Custodian Investment grows profit to N60bn
CHIGOZIE AMADI
Custodian Investment Plc has recorded a profit before tax of N60.67bn for the 2024 financial year, representing a 133 per cent increase from the N25.99bn posted in 2023.
This was disclosed during the company’s 30th Annual General Meeting held over the weekend in Lagos.
The group also reported a gross revenue of N152bn in 2024, up from N98.87bn in the previous year, marking a 54 per cent year-on-year increase.
Addressing shareholders at the AGM, Chairman of the company, Omobola Johnson, attributed the growth to the strength of the group’s business strategy and management.
“Our overall strong performance underscores the resilience of our business model and the tenacity of our management team and staff,” Johnson stated.
She noted that the board would continue to support management in professionally, prudently, and profitably deploying the group’s assets within the evolving local and global economic contexts.
On the outlook for 2025, Johnson said Custodian would focus on business model reinvention, customer-centricity, and value creation by leveraging insights and exploring untapped opportunities.
“In line with our commitment to deliver strong and sustainable returns to our shareholders, the board approved a total dividend of 125 kobo per share for the 2024 financial year, comprising an interim dividend of 15 kobo and a final dividend of 110 kobo,” she said.
She also highlighted plans to adopt emerging technologies and AI-driven solutions to enhance efficiency while strengthening relationships with regulators, customers, and strategic partners.
Also speaking at the AGM, the Group Managing Director of Custodian Investment Plc, Wole Oshin, said the group’s 2025 strategy would focus on enhancing stakeholder value, innovation, governance, and sustainability.
“As a group, we are committed to identifying and leveraging new investment opportunities that align with our vision of creating and preserving wealth for all stakeholders,” Oshin said.
He added, “We recognise that wealth creation is not solely about financial gains but also about fostering sustainable and lasting impact.”
Oshin reaffirmed the group’s commitment to delivering long-term value through trust, innovation, and meaningful contributions to society.
The PUNCH reported that the founder and Group Managing Director of Custodian Investment Plc, Wole Oshin, has revealed that the Custodian Mentorship Conference has empowered over 5,000 young entrepreneurs since its inception in 2018.
