Wole Oshin’s fortunes have skyrocketed, with a seven-figure increase fueled by a significant increase in Custodian investing shares – a Lagos-based investing powerhouse.
Oshin, who is well-known in Nigeria’s insurance industry, has seen the market value of his Custodian Investment holding rise by $1.38 million in just 13 days.
Custodian Investment, a Lagos-based investment firm created by Oshin in 1991, has active operations in the Nigerian financial services sector, primarily through its insurance companies, as well as real estate interests in the country.
With a 26.81 percent interest, equivalent to 1,576,662,503 ordinary shares, Oshin has substantial influence as the largest stakeholder and group managing director. Under his direction, the business manages assets worth more than $450 million, with a focus on continual operational improvement and safeguarding stakeholder value.
Custodian Investment’s share price on the Nigerian Exchange has risen by 10% in the last 13 days, from N7.00 ($0.00878) on Nov. 16 to N7.70 ($0.00964). This has resulted in profits for shareholders, including Oshin, and has increased the company’s market value above $55 million.
The market value of Oshin’s holding in Custodian Investment has increased by N1.10 billion ($1.38 million) as a result of the recent increase in the company’s shares, from N11.04 billion ($13.81 million) on Nov. 16 to N12.14 billion ($15.19 million) at the time of writing this report.
Due to the recent increase in the company’s shares, which resulted in a $1.4-million increase in Oshin’s interest in Custodian Investment, the Nigerian insurance mogul and multimillionaire businessman reinforces his position as one of the Nigerian Exchange’s wealthiest investors.
