The Board of Royal Exchange Plc, has announced the confirmation of Alhaji Auwalu Muktari as substantive Group Managing Director, with effect from June 15, 2016.
This was made known at the end of a meeting of the board of the company in Lagos recently.
Chairman of the Board, Mr. Kenneth Odogwu, said Muktari, was appointed acting Group Managing Director of the Group in January 2016.
He commended his esteemed service and contributions towards the expansion of the Group, affirming that the board believes in Muktari’s ability to drive the group towards greater profitability and growth in the years ahead.
He added that with his extensive experience and knowledge of the insurance industry, his primary assignment would be to drive the continuous growth and profitability of Royal Exchange and make the company a market leader in the financial services industry in Nigeria.
Muktari obtained his First Degree in Business Administration and later his Masters Degree in Banking and Finance at Bayero University Kano in 1993 and 1995 respectively. He also attended Ahmadu Bello University Zaria where he obtained a Diploma in Insurance in 1983.
He started his working career with the Kano- based insurance company, Kapital Insurance Limited and rose through the ranks to become Head of Re-insurance Department.
Muktari joined Royal Exchange Assurance Nigeria (as it was then known) in 1995 as Branch Manager in Kano, with direct oversight and responsibility over the activities of Bauchi, Maiduguri and Yola offices of the company. In 2003, he became the Regional Director, Abuja.
He left Royal Exchange Plc to become the Managing Director/Chief Executive Officer of Yankari Insurance Co. Ltd in 2008, (later called Fin Insurance to Co. Ltd) and returned to Royal Exchange as the Group Executive Director, Marketing and Sales in 2010.