Custodian Investment Plc has drawn fresh market attention after its managing director, Wole Oshin, stepped up his stake with a sizable insider purchase in December.
According to a disclosure filed on the Nigerian Exchange, Oshin bought about 87 million shares valued at roughly N3.39 billion ($2.3 million) through a series of trades executed between Dec. 19 and Dec. 24.
The shares were acquired at N39 each, underscoring a significant personal bet by the founder of the Lagos-based financial services group.
While insider dealings are routine on the NGX, transactions of this scale often stand out in a market where large blocks can influence sentiment.
The December trades also build on Oshin’s earlier accumulation, lifting an already substantial holding in a group with interests spanning insurance, pensions and other financial services.
Investors typically watch insider buying closely, viewing it as a potential signal of confidence, particularly amid volatile market conditions. Attention is now likely to turn to Custodian’s next financial results and any dividend guidance.