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COVID-19: Ooni, ABUAD Partner On Research For Drugs, Vaccines

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Arole Oodua & Ooni of Ife, Ooni Adeyeye Enitan Ogunwusi (Ojaja II) is partnering with ABUAD-Afe Babalola University, Ado Ekiti on clinical research aimed at developing drugs and vaccines for viral infections with special focus on Coronavirus pandemic.

Ooni Ogunwusi made this known at his Ile-Oodua palace on Monday while receiving reports from his Clinical Research Team.

The Ooni of Ife, Ooni Adeyeye Enitan Ogunwusi (Ojaja II) after the donation of the motorized modular fumigator to Ekiti State on Thursday, April 30th, 2020 paid a courtesy call on Founder of the Afe Babalola University, Ado Ekiti, Ekiti State, Aare Afe Babalola to discuss further on moving health of the nation forward.

Ooni Ogunwusi after the presentation of the locally designed motorized modular fumigator to the university poured encomiums on the founder for his great interest in education and health and described the legal luminary as a rare asset to the continent of Africa.

“Baba Afe Babalola at the age of over 90 is still very committed to the greatness of Africa, Nigeria is indeed blessed to have him and I am particularly blessed to have him as a descendant of Oduduwa. He has already invested millions of dollars in the ABUAD College of Medicine which is very outstanding in Africa and he is currently making great efforts to upgrade his Laboratory to Level 4 Biosafety that can handle very sensitive and other deadly infections like COVID-19.

“There is a need to develop joint clinical research on drugs and vaccines from plants/herbs to fight the Covid-19 infection with its peculiarity in the black race. With this, lots of vaccines to prevent sensitive and deadly infections will be rolled out for use globally. This is unprecedented! May the Almighty Olodumare keep this Baba Afe Babalola for us,” Ooni said.

Ooni who doubles as Spiritual Head of the Oduduwa Race Worldwide and Co-Chairman, National Council of Traditional Rulers of Nigeria (NCTRN) used the occasion to call on the Nigerian government and wealthy people in the country to support the university researchers and partner on massive industrial revolution that will enable internal solutions to national challenges.

“It is very shocking that many professors have found solutions to sickle cell disease and other ailments in Nigeria but received no support for research from the government.

“We must look inward and solve our problems by ourselves. There is no need for our government officials and wealthy ones to go abroad for medical checkups. They should rather focus their resources on making Nigeria medical system work better,” Ooni said.

“Now that the House of Oduduwa under my watch and Afe Babalola University are about to start aggressive clinical research against all deadly diseases including Covid-19, it is about time we stopped looking up to the foreigners to solve our problems for us.

“It is so marvellous, what else do we want? With the ABUAD Multi-System Hospital and research facilities in place, we do not have to go outside Nigeria again for solutions to our medical problems.

Ooni Ogunwusi added that YEMKEM Herbal Therapy, a Lagos based globally recognised African Medicine experts has been a reliable partner in the mixtures of herbal solutions. The herbal solutions will be unveiled soonest and forwarded to National Agency for Food and Drug Administration and Control (NAFDAC)/ Pharmaceutical Society of Nigeria (PSN)/National Institute for PharmaceuticalResearch and Developmenthoping they will review and respond to us very promptly.

The herbal formulations will eventually be taken a step further for vaccine development with the partnership with research groups in ABUAD and availability of clinical & laboratory research facilities.

“I rejoiced because the facilities will enable our herbal solutions to go through the clinical rigours and transforming it to be internationally acceptable.

“The research on the Herbal Mix right now have started and Dr Akintunde Ayeni of YEMKEM Herbal Therapy and us have been working assiduously on these herbal solutions

“Recently, I proffered some mix solutions which I inherited from this throne as the custodian of the cultural heritage of the Oduduwa race. A team of four from the research unit of the House of Oduduwa Initiative which includes Professor Esimai presented the mixture to the founder of ABUAD, Aare Afe Babalola who immediately constituted a research group to develop drugs and vaccines from the herbal mixture.

“ABUAD Teaching Hospital is 2nd to none. This is a major breakthrough, another interesting thing in Alternative Medicine(Herbal world).

I just thank God for Baba Afe Babalola who is now challenging younger professors

“With this, we now have solutions to vaccines. Vaccines of COVID-19 and several alternative medicines in clinical ways, Ooni added.

Prof Olapeju Esimai in her report thanked the Ooni for the opportunity given her and the research team in House of Oduduwa Initiative to work with Afe Babalola University’s medical research team on drug and vaccine development from the herbal mix made from calcium salts and processed leaf plants.

