Board and management of Custodian & Allied plc has announced a N50 billion asset, defining the prime position of the company in financial services sector as it marks twenty years of successful business in Nigeria.
Michael Ade Ojo, chairman board of directors, who disclosed the company’s success story during a public lecture to mark its 20 years anniversary said “the 20 year period have been an interesting journey with several layers of challenges unfolding in our wake, amidst individual and team sacrifices, unrelenting commitment to excellence and unrivalled zeal to succeed.”
He added that “Custodian and Allied established in 1995 comprises of Custodian and Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees and CrusaderSterling Pensions Limited is today the delight of all critical stakeholders; a shining example among peers for all that is true, just and fair in our chosen field of endeavor, and beacon of light for numerous clients.”
“With history being a reliable tool for understanding the past, analysing the present and forecasting the future, may I crave your indulgence to take a quick peep into the immediate future of our company.
“I see a company growing from strength to strength, a company with a foothold on the continent, a company that is every client’s delight and desire on the strength of unparalleled service offering and superior process.’
Oshin speaking on the Company observed that in 20 years of existence, the Custodian Group today sits on assets in excess of N50 billion, annual earnings of over N25 billion, pension assets under management in excess of N160 billion and is comfortably within the top bracket of eminent players in Nigeria’s other financial services sector, says Wole Oshin, director of the Company.
Oshin observed that the full year result published recently, show a profit after tax of N4.5 billion, representing an increase of 26.23 per cent over the N3.603 billion recorded in 2013.
He also informed that the company recorded a 17.8 percent growth year-on-year in owners’ fund complemented by a total equity of N22.48 billion as at December 31, 2014.
To preserve the company’s treasured ideals, ethics and values, he pointed out that the management will continue to favour an organic growth approach; while not foreclosing opportunities for inorganic growth where such present itself and is adjudged credible and profitable.
In recognition of the fact that its operations and activities impact the environment, economy and society, Oshin emphasised that the company is committed to sustainable development of its environment through proper governance and risk-management methods.
“We are a best practices company that has consistently delivered superior performance and do not engage in unhealthy practices capable of negatively impacting the general financial sector. We provide professional service whilst embracing our ethical value system, delivering service to our numerous clients and at the same time reaching out to the general public with products designed with all classes of clients in various business groups in mind.”
Going forward, he promised that the company will continue to exceed expectations by constantly pushing the frontiers of innovation, service delivery, technology as well as processes in delivering tailor-made, customer-focused products and services to its customers while ensuring that every stakeholder derives maximum value from the Custodian franchise.
MODESTUS ANAESORONYE
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