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NEM INSURANCE PLC started insurance business in Nigeria in 1948 through the agency of Edward Turner & Co.

It became a Nigerian branch of NEM General Insurance Association Limited of London in 1965 and incorporated in 1970 as a Nigerian company in compliance with the Companies Decree of 1968..

Peter Ojerumu
Peter Ojerumu
Head of Internal Audit

Peter Ojerumu is a seasoned risk, audit, and governance professional with extensive experience leading internal audit functions within the insurance and financial services sectors. He currently serves as the Head of Internal Audit, NEM Insurance Plc, where he provides independent and objective assurance on the effectiveness of governance, risk management, and internal control systems in support of the company’s strategic objectives.

Peter brings a strong blend of technical expertise, leadership, and industry insight into his role. He has a proven track record in strengthening internal control frameworks, enhancing operational efficiency, ensuring regulatory compliance, and advising senior management and the Board on risk-related matters. His approach to internal audit is risk-focused, value-driven, and aligns with best practices and regulatory expectations.

He started his career at KBL Insurance Limited as an Underwriter before being promoted to Team Lead in the Internal Control and Audit Department. In this role, he was responsible for designing and implementing control systems to mitigate operational and financial risks. He also collaborated with cross-functional teams to drive operational excellence. Later, he took on a key leadership position as Head of Internal Audit at Vas2Nets Technologies, where he oversaw enterprise-wide audit activities within a technology-driven environment and supported the establishment of robust governance structures.

Peter holds several professional certifications, including being an Associate Member of the Institute of Chartered Accountants of Nigeria (ICAN), an Associate Member of the Chartered Insurance Institute of Nigeria (CIIN), and an Associate Member of the Chartered Portfolio Management of Nigeria. These certifications demonstrate his commitment to professional excellence, ethical standards, and ongoing development.

He holds a Master of Science in Risk Management & Insurance, awarded with Distinction, as well as a Master’s in Banking and Finance (MBF), both from the University of Lagos. Furthermore, he obtained a bachelor’s degree in actuarial science, graduating with a Second-Class Upper Division at the same institution. This educational background provides him with a strong quantitative and analytical foundation for his professional career.

Peter’s depth of experience and professional discipline continue to play a vital role in strengthening the organization’s risk culture, accountability framework, and long-term sustainability.

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