Custodian Investment, a Nigerian conglomerate of companies and brands, has recorded a 162 percent surge in its investment results driven by strong investment income powered by Nigeria’s high interest rate hikes.
According to the conglomerate’s unaudited financial statements for 2024, investment results rose to N78 billion from N29.8 billion, aided by an increase in interest income to N34.4 billion in 2024.
“Operating and investment income which consists of interest and rent income, dividends, movements in amortized cost on debt securities and other loans and receivables grew by 66.9 percent to N21.2 billion from N12.7 billion,” the report shows.