Abimbola Mercy Onakomaiya, the 15th President of the Professional Insurance Ladies Association (PILA), has described leadership as a continuum that requires building according to established patterns. Speaking at her valedictory lecture as outgoing president, held at the Red Carpet Hall in Oniru, Victoria Island, Onakomaiya, who is also the Managing Director and Chief Executive Officer of Peakthrust Insurance Brokers Ltd, reflected on her two-year tenure and the progress made in the insurance industry.
The event attracted high-profile personalities from various sectors. The guest speaker, Professor Lere Baale, Chief Executive Officer of Business School Netherlands, praised Onakomaiya's legacy of power and purpose. He stated that she exemplifies competence combined with character, urging the next generation to seek transformation through discipline in small tasks. Baale noted that complainers do not create the future; reformers do, and that legacy comes at the cost of comfort and convenience.
Onakomaiya remarked that her tenure has been a learning experience for herself, the executive committee, and all women involved. She highlighted her greatest achievement as raising awareness among the insurance, banking, oil and energy, and other ancillary industries about the pivotal role of insurance. She emphasized that signing compulsory insurance into law, particularly the Nigerian Insurance Industry Reform Act (NIRA) 2025, would help individuals manage risks effectively. With over 40 years in the industry, she expressed confidence that the insurance sector is ready for greater advancements.
On the industry's progress, Onakomaiya stated that PILA immediately took action after President Bola Ahmed Tinubu signed NIRA 2025 into law. The association has been working closely with the Chartered Insurance Institute, the National Insurance Commission, the Nigerian Council of Registered Insurance Brokers, and the Nigerian Insurance Association to ensure the law's implementation.
Speaking about her role, Onakomaiya said leadership is a continuum and that she is just the fifteenth president, building according to pattern. She expressed confidence in her successor, Dr. Joyce Odiachi, who will be sworn in as the next PILA President on June 26, 2026, predicting she will do well and even better. Onakomaiya noted that she will pass on the chain of office to her.
When asked about her future plans, Onakomaiya, aged 66, said she intends to focus on financial stability and leave a legacy not only for her children and grandchildren but also for the insurance industry. The event included recognition awards presented by Onakomaiya to individuals who supported her during her tenure. Awardees included Chief Mrs. Olufunsho Amosun, wife of the former Governor of Ogun State; Mrs. Yemisi Edun, Managing Director of FCMB; Mr. Olusegun Ayo Omosehin, Commissioner for Insurance and CEO of NAICOM; Temitope Shonubi, Executive Director of Sahara Energy; and Mrs. Titi Oshodi, Special Adviser to the Lagos State Government on Climate Change, among others. Past PILA President Mrs. Yetunde Adenuga was also present at the event.
