Mutual Benefits Assurance MD, Femi Asenuga, ranked among Top 10 CEOs behind Nigeria’s best-performing stocks in 2025
Managing Director, Mutual Benefits Assurance Plc, Femi Asenuga
The Managing Director of Mutual Benefits Assurance Plc, Femi Asenuga, has been recognised as one of the Top 10 CEOs driving Nigeria’s best-performing stocks in 2025, according to data compiled by Nairametrics.
The report from Nairametrics, based on data from the Nigerian Exchange Limited (NGX), listed Asenuga among executives whose leadership contributed to an exceptional year in the equities market. The data shows that 45 listed companies posted gains of over 100%, with some stocks delivering returns exceeding 1,000% in a record-setting year. Nigeria’s equities market in 2025 demonstrated remarkable resilience, strategic execution, and selective sectoral growth.
Despite economic challenges, stocks across multiple sectors surged, supported by strong earnings, improved liquidity, and investor confidence driven by reforms. The All-Share Index (ASI) closed at 155,613.03 points, representing a 51.19% year-to-date gain, while market capitalisation rose to N99.38 trillion by year-end, up roughly 58.4% from N62.76 trillion recorded in December 2024.
Nairametrics stated, “Beyond the headline numbers, these remarkable stock gains were driven by the vision, strategy, and execution of the executives at the helm. From pharmaceuticals to manufacturing, insurance, and technology, the top-performing companies were led by CEOs whose leadership inspired operational excellence and investor confidence.”
Femi Asenuga holds a Master of Science in Business Administration and a Bachelor’s degree in Insurance from the University of Lagos. An Associate of the Chartered Insurance Institute, Nigeria, he was the best graduating student in the B.Sc. Honours Insurance Examination, receiving both the Femi Johnson & Co. prize and the Unity Life & Fire Insurance Company award.
Asenuga began his insurance career at Metropolitan Trust Insurance Company in 1993, joined Custodian and Allied Insurance in 1995 as Assistant Manager in the Technical Department, and moved to Mutual Benefits Assurance in 1997 as Deputy Manager, where he rose through the ranks. He was seconded to the Life Subsidiary where he rose to become the Managing Director, a position held until 2019 when he was appointed as the Managing Director/CEO, Mutual Benefits Assurance Plc.”
