By Ebunoluwa Sessou

The outgoing President of the Professional Insurance Ladies Association (PILA), Abimbola Onakomaiya, has described her two-year tenure as a period of growth, learning and transformation for women in the insurance industry.

Onakomaiya stated this during her valedictory lecture and awards presentation ceremony organised to appreciate individuals, institutions and stakeholders who supported her administration during her tenure as the 15th President of PILA.

The event attracted major stakeholders from the insurance, banking, oil and gas, and financial sectors, including regulators, insurance practitioners and corporate executives.

Speaking on her experience in office, Onakomaiya said the insurance industry in Nigeria was gradually gaining momentum and recognition within the nation’s economic framework.

According to her, the administration of Bola Ahmed Tinubu has created opportunities for the insurance sector to contribute meaningfully to economic growth and internally generated revenue.

She disclosed that PILA and other industry stakeholders had continued to collaborate with regulatory and professional bodies to strengthen the sector and improve insurance awareness across the country.

The outgoing president said the association had been working closely with the Chartered Insurance Institute of Nigeria, the National Insurance Commission, the Nigerian Council of Registered Insurance Brokers and the Nigerian Insurers Association to advance professionalism and support reforms within the insurance industry.

“It has been a wonderful journey and a learning curve not only for me but also for the executive members and all the women involved in the association,” she said.

Onakomaiya noted that one of her greatest achievements was creating greater awareness about the importance of insurance and strengthening collaboration between the insurance industry and other sectors such as banking, oil and energy.

She explained that the large turnout of stakeholders from various sectors at the event reflected the growing relevance of insurance in economic development.

“Insurance is important from cradle to grave. We are risk managers and professionals, and the industry is ready to go places,” she stated.

She further stressed the importance of compulsory insurance policies, noting that proper implementation would provide individuals and businesses with financial protection and risk management support.

The outgoing PILA president expressed gratitude for the recognition and accolades she received during the event, describing the successful completion of her tenure as an act of divine grace.

“It is not easy to start a journey and finish well. Finishing strong is by the grace of God. I feel blessed and grateful to God for His goodness and grace,” she said.

Speaking on her future plans, Onakomaiya said she intends to focus more on financial sustainability, mentorship and legacy building while continuing to contribute to the development of the insurance industry.

She disclosed that she hopes to leave behind a strong legacy not only for her children and grandchildren but also for future generations within the insurance profession.

The outgoing president also described leadership as a continuous process that requires vision, innovation and continuity.

“Leadership is a continuum. You build on what others have done and the next person will also build on what you have achieved,” she said.

Onakomaiya, however, announced that the Acting Managing Director of International Energy Insurance Plc, Joyce Udyachi, would officially assume office as the next president of PILA on June 26, 2026.

She expressed confidence in the incoming president’s ability to move the association forward, noting that fresh ideas and collaboration would continue to strengthen the organisation.
“I am sure she will do well and even better,” she added.

The guest speaker, Lere Baale, called on women and young professionals to embrace audacity, discipline and purposeful leadership in order to build enduring legacies that would positively impact future generations.

Speaking on the theme, “Creating a Victorious Generational Legacy through Audacity, Power and Purpose,” Baale stressed that true legacy is not built on titles, status or applause, but on the positive impact individuals create across generations.

“What kind of legacy do we have to leave behind? Legacy is not usually built by titles and it is not measured merely by applause. True legacy is created when one generation becomes a bridge to another,” he said.

According to him, transformational leadership is driven by courage, resilience and the willingness to challenge limitations.

“A position has never been shaped by people who merely exist there. It is shaped by people who dare,” he stated.

Baale further noted that leadership should not be viewed as a privilege but as a responsibility rooted in sacrifice, stewardship and service.

“Leadership is not an opportunity. Leadership is responsibility, sacrifice and stewardship,” he added.
In his address, the Commissioner for Insurance, Olusegun Omosehin, said Onakomaiya had demonstrated her capacity to deliver through the impactful operations and activities of PILA across the country.

Represented by the Deputy Director of the National Insurance Commission, Oluwatoyin Bello, Omosehin noted that the valedictory ceremony was not only about celebrating a woman of excellence but also about encouraging women to embrace purpose and contribute meaningfully to national development and global progress.

She congratulated Onakomaiya for the legacy she is leaving behind and for inspiring women to believe in their abilities and strive for greater heights.

Also speaking, the Senior Special Assistant to the Lagos State Governor on Climate Change, Titi Oshodi, stressed the need for stronger collaboration between financial institutions, insurers and policymakers to promote green finance, environmental sustainability and women’s economic inclusion.

Oshodi said she remains passionate about initiatives that positively impact women and create opportunities for inclusive economic growth.

According to her, the Lagos State Government is committed to promoting social inclusion and environmentally sustainable policies capable of improving livelihoods and building a stronger future for women and young people.

“I am very passionate about touching women’s lives and promoting the level of social inclusion that aligns with our mandate as a sustainable and environmentally aware state,” she said.

She explained that climate finance has become an important focus area for the state government and stakeholders within the financial ecosystem, noting that discussions had already commenced with financial institutions on expanding beyond conventional banking into green finance initiatives.

“Over the past year, we have had conversations with financial institutions to broaden their operations beyond traditional banking into green finance because that is where the future lies,” she stated.

Oshodi noted that Lagos State, as a major economic hub in Nigeria, possesses enormous resources and opportunities capable of driving eco-credit systems, eco-nexus initiatives and stronger Environmental, Social and Governance (ESG) performance frameworks.

She further disclosed that plans were underway to establish a climate finance preparedness clinic for financial institutions and other stakeholders within the financial sector.

According to her, the initiative would involve insurers, credit risk analysts, pension administrators and other industry players in order to deepen awareness of climate-related financial systems and sustainable economic practices.

“Our next project is the establishment of a climate finance preparedness clinic for financial institutions. This includes insurers, credit risk analysts and pension commissions so that stakeholders can become more climate-aware and environmentally responsible,” she said.

She added that the initiative would also create more economic opportunities for women and young people while encouraging environmentally sustainable business practices.

Oshodi commended the leadership of PILA and congratulated members of the association for their contributions to the insurance industry and the professional development of women.

In her goodwill message, the Managing Director of First City Monument Bank, Yemisi Edun, described Onakomaiya as an audacious, purposeful, resilient and focused leader whose tenure as President of PILA left remarkable legacies within the association and the insurance profession.

Wife of the former Governor of Ogun State, Olufunso Amosun, reiterated that Onakomaiya had consistently demonstrated resilience and readiness to take on challenges over the years, adding that her emergence as PILA president came as no surprise to those familiar with her leadership qualities and capacity.