Custodian And Allied Clocks 20, Assets Hit N50b | Independent Newspapers Limited
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Custodian And Allied Clocks 20, Assets Hit N50b

Posted: Jun 18, 2015 at 12:21 am   /   by   /   comments (0)

After operating in Nigeria successfully for 20 years, the board and management of Custodian and Allied Plc rolled out the drums to celebrate the 20th anniversary of the organisation in Lagos recently. The entity was established in 1995.

Speaking at the public lecture to commemorate the anniversary, the company’s Chairman, Michael Ade Ojo, 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 noted that “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, 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.

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.