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Custodian Investment
On this page
Company details
- Legal name
- Custodian Investment Plc
- Listing
- CUSTODIAN on the Nigerian Exchange, active · ISIN NGCUSTODYIN6 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · audited financial statements, signed / final · source
-
Insurance revenue (IFRS 17)
NGN 141 billion
141,446,347 NGN thousands · p41
+47.0% vs 2024
IFRS 17 insurance revenue, as printed: not gross written premiums.
-
Insurance service result
NGN 12.4 billion
12,378,551 NGN thousands · p41
Change not shown.
-
Profit / (loss) for the year
NGN 67.6 billion
67,630,438 NGN thousands · p41
+22.4% vs 2024
-
Total assets
NGN 1.06 trillion
1,058,821,233 NGN thousands · p40
+154.4% vs 2024
-
Insurance contract liabilities
NGN 271 billion
270,899,849 NGN thousands · p40
+38.7% vs 2024
-
Total equity
NGN 219 billion
218,546,160 NGN thousands · p40
+54.6% vs 2024
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Not shown: the prior-year figure is zero or negative.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2025 — audited financial statements, signed / final; reported for the year · source
- FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Interest income | 53,535,041 | 34,425,990 |
| Interest expense | (4,670,970) | –1 |
| Operating and Investment Income2 | 29,753,459 | 21,357,894 |
| Net fair value gain3 | 41,611,142 | 15,683,655 |
| Net realised gains4 | (1,141,787) | 6,782,590 |
| Investment result | 119,086,885 | 78,250,129 |
| Insurance service revenue | 141,446,347 | 96,227,786 |
| Insurance service expenses | (76,983,047) | (68,391,204) |
| Net expense from reinsurance contract held | (52,084,749) | (35,041,503) |
| Insurance service result | 12,378,551 | (7,204,921) |
| Finance expenses from insurance contracts (net) | (31,263,725) | (8,986,738) |
| Finance income /(expense) from reinsurance contracts (net)5 | 410,148 | (113,277) |
| Net insurance finance expenses | (30,853,577) | (9,100,015) |
| Direct operating expenses6 | (9,286,078) | (7,984,989) |
| Net income7 | 91,325,781 | 53,960,204 |
| Impairment allowance | (917,702) | (642,249) |
| Finance costs | (393,055) | (238,296) |
| Bargain purchase on subsidiary acquisition8 | 9,341,898 | –9 |
| Unrealised foreign exchange gain10 | (2,781,034) | 23,248,246 |
| Management expenses11 | (21,111,319) | (16,449,185) |
| Share of result of equity accounted investee | 1,912,753 | 1,860,564 |
| Share of loss from investment in joint venture12 | (25,446) | –9 |
| Profit before taxation | 77,351,876 | 62,402,153 |
| Income tax expenses | (9,721,438) | (7,129,223) |
| Profit for the year | 67,630,438 | 55,272,930 |
| Equity-accounted investee -share of OCI13 | 47,266 | (1,724) |
| Net gain on equity instrument at FVOCI14 | 3,292,535 | 4,821,072 |
| Revaluation surplus on freehold property15 | 1,684,276 | 257,994 |
| Reclassification to Profit or loss of derecognition of asset at FVTOCI16 | –17 | (71,727) |
| Net loss on debt instruments at fair value through other comprehensive income18 | 5,912,503 | (456,018) |
| Other comprehensive income for the period net of tax | 10,936,580 | 4,549,597 |
| Total comprehensive income for the period | 78,567,019 | 59,822,527 |
| Non-controlling interests19 | 1,791,302 | 1,275,725 |
| Owners of the parent20 | 76,651,508 | 58,455,280 |
| Non-controlling interests21 | 1,915,511 | 1,367,247 |
| Remeasurement of carring amount on additional units acquired22 | Not reported in this filing23 | 662,869 |
- Printed “-”, read as nil: subtotal_arithmetic: is.investment_return.
- Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
- Printed “-”, read as nil: subtotal_arithmetic: is.other_comprehensive_income.
