In a significant development in Nigerian business news, Kunle Ade-Ojo, the Managing Director of Toyota Nigeria Ltd, has increased his stake in Custodian Investment Plc by acquiring 150 million additional shares valued at approximately ₦2.98 billion . This transaction, disclosed on May 26, 2025, through a notice filed with the Nigerian Exchange, was executed over five tranches between May 19 and May 26 at an average price of ₦19.84 per share.
Prior to this acquisition, Ade-Ojo held 926,136,506 shares in Custodian Investment Plc, representing a 15.7% stake. With the recent purchase, his total holdings have increased to 1,076,136,506 shares, elevating his ownership to 18.3% of the company’s total shares and voting rights .
The investment by the Toyota MD appears to have positively influenced market activity. Following the initial purchase on May 19, daily trading volumes for Custodian shares surged to over 10 million. By May 22, the stock price had risen above ₦21.00, reflecting renewed investor interest .
Custodian Investment Plc has demonstrated strong financial performance in 2025. In the first quarter, the company reported a pre-tax profit of ₦12.3 billion, marking a 3% increase compared to the same period in the previous year. This growth was largely driven by its investment division, which contributed ₦11.8 billion to the pre-tax profit .
Additionally, at its 30th Annual General Meeting held on May 2, 2025, Custodian Investment Plc approved a final dividend of ₦1.10 per share, bringing the total dividend for the 2024 financial year to ₦1.25 per share. The company also re-elected board members and appointed new members to its Statutory Audit Committee .
This strategic move by Kunle Ade-Ojo underscores his confidence in Custodian Investment Plc’s growth prospects and solidifies his position as a significant stakeholder in the company.
