Nahim Ibraheem resigns as Chairman of Veritas Kapital

Nahim Abe Ibraheem has resigned as the Chairman of Veritas Kapital Assurance. According to a corporate disclosure by the company, Nahim’s resignation was presented and accepted during its board meeting on May 2.

He spent three years chairing the board of Veritas Kapital Assurance, after assuming the position in February 2022. Nahim succeeded Thomas Etuh, the company’s major shareholder and board chairman, between 2017 and 2022.

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Since assuming the headship over the company’s board, the company has seen a rollercoaster of results. From a N712 million net income in 2022 to a N2.75 billion net profit in 2023, to a N785.4 million net loss in 2024. According to the group’s annual report for 2024, he represents the interest of Veritas Capital Limited on the board. However, in 2023, the interests of Veritas Capital Limited on the board were represented by Thomas Etuh.

Nahim Abe Ibraheem is currently on the boards of 9Mobile and VFD Group. He is also the chairman of Lighthouse Capital. In the past, he served as the chairman of EURONAT Nigeria, which was a major oil exporting company. He was also a mandated representative of Africa Merchant Bank and Societe Generale Bank in the past. He has also served as the Chairman of Goldlink Insurance, which is majorly owned by Veritas Kapital Assurance.