Notes and alternative reported figures (20)
- “Operating and Investment Income” is an issuer-specific line, not mapped to a shared definition: Note 34.
- “Net fair value gain”: mapping to a shared definition is uncertain. Printed 'Net fair value gain' (note 35): fair value gains on financial assets and investment properties.
- “Net realised gains” is an issuer-specific line, not mapped to a shared definition: Note 36: realised gains (losses) on investments.
- “Finance income /(expense) from reinsurance contracts (net)” is an issuer-specific line, not mapped to a shared definition: Note 42.
- “Direct operating expenses” is an issuer-specific line, not mapped to a shared definition: Note 39.
- “Net income” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: investment result, insurance service result, net insurance finance expenses and direct operating expenses.
- “Bargain purchase on subsidiary acquisition” is an issuer-specific line, not mapped to a shared definition: Note 13: gain on a bargain purchase.
- “Unrealised foreign exchange gain”: mapping to a shared definition is uncertain. Printed 'Unrealised foreign exchange gain' (note 45); the 2025 amount is a loss.
- “Management expenses” is an issuer-specific line, not mapped to a shared definition: Note 46.
- “Share of loss from investment in joint venture” is an issuer-specific line, not mapped to a shared definition: Note 15.
- “Equity-accounted investee -share of OCI” is an issuer-specific line, not mapped to a shared definition: OCI not reclassified.
- “Net gain on equity instrument at FVOCI” is an issuer-specific line, not mapped to a shared definition: OCI not reclassified (note 47).
- “Revaluation surplus on freehold property” is an issuer-specific line, not mapped to a shared definition: OCI not reclassified (note 48).
- “Reclassification to Profit or loss of derecognition of asset at FVTOCI” is an issuer-specific line, not mapped to a shared definition: OCI reclassified (note 47).
- “Net loss on debt instruments at fair value through other comprehensive income” is an issuer-specific line, not mapped to a shared definition: OCI that may be reclassified (note 47); label as printed ('Net loss') although the 2025 amount is a gain.
- “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Profit for the period attributable to NCI.
- “Owners of the parent” is an issuer-specific line, not mapped to a shared definition: TCI, owners of the parent.
- “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: TCI, NCI.
- “Remeasurement of carring amount on additional units acquired” is an issuer-specific line, not mapped to a shared definition: Note 14: remeasurement of an equity-accounted investee's carrying amount on additional units acquired (2024 only).
- Not reported in this filing: Not printed for 2025: the line 'Remeasurement of carring amount on additional units acquired' carries a 2024 amount (662,869) only; the 2025 column is left blank (p41, checked on the page image).
Balance sheet
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Cash and cash equivalents | 174,182,932 | 43,989,037 |
| Trade receivables1 | 993,364 | 691,013 |
| Other receivables and prepayments2 | 29,850,660 | 20,027,838 |
| Inventories | 3,219,098 | 8,729,998 |
| Statutory deposits3 | 26,058,065 | 4,037,175 |
| Financial assets: | 596,524,909 | 279,174,934 |
| - Fair value through profit or loss | 159,000,952 | 110,719,420 |
| - Fair value through OCI | 307,032,438 | 47,337,246 |
| - Debt securities at amortised cost | 130,491,519 | 121,118,268 |
| Loans and advances to customers | 130,789,376 | –4 |
| Reinsurance contract assets | 15,016,067 | 11,847,577 |
| Right-of-use-assets | 44,727 | 111,737 |
| Investments in joint ventures5 | 94,695 | 120,141 |
| Equity accounted investee | 7,879,458 | 12,312,605 |
| Investment properties | 41,404,206 | 18,174,500 |
| Property, plant and equipment | 25,160,897 | 14,612,511 |
| Intangible assets | 2,617,811 | 277,273 |
| Deferred tax assets | 4,984,968 | 2,132,209 |
| Total assets | 1,058,821,233 | 416,238,549 |
| Trade payables6 | 77,315,757 | 28,838,615 |
| Other payables7 | 33,566,838 | 27,143,472 |
| Current income tax payable | 16,181,655 | 4,310,487 |
| Due to Banks and other financial institutions | 176,648,306 | –8 |
| Due to Customers | 242,188,713 | –8 |
| Interest bearing loans and borrowings | 8,974,804 | 3,380,004 |
| Reinsurance contract liabilities | 78,193 | 72,594 |
