Ecobank Nigeria Limited has officially launched its custody business, following the acquisition of regulatory approvals from the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN).
Thank you for reading this post, don't forget to subscribe!The new custody services will be offered through EcobankNominees Limited, a special entity designed to hold clients’ assets separately from the bank’s assets.
This expansion follows Ecobank Group’s extensive experience in providing custody services across Central Africa, Francophone, and Anglophone West Africa, managing over $4 billion in assets under custody.
In a statement made in Lagos, Bolaji Lawal, Managing Director/Regional Executive of Ecobank Nigeria, emphasized that the new custody services will enhance the bank’s ability to provide valuable banking and investment solutions.
He highlighted Ecobank’s commitment to being the preferred platform for convenient, affordable, and immediate banking services in Nigeria.
Lawal noted, “As a Pan-African Bank with access to other African markets, we identified a gap in custody services in Nigeria. Our new offering aims to provide Nigerian investors with secure asset protection and facilitate seamless business interests across the continent.”
Adebola Adedeji, Head of Custody and Managing Director of Ecobank Nominees Limited, confirmed that the custody business is fully operational and actively signing on customers.
She explained, “The custody business positions Ecobank as a comprehensive provider of premium financial services and investment solutions. Our advanced technology will enhance client experience throughout the investment cycle, offering services such as settlements, fund administration, corporate actions processing, and more.”
