Nigerian insurance tycoon Wole Oshin bags N4.7 billion payout from Custodian

Nigerian insurance tycoon Wole Oshin has raked in a hefty N4.7 billion ($3.5 million) payout from his stake in Custodian Investment Plc, after the diversified financial services group listed on the Nigerian Exchange (NGX) approved a higher shareholder payout.

This payout is part of the group’s approved total dividend of N16.17 billion ($11.84 million) at the 31st annual general meeting (AGM) of the company held virtually on Friday, May 8, 2026 for the 2025 fiscal year, reflecting the company’s robust financial performance.

The dividend is a testament to Custodian Investment’s impressive financial results. The shareholders of the Company duly approved among other resolutions a dividend of N2.75 ($0.002) per share for the 2025 fiscal year, consisting of N2.25 ($0.00164) per share final dividend and N0.5 per share interim dividend.

Oshin’s leadership fuels Custodian’s profit surge, dividend growth
The Audited Financial Statements for the year ended December 31, 2025, together with the Reports of the Directors, Auditors, Independent Consultants on Board Performance Evaluation and Audit Committee Report was laid before Members at the just concluded AGM.

Custodian Investment, under Wole Oshin continues to deliver standout financial performance, underpinned by strong revenue expansion and improved earnings quality. Profit after tax more than doubled to N67.63 billion ($49.2 million), reinforcing the group’s position as one of Nigeria’s fastest-growing financial services firms.

The impressive earnings growth was driven by a sharp rise in gross revenue, which climbed from N152.01 billion ($110.5 million) to N224.73 billion ($163.4 million), reflecting robust contributions across its core business segments. The group’s balance sheet expansion was equally striking, with total assets surging to N1.06 trillion ($769.0 million), highlighting strengthened financial capacity and long-term stability.

Oshin’s Custodian stake delivers $3.5 million dividend windfall
The payout follows a strong earnings performance by Custodian Investment Plc, prompting its board to propose a dividend of N2.75 ($0.002) per share. This dividend which was approved at the AGM, representing a 120-percent increase from N1.25 ($0.00091) paid in the previous year.

Shareholders also approved key board resolutions at the company’s AGM, including the re-election of directors retiring by rotation, Mimi Ade-Odiachi, Binta Max-Gbinije, and Olakunle Ade-Ojo, son of Nigerian auto magnate Michael Ade-Ojo. The meeting further ratified the appointments of Tunde Sodade as an Independent Non-Executive Director and Folasope Aiyesimoju as a Non-Executive Director.

Oshin, who holds a 29.2% stake in Custodian Investments, which is over 1.71 billion shares, stands to receive N4.72 billion ($3,46 million), solidifying his position as one of Nigeria’s richest insurance bankers and a prominent dividend earner in the Nigerian financial services industry.