Professor Esimai also stated that the team was introduced by Chief Afe Babalola to the Provost of College of Sciences at the university, Prof Abiodun Ojo. The ABUAD research groups on the drugs and vaccine development include Prof Abiodun Ojo, Prof Okiki (microbiologist), Prof Onasanya (molecular biologists ), Prof Sanya ( Provost of College of Medicine & Clinician who has worked on local herbs), a great number of researchers, laboratory technologists and graduate students. The research group held the inaugural meeting on May 6th, 2020 and since then series of meetings have been held and work is in full progress.

Prof Esimai who made a brief presentation at the inaugural meeting informed the research group that the herbal mixture have been used on people with symptoms suggestive of covid19 infection and there have been remissions of the symptoms within few days. However, for wider and continued use, the mixture needs to be compounded into drugs and vaccine need to be developed.

“The drug and vaccine development are in phases, the first phase is drug development. This entails analysis of the mixture for microbial, mental, photochemical, chemical characterisation, toxicity, pharmacological and medicinal property classification.

“The second phase according to her which is the vaccine development will involve animal experiments to derive antibodies to the introduction of recombinant protein antigens of different viruses. These experiments will take place in the laboratory which is about level 4 Biosafety. While the third phase is the clinical trials,” she said.

Professor Olapeju Esimai, a Public health Physician, a public health consultant to WHO, UNICEF and many other international health agencies, also current Head of the Community Health Department, Obafemi Awolowo University Teaching Hospital, Ile-Ife said the members of the research group were so enthusiastic and as such work has commenced immediately.

Founder of ABUAD, Aare Afe Babalola who had earlier received the Ooni’s Research Team in his office praised the African foremost monarch for his partnership with the university, describing him as a great monarch with visionary leadership, promising his best to make the research a huge success.

“I have already dedicated my life to humanity. What else Am I looking for in this world? God has been so kind to me, that’s why I must be so kind to humanity too. Even if I have to increase the laboratory from Level 4, I will do so without any hesitation, so that this partnership can be a huge success.

“All my life has been challenging, I never saw the 4 walls of the university but I have several university degrees.

“It is my happiness that Arole Oodua Ooni of Ife has visited us to see what we have here at Afe Babalola University in Ado Ekiti and he (Ooni) is impressed. He is a great African king with visionary and pragmatic leadership,” Afe Babalola said.

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Leadway Assurance Partners AGRA, NADF, Verdure Climate To Advance Agricultural Insurance Solutions

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Leadway Assurance Company has forged partnership with Alliance for a Green Revolution in Africa (AGRA), the National Agricultural Development Fund (NADF), and Verdure Climate, to lead a national dialogue on identifying challenges and proffering actionable solutions on agricultural and climate risks in Nigeria.
The forum themed “Accelerating Agricultural Lending to Market Actors and Smallholder Farmers Using Index-Based Agric Insurance & Blended Finance Solutions,” held in Abuja recently.
In attendance at the forum were policymakers, financial institutions, agribusiness leaders, development experts, and critical value-chain actors, to examine scalable models capable of strengthening Nigeria’s agricultural resilience.
Recent data shows that over 82 percent of Nigerian farmers remain uninsured (Phys.org, 2024), while projections warn that climate-induced disruptions could cut Nigeria’s agricultural productivity by 10–25 percent by 2080, with some rain-dependent regions facing losses of up to 50 percent (IOSR Journal, 2024; ScienceDirect, 2025).
Against this backdrop, the dialogue provided a timely platform for advancing integrated solutions that combine insurance, credit, and climate-risk financing.
Speaking at the event, Ayoola Fatona, Global Head, Agriculture Risk Solutions, Leadway Assurance, reaffirmed the organisation’s commitment to financial inclusion and agricultural transformation. “We are in a mission to make insurance a catalyst for productivity by ensuring farmers can access credit, adopt climate-keen practices, and recover quickly from weather-related shocks. Collaborating with AGRA, NADF, and Verdure Climate allows us to co-create solutions that strengthen the entire value chain and secure the future of our food systems.”
In his opening address, Fatona underscored the urgency of building systems that empower farmers and de-risk financiers.
He noted that “the dialogue forms part of our AGRA-supported initiative to build farmers’ resilience through innovative insurance models and financial instruments across Niger, Kaduna, and Nasarawa States. As climate risks intensify, our responsibility extends beyond underwriting; we must become enablers of productivity, inclusion, and long-term stability. Index-based insurance, when integrated with blended finance structures, creates the transparency, speed, and scalability needed to unlock credit for market actors and smallholder farmers alike.”
He added that the collaboration among government, insurers, financiers, and development partners is essential to translating innovation into real impact for farmers, the maize grower in Nasarawa, the rice producer in Niger, and the aggregators supporting thousands across Kaduna.
Leadway Assurance has been investing in strengthening Nigeria’s agricultural insurance framework through initiatives such as index-based crop insurance, public-private partnerships with state governments, and capacity-building programmes for rural farming communities. Between 2024 and 2025, Leadway has supported interventions that expanded coverage for thousands of smallholder farmers across multiple states, contributing to improved financial stability and agribusiness continuity.

