Wole Oshin boosts Custodian stake with new shares worth nearly $1 million

Nigerian insurance tycoon Wole Oshin has increased his stake in Custodian Investment Plc, acquiring additional shares worth about $1 million in late June, reinforcing his position in the Lagos-listed financial services group.

The latest purchase comes shortly after Oshin earned a dividend payout of N4.72 billion ($3.46 million) from Custodian Investment, reflecting his 29.2% stake in the company, equivalent to over 1.7 billion shares.

Custodian posts strong earnings growth, dividend expansion
According to a regulatory disclosure on insider dealings, Oshin purchased a total of 19,531,250 ordinary shares in two tranches on June 26 and June 29, 2026. The first transaction involved 11.9 million shares at N67.05 ($0.04) per share, followed by 7.63 million shares at N68.15 ($0.043) per share, bringing the total value of the acquisition to approximately N1.32 billion ($959,440) at an average price of N67.60 ($0.04).

Custodian Investment delivered a strong financial performance in 2025, underpinned by significant revenue growth and improved profitability. Profit after tax more than doubled to N67.63 billion ($49.2 million), highlighting the group’s expanding earnings base.

Gross revenue rose sharply from N152.01 billion ($110.5 million) to N224.73 billion ($163.4 million), driven by solid contributions across its core insurance and financial services businesses. The company’s board proposed a total dividend of N2.75 per share, comprising a N2.25 final dividend and a N0.5 interim payout. This represents a 120% increase from the N1.25 per share distributed in the previous year, signaling stronger shareholder returns.

Oshin deepens long-term bet on Custodian
Oshin’s latest share purchase, which raises his holdings from 1.72 billion shares to 1.74 billion ordinary shares, underscores continued insider confidence in Custodian Investment’s growth trajectory. As managing director and a key shareholder, his increased exposure reflects a long-term commitment to the group’s strategy and financial outlook.

Custodian’s balance sheet also showed notable expansion, with total assets rising to N1.06 trillion ($769 million), reinforcing its position as one of Nigeria’s fastest-growing financial services firms.

With sustained earnings growth, rising dividends, and renewed insider buying, Custodian Investment continues to attract investor attention within Nigeria’s financial sector.