| Insurance contract liabilities | 270,899,849 | 195,359,004 |
| Investment contract liabilities | 3,327,936 | 3,557,950 |
| Deferred tax liabilities | 11,093,022 | 12,237,306 |
| Total liabilities | 840,275,073 | 274,899,432 |
| Issued share capital | 2,940,933 | 2,940,933 |
| Share premium | 6,412,357 | 6,412,357 |
| Retained earnings | 143,437,414 | 96,775,025 |
| Contingency reserve9 | 25,703,468 | 17,569,448 |
| Fair value reserves | 14,138,080 | 5,308,429 |
| Revaluation reserve | 3,055,867 | 1,371,591 |
| Other reserves10 | 3,102,209 | –11 |
| Equity attributable to owners of the parent | 198,790,328 | 130,377,783 |
| Non-controlling interests | 19,755,832 | 10,961,334 |
| Total equity | 218,546,160 | 141,339,117 |
| Total equity and liabilities | 1,058,821,233 | 416,238,549 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
- Printed “-”, read as nil: subtotal_arithmetic: bs.equity_attributable_to_owners.
Notes and alternative reported figures (8)
- “Trade receivables”: mapping to a shared definition is uncertain. Printed 'Trade receivables'; other receivables and prepayments are printed on their own line.
- “Other receivables and prepayments” is an issuer-specific line, not mapped to a shared definition: Note 10.
- “Statutory deposits” is an issuer-specific line, not mapped to a shared definition: Note 19: deposits held with regulators.
- “Investments in joint ventures” is an issuer-specific line, not mapped to a shared definition: Note 15.
- “Trade payables” is an issuer-specific line, not mapped to a shared definition: Note 24.
- “Other payables” is an issuer-specific line, not mapped to a shared definition: Note 27.
- “Contingency reserve” is an issuer-specific line, not mapped to a shared definition: Statutory contingency reserve of the insurance subsidiaries (note 32).
- “Other reserves” is an issuer-specific line, not mapped to a shared definition: Note 32.
Cash flow
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Cash generated from operations | 30,908,604 | 55,946,836 |
| Income tax paid | (3,764,817) | (1,483,319) |
| Net cash provided by/(used in) operating activities | 27,143,787 | 54,463,517 |
| Purchase of property, plant and equipment | (4,782,224) | (1,125,315) |
| Additions to right-of-use asset1 | –2 | (126,020) |
| Proceeds on disposal of property, plant and equipment | 136,386 | 11,888 |
| Proceeds from disposal of financial assets (FVTPL)3 | –2 | 18,867,234 |
| Proceeds from disposal of financial assets (FVOCI)4 | 117,585,536 | –2 |
| Proceeds on disposal of investment property5 | 600,000 | –2 |
| Deposits for shares6 | (9,011,456) | (14,587,838) |
| Purchase of intangible | (2,117,201) | (92,088) |
| Purchase of investments (financial assets)7 | (171,958,665) | (87,208,507) |
| proceed on disposal of amortised cost financial assets8 | 149,894,589 | Not reported in this filing9 |
| Redemption of investments (financial assets)10 | 8,493,770 | 15,023,357 |
| Purchase of investment in equity accounted investee11 | –2 | (609,327) |
| Purchase of investment in subsidiaries12 | (29,003,965) | –2 |
| Dividend received13 | 4,462,110 | 2,499,138 |
| Interest income received | 51,327,442 | 34,425,990 |
| Net cash (used)/provided by investing activities | 115,626,323 | (32,921,488) |
| Repayment of borrowings | (2,285,401) | (724,061) |
| Interest paid on borrowings | (742,791) | (230,917) |
| Proceed from borrowing | –14 | 1,949,805 |
| Dividend Paid during the period | (8,158,446) | (5,032,386) |
| Net cash used in financing activities | (11,186,638) | (4,037,559) |
| Net increase in cash and cash equivalents | 131,583,472 | 17,504,470 |
| Cash and cash equivalents at beginning of the year | 43,989,037 | 25,059,031 |
| Effect of change in exchange rate* | (1,389,577) | 1,425,536 |
| Cash and cash equivalents at end of the period | 174,182,932 | 43,989,037 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (12)
- “Additions to right-of-use asset” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Proceeds from disposal of financial assets (FVTPL)” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Proceeds from disposal of financial assets (FVOCI)” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Proceeds on disposal of investment property” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Deposits for shares” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 10).
