Meet Akin Ogunbiyi, The Chairman Of Mutual Benefits Assurance PLC

Akinlade Ogunbiyi is a Nigerian politician and businessman. He is widely recognized as the Chairman of Mutual Benefits Assurance PLC. He used to be a member of the People’s Democratic Party. He is a member of the Accord Party (AP) and ran for governor of Osun State on July 16, 2022.

Early Life and Education

Akin Ogunbiyi was born in Ile-Ogbo, Osun State, on September 12, 1962. His parents were farmers, and his father was the Trade Association’s chairman. He attended Ile-Ogbo Primary School for his primary education. He then transferred to Ile-Ogbo Modern School to complete his high school education. He later attended Luther King’s College in Ile-Ogbo. He sat for the Unified Tertiary Matriculation Examination (UTME) at Ile-Ife’s now-renamed Obafemi Awolowo University.

He enrolled in the Osun State College of Art and Science, Ile-Ife, to prepare for the exam. He received an Executive Master in Business Administration from the International Graduate School of Management, University of Navarra (IESE) Barcelona in Spain. Akin graduated from the University of Lagos with a degree in history and a master’s degree in industrial relations and personnel management. He also attended Lagos Business School and earned a PhD in Insurance and Risk Management.


Akin Ogunbiyi is best known for founding and leading Mutual Benefits Assurance Plc. On October 2, 1995, he established the company. Mutual Benefits Microfinance Bank is one of the company’s many products for Nigerians. The company has grown into one of the most competitive insurance firms in the country. The company now has branches and subsidiaries in two African countries.

Akin is a member of the Chartered Insurance Institute in London. He received the most distinctions in the professional examination in two sittings. He took his insurance courses at NICON, where he was trained to be a professional. Later, he joined Finance and Insurance Experts Limited, a multi-discipline consulting firm. The Nigerian businessman is a member of the Nigerian Institute of Directors, the West African Insurance Institute (BAII), and the Risk Managers Society of Nigeria.

Akinade has earned the highest honor bestowed by the prestigious University of Ife, “the Commander of Great Ife (CGI),” at the London Insurance Institute, where he is ranked as an Associate. He is also a member of the board of directors of Infrastructure Bank Plc.

Political Career

Akinlade entered politics in 2018, joining the People’s Democratic Party (PDP). He ran for the governorship of Osun State. On July 23, 2018, Ademola Adeleke received the PDP nomination after outpolling him by seven votes.

Akin has declared his intention to leave the PDP and join the Accord Party. On July 16, 2022, he announced his intention to run for governor of Osun State on the platform of the Accord Party. His running mate is 61-year-old Jimoh Mukaila Adekunle. In the 2023 Osun State Governorship election, he would face Ademola Adeleke of the PDP, Lasun Yusuf of the Labour Party, and Adegboyega Oyetola of the APC.

Political Ambition

Because of all of the foregoing and his impressive resume, Akin Ogunbiyi has been dubbed “The Game Changer” in Osun politics. He also made it clear to his supporters during a rally in the Ogo-Oluwa area of the state capital that he will not rest until he becomes governor of Osun state.

2022 Osun State Governorship Debate

During the governorship debate for the Osun State governorship election in 2022, he described himself as the Obafemi Awolowo of this era, promising free education, a stronger Amotekun security network, and 100,000 jobs for the state’s youths.

Along with Ogunbiyi, senator Ademola Adeleke of the Peoples Democratic Party (PDP) and current governor Adegboyega Oyetola of the All Progressives Congress (APC), both of whom are seeking reelection for another four-year term, took their seats on stage.

Yusuf Lasun, a former House of Representatives deputy speaker candidate, and Dr Oyegoke Omigbodun, a member of the Social Democratic Party (SDP), were also present.

Personal Life

Akin Ogunbiyi is married to Adedotun Ogunbiyi, a businessperson and former teacher. Together, they reportedly have two children. 

Awards and Nominations

  • Achievers Merit Award in Business Frontline in recognition of his philanthropic contribution. 
  • He was honoured with the “OSUN NOBLE SON” award in recognition of his prowess and work for the development of humanity by Concerned Osun State Youth.

Net Worth

According to some online sources, Akin Ogunbiyi is said to be worth $5 million.

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