ABUJA, Nigeria – Prof. Joe Irukwu, the former President General of Ohanaeze Ndigbo Worldwide and a trailblazer in the Nigerian insurance industry, has died at the age of 89.
The news was announced in a statement on Saturday, July 8, 2023, by Prince Harrison Eze Okorie, President General, Amaokwe Item Welfare Union.
“The Amaokwe Item Welfare Union on behalf of the entire Amaba Ukwu kindred and the immediate family hereby announce the glorious but painful demise of our great patron, father, grandfather, son and brother, Prof (Chief) Joseph Ogbonnaya Irukwu, SAN, CFR,” said Okorie.
Describing the late Irukwu as a “giant”, the statement expressed deep condolences to his family, and urged the entire Amaokwe community to remember them in prayers during this challenging time.
An accomplished lawyer, lecturer, author, and insurance magnate, Irukwu was a pioneer in many respects.
He was the founding managing director of the Nigerian Reinsurance Corporation, a role in which he was instrumental in shaping the country’s insurance industry, prioritizing the training and development of local talent.
Irukwu was also the founder of the African Development Insurance Company, which was subsequently sold to Diamond Bank.
Prof. Irukwu’s academic and professional journey began in Britain, where he obtained a degree in Law and Insurance in 1962.
Upon his return to Nigeria, he joined the West African Provincial Insurance Company, starting as a legal adviser before swiftly ascending the ranks to the managerial cadre in 1965.
In 1977, he became the inaugural chief executive of the Nigerian Reinsurance Corporation.
Under his leadership, the government-owned business thrived, fostering the local insurance market and reducing foreign exchange outflows by ensuring that all reinsurance transactions were primarily conducted within the country.
Irukwu’s expertise in insurance was also evident in his literary contributions. His first book, “Insurance Law and Practice in Nigeria,” was published in 1967, followed by “Accident and Motor Insurance in West Africa” in 1974, and “Insurance Management in Africa” in 1976.
Beyond his impressive professional accomplishments, Irukwu was also a highly respected figure in the Igbo community, having served as the President General of Ohanaeze Ndigbo Worldwide, a notable cultural and socio-political group representing the interests of the Igbo people.
His death leaves a considerable void in both the business and cultural spheres of Nigerian society.
