Custodian Investment Reports N60.67bn Pretax Profit In 2024

Despite the difficult macro-economic environment that characterized the 2024 fiscal year, Custodian Investment Plc has reported profit before tax growth of 133 per cent to N60.673 billion for the year ended December 31, 2024.

The chairman of the company, Dr. Omobola Johnson stated this at the Company’s 30th Annual General Meeting (AGM) held in Lagos.

He said that “our overall strong performance underscores the resilience of our business model and tenacity of our management team staff.”

She reassured shareholders that the board will continue to work with management to deploy the group’s assets professionally, prudently and profitably within the dictates of the evolving local and global economy.

On the future prospects, Johnson noted, looking ahead, several strategic imperatives will be crucial for navigating the economic landscape of 2025, adding that the group will be reinventing business models to adapt to new economic realities by focusing on agility, customer-centricity and value creation by leveraging customer insights and exploring untapped opportunities to reignite market play and revitalize market strategies while aligning spending with core capabilities and eliminating non-value-adding expenses to enhance competitiveness.

She said, “in line with our commitment to deliver strong and sustainable returns to our shareholders, the board approved a total dividend of N1.25 per share for the financial year 2024, which is made up of an interim dividend of 15 Kobo paid earlier and a final dividend of N1.10.”

She said the group would continue to foster a culture of innovation by harnessing emerging technologies and AI-driven solutions to drive efficiency while exploring innovative financing options, optimising capital allocation and strengthening shareholder relationships by engaging with regulators, customers and strategic partners to foster trust and collaborative value creation for sustainable growth.

She observed that despite the challenges of the review year, 2024 was a successful year for the company, noting that the exceptional feat recorded was made possible by the collective efforts, staunch support and dedication of all stakeholders.

The Group managing director of Custodian Investment, Wole Oshin said “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.

We are committed to exploring new investment opportunities within the financial services industry while expanding our footprint across Africa.”

According to him, we recognise that wealth creation is not solely about financial gains but also about fostering a sustainable and lasting impact. Our role as custodians of value extends beyond delivering returns; but it also involves building a legacy of trust, innovation and meaningful contributions to society.