Follow Us on Google
By Henry Uche
AIICO Insurance Plc, a composite insurer, has reassured its annuity customers that their annuity fund is intact and safe with pension fund custodians, saying that the negative claims circulating online on alleged mismanagement were fake news.
The MD/CEO of AIICO Insurance Plc, Mr. Babatunde Fajemirokun, made this known during the 2025 edition of its Annuity Forum, a yearly engagement platform designed to strengthen ties with its annuity customers, listen to their feedback and create opportunities for meaningful interaction and understanding.
“AIICO Insurance ensures that your funds are kept with pension fund custodians – that means there is no individual within the AIICO team that has access to your funds. This is the case with all insurance companies in the annuity business, the funds are professionally managed in line with strict regulatory guidelines that have been provided.”
“This annual gathering is not just a meeting – it is a celebration of your achievements, resilience, and the trust you have placed in us as your partner on life’s journey. You are not just clients – you are family. This forum is an opportunity to strengthen our bond, share updates on our industry, and re-affirm the promises we made to you,” Fajemirokun maintained.
In a remark, the Executive Director, Retail Business Division, Mr. Gbenga Ilori, affirmed: “Our business exists because of our customers, and we believe it is important to create avenues for physical interaction and engagement. These forums give us the opportunity to listen, respond to their questions, and hear their ideas on how we can serve them better. They have entrusted their pensions to us, and we consider it a sacred duty to always stay connected to them.
“More and more people are placing their trust in AIICO for their annuity needs, today, we serve over 25,000 annuitants across the country, and the number keeps growing. This is why we are taking the forum beyond Lagos, with the South-South region as our next stop in a few weeks.”
Ilori stressed that with a large and growing number of annuitants nationwide and monthly disbursements of over N1.7 billion, AIICO has built a reputation as a leading player in Nigeria’s annuity market. He assured that the company will continue to back its leadership position with unmatched customer service, strong financial performance, and innovative engagement platforms like the Annuity Forum.
As the next forum holds in Port Harcourt for annuitants in the South-South and across Nigeria’s geopolitical zones over time, its aim is to ensure that retirees everywhere can share in the warmth, interaction, and assurance that define the company’s commitment. “For AIICO, every retiree deserves not just timely income, but also a community that celebrates and supports them throughout their retirement journey,” he added.
A satisfied annuitant, His Royal Majesty Oba Ogungbayi Akanni Wasiu, the Onitetiku & Oluowode of Ota, Ogun State and a retired officer from the Ministry of Education, shared his experience: “I retired 15 years ago and started my annuity immediately after retirement. I have no regrets because AIICO has paid me every month without fail. I strongly recommend AIICO to anyone preparing for retirement because the company has been very consistent.”
Mrs. Judith Chibuogwu, who retired as a Director of Nursing from Lagos University Teaching Hospital and began her annuity with AIICO in March 2025, asserted: “It’s been wonderful. I took the advice to take on annuity with AIICO, and it has been an amazing experience with the steady, constant payments. The conversations around retirement life, health, and wellbeing have been enlightening. In fact, I have already started talking to my former colleagues who are still in service about AIICO’s annuity,” she affirmed.
