Custodian & Allied celebrates growth with anniversary lecture

THE board and management of Custodian and Allied Plc, has said that the company has been experiencing impressive growth which has become delight in the industry.

The company’s Chairman, Chief Michael Ade Ojo, speaking during a public lecture to commemorate the 20th anniversary of the organisation in Lagos, said

It has 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.”

According to him, “Custodian and Allied comprising 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.’

Similarly, the Managing Director, Wole Oshin, also disclosed that “In just 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.”

In the 2014 full year result published recently, Custodian and Allied posted a profit after tax of N4.5 billion for the year, representing an increase of 26.23 per cent over the N3.603 billion recorded in 2013.

Oshin 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.