Nigeriaâ€™s Custodian Investment Plc has said it is not affected by the bankruptcy that was filed by Abraaj Holdings â€“ a Dubai-based investment firm with operations in Africa, Asia, Latin America, Middle East and Turkey.
Aureos Africa Fund, which is managed by Abraaj Investment Management Limited (AIML), holds minority shares of Custodian Investment Plc.
A court order on June 18, 2018, had appointed executives from PwC and Deloitte as joint provisional liquidators of Abraaj Holdings.
In a statement made by Abraaj Holdings, â€œthe court-supervised restructuring of Abraaj Holdings would have â€œminimum impactâ€ on the day-to-day operations of the management of the funds and their portfolio companies.â€
In response to the liquidation, Group Managing Director of Custodian
Investment Plc, Mr. Wole Oshin, said: â€œAbraaj are just managers not shareholders. They manage Aureos Africa fund who has some shares in Custodian.
â€œOur stock market prices have remained steady, and the strength of our company will not be deterred regardless of this event.â€
â€œThe vision of Custodian Investment Plc remains the same. Our institutional capacity is managed by a board of thoroughbred professionals with varied experience.
â€œThe management is focused on building capacity and shareholder value whilst ensuring the companyâ€™s financial strength and ranking as an eminent player in Nigeriaâ€™s other financial services sector of the economy is maintained,â€ he added.