CUSTODIAN INVESTMENT PLC

CONSOLIDATED FINANCIAL STATEMENTS

31 DECEMBER 2022

USTODIAN INVESTMENT PLC

Consolidated Financial Statements

For the year ended 31 December 2022

Financial Statements

Executive summary/financial highlights

Asset and liability highlight

Group

Group

Company

Company

Restated

In thousands of naira

31-Dec-22

31-Dec-21

31-Dec-22

31-Dec-21

Cash and cash equivalents

22,044,849

17,176,184

1,855,128

601,326

Financial assets

136,467,520

113,959,758

3,842,238

5,474,647

Investment properties

11,901,485

11,760,655

7,081,416

7,081,066

Property, plant and equipment

13,279,230

4,696,005

401,425

94,548

Insurance contract liabilities

100,079,820

85,036,841

-

-

Equity attributable to owners of the parent

63,170,401

55,156,865

30,559,371

28,540,308

Total Assets

213,197,374

184,471,539

34,014,366

31,080,034

Income statement highlights

Group

Group

Company

Company

In thousands of naira

31-Dec-22

31-Dec-21

31-Dec-22

31-Dec-21

Gross Revenue

103,075,430

85,740,334

7,003,017

6,017,048

Gross Premium Income

74,137,451

66,228,179

-

-

Sales

5,896,957

825,404

-

-

Dividend Income

919,335

635,842

5,093,706

4,274,082

Fees and Commission

6,154,399

5,537,174

-

-

Other Operating Income

838,603

914,316

1,405,559

1,462,779

Interest Income

15,128,685

11,599,419

503,752

280,187

Operating Expenses

(61,118,296)

(52,553,398)

-

-

Reinsurance Expenses

(27,268,775)

(25,346,914)

-

-

Underwriting Expenses

(6,905,352)

(6,342,712)

-

-

Net Claims Expenses

(22,654,936)

(20,178,646)

-

-

Cost of sales

(4,289,233)

(685,126)

-

-

Changes in Claims / Annuity Reserves

(13,386,806)

4,827,955

-

-

Management Expenses

(10,867,152)

(9,864,689)

(1,319,954)

(1,304,805)

Total comprehensive income for the period, net

of tax

11,197,620

9,938,513

4,959,995

6,577,760

EPS - Basic & Diluted (in kobo)

181

181

84

112

Net assets per share (in kobo)

1,236

937

520

485

i

CUSTODIAN INVESTMENT PLC

Consolidated Financial Statements

For the year ended 31 December 2022

Corporate Information

DIRECTORS

Dr. (Mrs.) Omobola Johnson [Chairman]

Mr. Wole Oshin [Managing Director]

Mr. Richard Asabia

Mr. Ravi Sharma

Mr. Olakunle Ade-Ojo

Mrs. Mimi Ade-Odiachi

Chief (Mrs.) Margaret Giwa

Mr. Adeniyi Falade

SECRETARY

Custodian Trustees Limited

16A, Commercial Avenue

Sabo, Yaba,

Lagos.

Phone: +234 01-2774000-9

REGISTRATION NO

RC No. 171209

REGISTERED OFFICE

Custodian House

16A, Commercial Avenue

Sabo, Yaba,

Lagos.

Phone: +234 01-2774000-9

Email: investors@custodianplc.com.ng

Website: www.custodianplc.com.ng

SUBSIDIARIES

Custodian and Allied Insurance Limited

Custodian Life Assurance Limited

CrusaderSterling Pensions Limited

Custodian Trustees Limited

UPDC Plc.

ASSOCIATE

Interstate Securities Limited

AUDITORS

Deloitte & Touche

Civic Towers, Plot GA1,

Ozumba Mbadiwe Avenue, Victoria Island, Lagos State

ii

CUSTODIAN INVESTMENT PLC

Consolidated Financial Statements

For the year ended 31 December 2022

REGISTRARS

Meristem Registrars & Probate Services Limited

213, Herbert Macaulay Way,

Yaba,

Lagos.

BANKERS

First Bank of Nigeria Limited

United Bank for Africa Plc

Zenith Bank Plc

Guaranty Trust Bank Plc

First City Monument Bank Plc

CONSULTING ACTUARIES

EY Actuary

10th & 13th Floors, UBA House

57, Marina

Lagos.

BRANCH DIRECTORY

CUSTODIAN INVESTMENT PLC

HEAD OFFICE

Custodian House

16A, Commercial Avenue,

Sabo, Yaba,

Lagos.

Tel: [+234] 1 2707206-7, 2793740, 27937401 0700-CUSTODIAN, [+234] 1 2774000-9 Fax: [+234] 1 2707203

P. O. Box 2101, Lagos.

Email: investors@custodianplc.com.ng

Website: www.custodianplc.com.ng

iii

CUSTODIAN INVESTMENT PLC

Consolidated Financial Statements

For the year ended 31 December 2022

SUBSIDIARIES' BRANCH OFFICES

1

Abeokuta

12

Ibadan

34/36 Totoro Road,

9 Onireke Residential Layout

Totoro, Abeokuta,

Ibadan,

Ogun State.

Oyo State.

Tel: 08166904601

Tel: 022-918538

2

Abuja

13

Ikeja

UAC Complex, Plot 273 Samuel

8, Obafemi Awolowo Way,

Ademulegun Street,

Alausa, Ikeja,

CBD, Abuja.

Lagos.

Tel: 09- 2900465

3

Akure

14

Ikorodu

2 & 3rd Floor, Right Wing,

294, Lagos Road,

Bank of Industry (BOI) Building,

Ikorodu,

Alagbaka, Akure,

Lagos.

Ondo State.

Tel: 09069149532

Tel: 07068517931

4

Amuwo Odofin

15

Ilorin

Plot 129, Block 10,

163, Ajase-Ipo Road, Ilorin,

Festac Link Road,

Kwara State,

Amuwo Odofin, Lagos.

Tel: 01-2934178

5

Apapa

16

Jos

Atlantic House

6/7, Boundary Street,

23/27, Wharf Road,

Old Bukuru Park, Jos,

Apapa, Lagos

Plateau State.

6

Asaba

17

Kaduna

Empire House, 339 Nnebuisi Road,

3, kanta Road,

Opposite Stadium,

Turaki Ali House,

Asaba, Delta State.

Kaduna State.

7

Bauchi

18

Kano

Fini Aluminum Premises,

Suite 13, No.15, Bank Road, Kano,

Jolly Nyame Crescent,

Kano State.

Bauchi State

8

Bayelsa

19

Lekki

Opili Complex, 25B, Osiri Road,

3rd Floor Left Wing, Gold Crest Plaza,

Opposite Foundation Faith Church,

Ikota First Gate, Lekki-Epe Expressway,

Lagos.

Ekeki, Yenagoa,

Tel: 09095695900

Bayelsa State.

9

Benin

20

Onitsha

4th Floor, West Wing,

16, Awka Road,

34, Akpakpava Road,

Onitsha,

Benin City, Edo State

Anambra State.

Tel: 09032537339

10

Calabar

21

Osogbo

2nd Floor, 45, Murtala Muhammed

37B, Gbogan, Ibadan Road,

Highway

Opposite Fakunle Comprehensive High

Calabar,

School,

Cross River State.

Osogbo,

Tel: 09095263143

Osun State.

Tel: 08133587587

iv

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Custodian Investment plc published this content on 17 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2023 14:42:01 UTC.