Chief Cyril  Ajagu  emerges Champion Newspapers 2022 most outstanding investor

KELVIN EGERUE

It was William Edward Burghardt that had in a letter to his great grandson declared that “the return from your work must be the satisfactions which that work bring to you and the world’s need of that work. With this, life is heaven or as near heaven as you can get. Without this—with work which you despise, which bores you, and which the world does not need—this life is hell”.

Engineer (Chief) Cyril Onyekwelu Umunna Ajagu is perhaps one of the few Nigerians whose works the country needs for he is a man whose business considerations and investment decisions are mostly stimulated and moderated by the nation’s need for such business ventures as opposed to hinging decisions on absolute commercial considerations even when such adventures run counter to the overall interest of the country and her people.

It is therefore not surprising that the Board of Editors of Champion Newspapers Limited in active collaboration with the findings of independent assessors overwhelmingly voted Chief Cyril Ajagu, a serial investor in both blue chip companies and start-ups as Champion Newspapers’ 2022 most outstanding savvy investor, an award category which saw nine other credible investors across the various business sectors compete for it.

It was said in The ladder of Saint Augustine that “the height by great men reach and kept were not attained by sudden flight, but they, while their companions slept, were toiling upward in the night”. This can be said to be true of Cyril Onyekwelu Umunna Ajagu considering that he started his honest and conscientious efforts towards becoming a credible manager of men and resources very early in life hence at the age of 60, the business community already have him in its palm as an investor whose ways and means does not only great wealth but fosters an environment for the duplication of instrument of wealth creation. Yet, Cyril Ajagu, like Fred Allen noted in his work; Treadmill to oblivion, is a person who works hard all his life to become known, then he wears dark glasses to avoid being recognized.

The Champion Newspapers acknowledgement of Chief Ajagu as the 2022 most outstanding savvy investor is perhaps in tandem with pronouncement of William Shakespeare, a wordsmith who had urged men and by extension, institutions of goodwill not to be afraid of greatness. According to him, some people are born great; some achieve greatness while there are some who have greatness thrust upon them. Chief Ajagu is said to have attained greatness through the dent of hard work hence he is been celebrated.

Cyril Ajagu will be taking to the podium at the prestigious Eko Hotel and Suits, Victoria Island Lagos in May this year to receive his award alongside some notable individuals and institutions which include Governors of Lagos and Abia States, Executive Chairman of Nigerian Drug Law Enforcement Agency (NDLEA) , Gen Bubar Mawa (rtd), United Bank for Africa, Fidelity Bank, BUA Industries, Parallex Bank, Zenith Bank,  Heirs Insurance Group among others.

“We note, with delight Sir, your uncommon zeal and commitment in growing Nigeria’s economy by promoting start-up companies, creating special purpose vehicles needed in sustaining businesses and boosting the development of the nation’s economy through mobilization of investible funds which are channeled towards creating employment and by extension wealth for Nigerians. We note with delight the fact that your investment decisions cut across wealth creation and philanthropy thus making you stand out as a special brand of investor”, the Group Managing Director and Editor-In-Chief of Champion Newspapers Limited Dr (Mrs) Nwadiuto Iheakanwa had noted in a letter conveying the award to Chief Ajagu.

Continuing she declared that “We note that you are a businessperson who has been the head of over 10 different companies and occupies the position of Executive Chairman in most of them. Of great significance is your investment decisions in institutions like Universal Insurance Plc and African Alliance Insurance Plc where you have through the dent of hard work and demonstration of unequaled boardroom expertise helped in not only rejuvenating the companies but also in transforming them into profit making organizations whose contributions to the nation’s economy are now very profoundly outstanding. You have your investment footprints on such other companies as Ghana Life Insurance Co. Ltd., Frenchies Foods Ltd., Axiom Air Ltd., Conau Holdings Ltd., Universal Hotel Ltd, Molit Hotels Ltd, Tecu Ltd. (both are subsidiaries of Conau Ltd) as well as Jobbot, Inc. These giant investment drives and decisions are a testament to the vision, tenacity, commitment and dedication to duty of a special brand of investor which you aptly represent”.

In accepting the award, Chief Ajagu said that he was humbled by the recognition coming at a time when he is deeply engrossed in thinking out better ways of ensuring that Nigeria’s wealth are deployed in making Nigeria a better for the average Nigerian.

“We must think of investing more in our country’s economy which is a better way of striking an eco-balance considering that the more that we get more Nigerians gainfully employed, the better that the society will become; taxes will be paid and government will in turn access more money to build and improve on our infrastructure” he submitted.

“We are aware of the contributions of Champion Newspapers Limited in advancing the course of economic activities and boosting investors’ efforts in the various sectors of the nation’s economy. We will continue to be encouraged by such partnership”, Chief Ajagu submitted.

Cyril Ajagu should, with every humility stand tall to be counted and described as one of very Nigerian few investors to have rescued the nation’s insurance industry from total collapse considering the fact that his objective but strategic  investments in the insurance sector at the time that he did acted as the enabler in encouraging many other discerning investors from pitching their tents with the risk underwriting and management industry to the extent that  insurance profession is no longer been perceived or referred to as the poorer cousin of the banks. Cyril Ajagu is one of those deep pocket investors in the insurance industry to whom the insurance practitioners will forever remain grateful to.

An Engineer by training, Chief Cyril Ajagu is a versatile business mogul with responsibilities as the Group Managing Director of Molit Hotels Ltd, Conau Limited (Nig) and (Uk) Tecu Limited. As a Petroleum Engineer, it is taken for granted that he is deeply involved in the nation’s oil industry. But what seems to stand him out today is his insistence on helping to build a stronger platform for the insurance industry in Nigeria against the backdrop of his earlier conviction of the roles which insurance plays as an indefatigable risk management and mitigation scheme which encourages the survival and sustenance of most human endevours; businesses and life inclusive.

An industrialist per excellence, a professional of impeccable character, a quintessential manager of men and resources and a philanthropist of repute, Chief Cyril Ajagu’s involvement in Universal Insurance marked the beginning of a major turnaround in the fortunes of the first generation insurance company thus leading to the immediate and refreshing transformation of the underwriting company from a regional insurance company to one of a national status according to the ranking of the National Insurance Commission (NAICOM) which is the insurance industry’s regulatory authority. Today, Universal Insurance Plc operates as a hybrid financial institution where all stakeholders especially members of the public are delighted to obtaining insurance protection from considering the company’s efficiency and effectiveness in the areas of claims payment and risk mitigation.

Universal Insurance Plc. is a leading name in the Nigerian insurance and financial services sector with over four decades of experience and operations in many states of the Nigerian Federation including the Federal Capital Territory.

Today, Universal Insurance serves commercial, institutional and individual customers through an extensive general insurance network which also allows for the provision of financial and risk management services nation-wide. Universal Insurance Plc.’s leadership position is as a result of its underwriting skills, innovative insurance solutions, financial strength, superior service and prompt claims settlement.