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IICC Trains Enugu Workers On Compulsory Insurances

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As part of efforts to promote insurance awareness and penetration throughout the country, the insurance industry has organised insurance training session for workers in Enugu State.

President Bola Tinubu, signed the Nigerian Insurance Industry Reformed Act (NIIRA) 2025 into law in July 2025. The Act is expected to reform the insurance industry, ensure Nigerians enjoy the benefits of insurance which is a catalyst to growing the Nigerian economy.

To this end, the Insurance Industry Consultative Council (IICC) under the leadership of its Chairman. Mrs. Yetunde Ilori, led all arms of the industry, including NAICOM, NIA, NCRIB, ILAN, ARIAN and CIIN to Enugu where the delegates from various ministries of the State Government were educated about the benefits of embracing insurance.

Mrs. Ilori said that the industry thought it was necessary for Enugu to feel the industry, noting that the State Government under the leadership of the Governor, Peter Mbah has been so involved promoting compulsory insurances in the State. She also appreciated the Government for supporting the training by approving the attendance of its workers.

The President of ILAN, Mr. Ikechukwu Udobi addressed the delegates as being privileged to have been selected out of many to attend the training.

Speaking on behalf of the Government, the Secretary to the State Government, Professor Chidebere Onya appreciated the industry for deeming it fit to train the citizens of the Coal City State on benefits of insurance. He stated that insurance is indeed a catalyst to growing the State’s economy and the Government is definitely going to take advantage of this.

The delegates applauded the IICC for the thoughtful training with the caliber of experienced experts who delivered several informative and innovative papers on compulsory insurances.

Mr. Tope Adaramola, who represented the NCRIB acknowledged the faculties and the delegates for their contributions towards the success of the training, submitting that the IICC is so expectant of feedback from the training and hoping see the economy of Enugu grow through the adoption of compulsory insurances.

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Sovereign Trust Insurance To Raise N5bn Through Rights Issue

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The Board of Directors of Sovereign Trust Insurance Plc, chaired by Mr. Abimbola Oguntunde, has approved an initial capital raise of N5 billion through a Rights Issue, says the management of the insurance company.

This represents a strategic first step in the company’s phased recapitalisation agenda, undertaken in alignment with the requirements of the Nigerian Insurance Industry Reform Act (NIIRA) recently signed into law by President Bola Tinubu.

The NIIRA framework mandates stronger capital buffers and enhanced solvency positions across the insurance sector, reinforcing the need for proactive capital planning by responsible operators.

The Rights Issue is projected to be completed within the first quarter of 2026. In line with global best practice, the Company has commenced structured engagements with all appointed professional parties, including issuing houses, legal advisers and auditors, and is currently finalising the necessary regulatory approvals prior to the formal opening of the offer to shareholders.

At the company’s 30th Annual General Meeting held on 25 September 2025; shareholders approved a set of key resolutions designed to strengthen Sovereign Trust Insurance Plc’s strategic and financial position. Chief among these was the endorsement of a capital raise of up to N20 billion to reinforce the balance sheet, improve liquidity buffers, and expand underwriting capacity in line with the heightened capital expectations introduced under the NIIRA regime.

Shareholders also approved the payment of a 5 kobo dividend per share, affirming confidence in the Company’s financial discipline and commitment to sustained value creation.

The market responded positively to these developments, with the Company’s stock emerging among the top gainers on the Nigerian Exchange (NGX) over several trading sessions in October 2025 – a clear indication of growing investor confidence and the strength of the Company’s operational fundamentals.

Commenting on this development, the Managing Director/Chief Executive Officer, Mr. Olaotan Soyinka, reiterated Management’s resolve to position the company among the top five insurers in Nigeria – a target aligned with industry benchmarks for operational efficiency, premium growth, and digital service delivery.

He encouraged shareholders to participate fully in the Rights Issue when it opens, noting that the Company remains firmly committed to innovation, digital transformation, market agility, and underwriting excellence.

According to him, these pillars are critical for sustaining long-term performance, improving customer experience and consolidating the Company’s position in a rapidly evolving insurance landscape.

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