Nigerian insurance tycoon Wole Oshin gains $1.3 million from Custodian stake

Nigerian insurance tycoon Wole Oshin has recently experienced a substantial surge in his net worth, gaining over a million dollars thanks to a significant surge in the shares of Custodian Investment, a Lagos-based investment group.

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 $1.3 million in just 20 days.

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.

The group, which is 26.81-percent owned by Oshin, manages total assets worth more than $450 million and is dedicated to continuously enhancing its operations while creating and protecting wealth for its stakeholders.

In the past 20 days, Custodian Investment’s share price on the Nigerian Exchange has increased by 8.51 percent, rising from N7.05 ($0.00928) on Sept. 20 to N7.65 ($0.0101) as of this report’s writing. This has resulted in gains for shareholders, including Oshin, and has pushed the company’s market capitalization close to the $60-million mark.

As a result of the recent bump in the company’s share price, the market value of Wole Oshin’s stake in Custodian Investment has increased by N946 million ($1.25 million), from N11.12 billion ($14.63 million) on Sept. 20 to N12.06 billion ($15.88 million) as of report writing.

Due to these recent gains, the Nigerian insurance tycoon and multimillionaire businessman has solidified his position as one of the wealthiest investors on the Nigerian Exchange.