Nigerian tycoon Wole Oshin makes another $1.4 million from Custodian stake

Yusuf Abdulfatai -

Nigerian insurance magnate Wole Oshin has witnessed a remarkable upswing in his wealth, amassing a seven-figure increase propelled by a substantial surge in Custodian Investment shares —a n investment powerhouse headquartered in Lagos.

According to data tracked by Billionaires.Africa, Oshin, who holds a significant position in Nigeria’s insurance industry, has seen the market value of his stake in Custodian Investment increase by $1.38 million in just 13 days.

Custodian Investment surges 10 percent on Nigerian Exchange as market cap tops $55 million

Custodian Investment, a Lagos-based investment group founded by Oshin in 1991, has active operations in the Nigerian financial services sector, particularly through its insurance subsidiaries, as well as investments in the country’s real estate sector.

Oshin — as the largest shareholder and group managing director wields significant influence with a 26.81-percent stake, equating to 1,576,662,503 ordinary shares. Under his leadership, the group manages assets exceeding $450 million, prioritizing continuous operational enhancement and safeguarding stakeholder wealth.

In the past 13 days, Custodian Investment’s share price on the Nigerian Exchange has increased by 10 percent — from N7.00 ($0.00878) on Nov. 16 to N7.70 ($0.00964). This has resulted in gains for shareholders, including Oshin, and has pushed the company’s market capitalization above the $55 million mark.

Wole Oshin rides high — recent market surge propels Custodian stake to $15.2 million

As a result of the recent bump in the company’s shares, the market value of Oshin’s stake in Custodian Investment has increased by N1.10 billion ($1.38 million), from N11.04 billion ($13.81 million) on Nov. 16 to N12.14 billion ($15.19 million) at the time of drafting this report.

Due to the recent bump in the company’s shares, which led to the $1.4-million increase in Oshin’s stake in Custodian Investment, the Nigerian insurance tycoon and multimillionaire businessman further solidifies his position as one of the wealthiest investors on the Nigerian Exchange.