LASPEC GETS A NEW DIRECTOR GENERAL

Official Potriate 1

Mrs. Folashade Onanuga has been appointed to be the new Director General of Lagos State Pension Commission. She is  Fellow, Chartered Insurance Institute of London, Fellow, Institute of Chartered Secretaries and Administrators, Fellow, Certified Pension Institute, is a renowned Chartered Insurance Practitioner, born on 7th of August, 1962. She graduated from the famous University of Ife (now Obafemi Awolowo University) in 1983 with a 2nd Class Upper (Honours) Degree in English Language.

With over 27 years management experience, Mrs. Onanuga bestrode the insurance sector like a colossus, starting with Glanvill Enthoven Life & Pension Consultants where she literarily cut her teeth in 1984 and rose within the period of 5years to the position of a Manager charged with the responsibility of meeting the Insurance needs of the high net worth multinational clients of the Glanvill Enthoven group.

As the Senior Manager, Glanvill Life & Pension Consultants between 1996 and 1998, Mrs. Onanuga, by dint of hard work, was instrumental, to the transformation of the subsidiary company that hitherto operated at a loss to declare profit in her first year of management. She received various awards and several promotions for excellence. She rose from the position of Controller to Assistant General Manager in a short period. She was formally appointed the General Manager/Chief Executive Officer of the subsidiary Company in 2005 and during her tenure of office, the Company became a highly profitable venture with clientele increasing astronomically and this earned her recognition with the Parent Company of Glanvills in the United Kingdom i.e. Jardine Llyods Thompson Insurance Brokers.

Mrs Onanuga’s wizardry was also brought to bear on the successes of the Future Unity Glanvill Pensions (FUG Pensions), the product of the partnership between Futureview Financial Services and Unity Bank Plc., which obtained a License to operate as a Pension Fund Administrator from the National Pension Commission as a late entrant in 2007. Mrs. Onanuga, who was seconded to the Company as the Chief Operating Officer/Executive Director, was saddled with the management of the Company which she provided with the necessary direction to become virile enough to compete effectively with the 1st generation Pension Fund Administrators.

In the course of her burgeoning career, she managed insurance portfolios ranging from fire, motor, construction & engineering insurances of reputable companies such as Julius Berger, Imprest Bakalori, Reynolds Construction, G. Cappa, Dantata & Sawoe, JDP Construction, West Africa Milk Co, now Wamco Friesland, (makers of Peak Milk), Bagco (makers of Bagco Supersack), Airfrance, KLM, ML Lee group etc.

Upon the eventual takeoff of the Lagos State Pension Commission (LASPEC), she was called upon by the government of Lagos State to use her wealth of experience to position LASPEC for effective pension administration in Lagos State Public Service when she was appointed the pioneer Executive Director (Technical) of the Lagos State Pension Commission (LASPEC) on the 1st February, 2010, a capacity in which she served for five years..

In recognition of her talent, the Governor of Lagos State, Mr. Akinwunmi Ambode appointed her as the Director General Lagos State Pension Commission on the 14th July, 2015 to help the Commission actualise its vision of being the leader in the provision of excellent pension fund administration services to employees of the Lagos State Government.

An adept problem-solver, excellent communicator and a visionary who sees the big picture in Insurance and Pension practice, Mrs. Onanuga held prestigious positions in the Insurance & Pension Industry. She was President of the Professional Insurance Ladies Association between 2006 to 2008; also an Ex-Officio Member of the Association, rendering qualitative advice for the advancement of the cause of women in the Nigerian Insurance Industry;  a Co-opted Member of the Council of Nigerian Corporation of Registered Insurance Brokers (NCRIB) that deliberated with government on the contributory pension scheme introduced in 2004 ; and a past member of the Council of the Chartered Insurance Institute of Nigeria by virtue of her presidency of the Professional Insurance Ladies.

She has presented papers severally on pension issues; she is a regular facilitator on training by many bodies, e.g. The Society of Women Accountants of Nigeria, the Certified Pension Institute of Nigeria; a discussant at many Professional Fora of the Chartered Insurance Institute of Nigeria.

Mrs. Onanuga has travelled far and wide and she is a versatile administrator who has had the benefits of many foreign seminars and training programmes.
She is a Pastor with the Redeemed Christian Church of God. She is happily married and blessed with lovely children