointment, which takes immediate effect, had received the approval of its Board of Directors as well as the National Insurance Commission (NAICOM).
According to the statement, Mr Soyinka retired from the services of the underwriting firm in December 2025 after 27 years of meritorious service, including 10 years as managing director.
It noted that Mr Soyinka played a key role in the growth and stability of the company during his tenure.
The board expressed confidence that Mr Durojaiye’s leadership would further strengthen the company’s operations and sustain its commitment to value creation for shareholders and stakeholders.
Prior to his appointment, Mr Durojaiye served as general manager, doubling as Head, Northern Area Operations as well as Head, National Public Sector, where he contributed immensely to the company’s operational, technical and business development activities in the region.
He is an Associate Member of the Chartered Insurance Institute of Nigeria (CIIN) and the Nigerian Council of Registered Insurance Brokers (NCRIB) respectively.
Mr Durojaiye is a Chartered Fellow of the Institute of Credit Administration of Nigeria (ICA), Fellow of the Chartered Institute of Loan and Risk Management (CILRM), as well as a Chartered Fellow of the Certified Pension Institute of Nigeria (CPIN).
He is an alumnus of the Lagos Business School, having successfully completed the Senior Management Programme, SMP 51 of the school.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”

Education
U.S. reaches $4 million civil settlement, compliance agreement with WVUHS
The West Virginia United Health System, doing business as West Virginia University Health System, has agreed to pay $4,177,139 and entered a memorandum of agreement to resolve civil allegations of Controlled

Africa
Air Peace ends of Nigerians fleeing South Africans’ xenophobic attacks
Air Peace has concluded the federal government’s humanitarian evacuation from South Africa, returning the final batch of 308 Nigerians aboard its Boeing 777-200 aircraft.

NationWide
NBC scraps annual digital TV access fee
The National Broadcasting Commission says Nigerians will no longer pay annual Digital Access Fees under the renewed Digital Switch Over project.

Economy
TransDigm abandons acquisition of Stellant Systems after DOJ’s decision to block transaction
TransDigm Group has abandoned its attempt to acquire rival defence and industrial component manufacturer Stellant Systems.

Abuja
Trump pressures Tinubu on terror prosecutions, protection for Christians
The U.S. pressed the Nigerian government to do more to protect Christians from attacks, and that greater efforts and resources must be allocated to the safe return of IDPs.

Abuja
COREN Assembly: Tinubu seeks strong regulation, sanctions
Mr Tinubu said this at the opening of the 34th Engineering Assembly of the Council for the Regulation of Engineering in Nigeria in Abuja.