- “Purchase of investments (financial assets)” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “proceed on disposal of amortised cost financial assets” is an issuer-specific line, not mapped to a shared definition: Investing activities (2025 only).
- Not reported in this filing: Not printed for 2024: the line 'proceed on disposal of amortised cost financial assets' carries a 2025 amount (149,894,589) only; the 2024 column is left blank (p44, checked on the page image).
- “Redemption of investments (financial assets)” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Purchase of investment in equity accounted investee” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Purchase of investment in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Dividend received” is an issuer-specific line, not mapped to a shared definition: Investing activities.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2025 | Dividends paid (cash flow statement) | Dividend Paid during the period |
(8,158,446) | NGN thousands | Audited financial statements, p44 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividend Paid during the period |
(5,032,386) | NGN thousands | Audited financial statements, p44 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
Custodian Investment Plc Consolidated and Separate Financial Statements 31 December 2025
Year ended 31 December 2025 · Audited financial statements · signed / final
Audit: Deloitte & Touche (Faturoti Ayonike), unmodified opinion · signed
Auditor's sign-off: Faturoti, Ayonike for Deloitte & Touche
Final status: Deloitte & Touche's independent auditor's report (pp33-39) on the consolidated and separate statements is unmodified, signed by Faturoti Ayonike (FRC/2022/PRO/ICAN/004/611525) with the ICAN seal and dated 31 March 2026 (p39, page image). The statement of financial position records board approval on 27 March 2026 with the visible signatures of the Chairman, the Managing Director and the CFO (p40, page image).
- Document date
- 31 Mar 2026
- Auditor's report
- 31 Mar 2026
- Board approval
- 27 Mar 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- consolidated statements · NGN thousands (printed “In thousands of naira”)
- The auditor reports contraventions of the FRC Act, the NAICOM Act and NGX rules with penalties of N21,630,000 paid (note 46), and an unmodified ICFR limited-assurance conclusion (p39).
- 'Remeasurement of carring amount on additional units acquired' (sic) prints only a 2024 Group amount (662,869) and 'proceed on disposal of amortised cost financial assets' only a 2025 Group amount (149,894,589) (pp41, 44, page images).
- In the Company columns, profit attributable to owners of the parent is printed equal to total comprehensive income (34,344,836) rather than profit for the year (33,166,009) (p41); Company columns are not transcribed.
- The group acquired Quest Merchant Bank Limited in 2025 (bargain purchase gain 9,341,898, note 13): loans and advances to customers, due to banks and due to customers appear for the first time (p40).
- The Group 31-Dec-24 and 1-Jan-24 columns are headed 'Restated' (pp40, 41, 44): prior-period errors corrected under IAS 8, including the remeasurement of the investment in UPDC Reit under IAS 28 with 1 January 2024 the earliest period restated (note on correction of an error, pp167-168; 'Refer to note10 and note 65', p40). The restated comparatives are transcribed as printed.
Technical details
- File
- 173 pages, with a text layer
- SHA-256
f397d774eb3500bc9262b2d53aced0bcdd7dd282bda5439de2460b56cbb593ed- Entity as printed
- Custodian Investment Plc
- Exchange copy
- retrieved 2026-10-08T18:00:52Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (16 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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