The Lagos Traffic Radio (96.1 FM) and LASACO Assurance PLC have reaffirmed their commitment to a partnership aimed at enhancing the quality of life for residents and motorists in the state.
The pledge was made during a courtesy visit to the station’s headquarters by the newly appointed Managing Director of LASACO Assurance PLC, Ademuye Shobo, and his management team.
During the engagement, Shobo lauded Lagos Traffic Radio for its dual role as a vehicle for accurate insurance education and a catalyst for commerce.
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He noted that by providing consistent traffic advisories, the station effectively reduces travel time, prevents the loss of man-hours, and lowers stress levels for the Lagos workforce.
“After the promulgation of the NERA 2025 law, it made it convenient for insurance companies to increase their capital base. LASACO is moving aggressively to meet the new ₦25 billion requirement for composite insurance firms,” Shobo stated.
He revealed that the company had already concluded a private placement in January 2025, raising ₦11.1 billion as part of its journey toward full recapitalisation.
Responding to the delegation, the General Manager of Lagos Traffic Radio, Tayo Akanle, welcomed the collaboration, noting that it comes at a pivotal moment as the station undergoes a major operational expansion.
The station is currently upgrading its reach to ensure wider coverage across the state and beyond utilizing the airwaves to simplify complex insurance policies for the average resident and leveraging inter-agency and private-sector cooperation to drive the “Greater Lagos” vision.
“One of the factors for growth is partnering with relevant agencies. We have established such a partnership with LASACO, and I believe strongly that we will continue to grow in leaps and bounds,” Akanle affirmed.
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The visit underscores a growing trend of synergy between media and financial institutions following the NERA 2025 legislation.
By aligning with a station that speaks directly to thousands of drivers daily, LASACO aims to position its new capital strength toward products that protect the assets and lives of those navigating the busy Lagos corridors.
