29th September, 2014
Kazeem Ugbodaga
The Osun State Governor, Rauf Aregbesola and his counterpart in Lagos State, Governor Babatunde Fashola have mourned the demise of the Executive Vice Chairman/Chief Executive Officer, CEO, of Industrial and General Insurance (IGI) Company, Mr. Remi Olowude. The founder of IGI died of prostate cancer at the age of 63 at the weekend.
Aregbesola commiserated with the family of Olowude, describing his death as big blow.
In a statement by the Director, Bureau of Communication and Strategy, Office of the Governor, Mr. Semiu Okanlawon, the governor described the death of Olowude as a big blow to the insurance world, the State of Osun and Nigeria as a whole.
According to him, the late insurance guru was an invaluable asset in the insurance sector, adding that Olowude’s death has undoubtedly robbed the nation and insurance sector of another great personality.
“The death of Chief Remi Olowude is a sad one to us in Osun. Here was a man of immense qualities, which he had employed to promote everything ideal in his lifetime.
“Olowude, unarguably, distinguished himself in the insurance and business sector to the extent that his name became a household name across the country.
“Throughout his sojourn on the earthly surface, he distinguished himself as a man of immense wealth, a perfect gentle man and an Omoluabi par excellence, which is what Osun epitomises. There is, therefore, no gainsaying the fact that Olowude’s exit would create a huge gap in the business and insurance sector in Nigeria.
“I, on behalf of the government and people of Osun offer our heartfelt condolences to the immediate and extended families of deceased as well as the insurance family.
“We pray that the Almighty God repose his gentle soul in paradise,” he stated.
Also, Lagos Governor, Fashola commiserated with the late Olowude’s wife, family and insurance professionals in the country over the passage of renowned insurance practitioner and entrepreneur.
In a statement signed by Fashola’s Senior Special Adviser on Media, Mr. Hakeem Bello, Fashola described the passage of Chief Olowude as a great loss to the insurance industry in particular and the world of entrepreneurship in general.
According to the governor, Olowude contributed in no small measure to the development of the country’s insurance sector and indeed, to the creation of economic opportunities for the teeming skilled workforce in the industry.
While condoling with the widow, the family and the entire staff, board and management of IGI on behalf of the Government and people of Lagos State, Fashola prayed to God to grant Olowude’s soul sweet repose and to abide with all members of the family left behind.
The late Olowude was born on 26 April, 1951. He studied Economics at the University of Lagos (1970-73) and the University of Santa Clara, California, United States (1976). He was awaiting his PhD, having completed the coursework from the University of Santa Clara before his death.
He was an Associate of the Chartered Insurance Institute of London. An International investor in several companies around Africa, the late Olowude was Chairman of National Insurance Corporation Limited, a publicly-quoted company in Uganda.
He was a Director and co-Chairman on the Board of SONARWA Holdings, which owns life, and general insurance companies in Rwanda.
He deployed his international business expertise, professionalism and vision to building a conglomerate with interests in various business sectors spanning financial services, telecommunications, oil and gas, mortgage banking and aviation.