Nigerian tycoon Wole Oshin gains $40 million as Custodian stake nears $100 million in 2026

Nigerian insurance tycoon Wole Oshin has witnessed a sharp increase in the value of his stake in Custodian Investment Plc, with gains exceeding $40 million as his holdings in Custodian near $100 million. The surge, driven by a rally in the company’s shares on the Nigerian Exchange (NGX), underscores Oshin’s prominent role in Nigeria’s financial sector and highlights the market’s bullish momentum. 

As the largest shareholder and group managing director, Oshin wields considerable influence, holding a 29.2% stake, both direct and indirect stake through Gratitude Africa Limited, which amounts to 1.72 billion shares in the NGX-listed Custodian Investment. Since the beginning of the year 2026, his stake has increased by more than $40 million.

This increase follows more than $25 million gain in 2025, during which his stake increased from less than $20 million to more than $40 million, further cementing Custodian Investment Plc as a core component of his portfolio.

Custodian Investment shows strong performance on NGX
Founded in 1991, Custodian Investment has evolved into a leading financial services group with a broad range of interests, including insurance, pensions, and real estate. The company, under the leadership of Oshin, has earned a reputation for consistent growth, solidifying its position as one of Nigeria’s most valuable financial institutions.

Oshin’s leadership has focused on delivering operational excellence and creating lasting value for the company’s stakeholders. In the past 97 days, the company’s stock has seen a notable increase, rising from N43 ($0.011) to N73 ($0.0123) per share, pushing its market capitalization above $310 million.

Profit doubles, revenue jumps, and dividend rises 80%
Profit after tax more than doubled, climbing from N33.17 billion ($24.1 million) to N67.63 billion ($49.2 million), as gross revenue surged from N152.01 billion ($110.5 million) to N224.73 billion ($163.4 million), reflecting strong underlying growth across operations. 

The Lagos-based investment group’s balance sheet also strengthened significantly, with total assets rising from N80.08 billion ($58.2 million) to N1.06 trillion ($769.0 million). Retained earnings stood at N143.44 billion ($104.3 million), while total equity increased to N218.55 billion ($158.9 million), underscoring improved capital position and earnings quality. 

In line with its robust performance, directors recommended a final dividend of N2 per 50 kobo ordinary share, bringing total dividend for the year ended Dec. 31, 2025, to N2.25, an 80% increase from N1.25 paid in 2024. On the back of this payout, Oshin is set to receive N3.86 billion ($2.81 million) in dividends for the 2025 financial year.

Oshin’s stake soars near $100 million
The increase in stock price, which amounts to 79.11%, coupled with the strengthening of the Nigerian Naira, has also led to a rise in Oshin’s stake. His holdings are now valued at N125.38 billion ($91.08 million), up from N73.85 billion ($50.85 million) at the start of 2026, marking an increase of N51.53 billion ($40.23 million). 

This reflects Oshin’s skill as both a strategic investor and a visionary leader in Nigeria’s financial sector. As Custodian surpasses the $310 million market cap milestone, it demonstrates the company’s resilience and ability to thrive in a competitive market.