The Group Managing Director, NICON Group of Companies, Mr. Jimoh Ibrahim, said on Tuesday that he had moved out of the management of NICON Insurance Plc.
He said the decision was based on the promise he made last year that he would quit the place after reorganising the outfit in one year.

Addressing journalists in Lagos, he said he was relocating to Lagos to personally oversee operations at the oil and gas unit of the group, Global Fleet.
He said Global Fleet had not moved too far from where he left it last year, adding, however, that the limited control the management had on the business was partially responsible.
According to him, Global Fleet in the last one year has not moved too far. The reason for that is understandable because those who were managing the place have a limit to how much they can spend. For instance, they cannot sign a cheque of N1bn to buy products.”

He said the Global Fleet brand would be unveiled very soon.
Speaking on the success he made of NICON Insurance, he said he took over the company with liabilities totaling over N12bn, with pension arrears of N8bn and claims debt standing at N4bn, pointing out that he had reduced the liabilities to less than N1bn before handing it over.
He, however, said the management of the insurance company could still consult him for advice whenever there was need for it.

Source: Punch