• Tuesday, July 16, 2024
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BusinessDay

Ganiyu Musa becomes chairman of Council of Bureaux, ECOWAS Brown Card 

Ganiyu Musa

Nigeria’s Ganiu Musa has been inaugurated as the chairman of Council of Bureaux, ECOWAS Brown Card at the 37th Session of the Council held in Abuja.

Musa who is the current chairman of the Nigerian Insurers Association (NIA) and group managing director (GMD), Cornerstone Insurance Plc will be in charge of ECOWAS Brown insurance Scheme.

The main objective of the scheme is to guarantee to the victims of road accident a prompt and fair compensation of damages caused by non-resident motorist from ECOWAS member states visiting their territory. In Europe, the Green Card, a similar Scheme was established in 1953.

Part of activities at the event was a robust discussion on ‘Emerging Challenges & Strategies for a Better Future’, with virtual participation from member countries and industry operators that were not able to attend following Covid-19 restrictions.

Ganiyu Musa is a highly experienced management professional with over 35 years of diversified experience in insurance, reinsurance, audit, consulting, business advisory and financial management. His professional experience started with Pannell Kerr Forster and later Arthur Andersen & Co where he trained and qualified as a Chartered Accountant and gained top quality experience in audit and financial consulting.

He subsequently worked at African Reinsurance Corporation for 19 years, holding key positions, including Director of Finance & Accounts/Chief Financial Officer and Deputy Managing Director. He played a lead role in the creation and initial supervision of the risk management function at African Reinsurance Corporation and supervised the design of the Corporation’s investment guidelines and asset allocation. He was also instrumental in the preparatory work and the eventual setting up of thecorporation’s subsidiary in South Africa, where he subsequently served on the Board and Audit Committee as well as the Retakaful subsidiary in Cairo, Egypt.

He left Africa Re in 2011 to join African Capital Alliance (ACA), a leading pan-African private equity firm as Insurance Sector Specialist and a Director on the Board of Cornerstone Insurance Plc. He joined Cornerstone Insurance Plc in 2012 as the Group Managing Director/CEO and he is the current Chairman of the Nigerian Insurers Association having also served as Deputy Chairman and Treasurer. In addition to Cornerstone Insurance Plc, Musa currently serves on the Board of a Pension Fund Administration company and an Oil& Gas Exploration and Producing Company.

Ganiyu holds a Bachelor of Science (B.Sc. Hons.) degree in Business Administration and a Master in Banking and Finance (MBF) degree, both from the University of Lagos.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), having won multiple National merit awards in the qualifying professional examinations. He is also a Senior Member of the Chartered Insurance Institute of Nigeria. He is happily married with children.