FBNQuest Trustees Records N6trn Transactions


Nume Ekeghe

FBNQuest Trustees has disclosed that its liquid trust assets under management (AUM) is in the excess of N40 billion and has recorded transactions in exceeding N6 trillion.

The Chief Executive Officer of FBNQuest Trustees, Mr. Adekunle Awojobi, revealed this at the company’s 40th anniversary celebrations in Lagos at the weekend.

Speaking about the firm’s milestone, Awojobi, said: “In terms of growth and financial performance, the company has continuously delivered shareholder value in alignment with the mandate of the Group. “From a share capital of about N30 million, the company has increased to a share capital of N3billion in 2019; and has grown its profit after tax (PAT) year-on-year consistently, with liquid trust assets under management in excess of N40 billion as at June 30 2019.

“We currently have our fingerprints in transactions in excess of N6 trillion.”

While emphasising the firm’s impact on trusteeship business in Nigeria and the economy, he said: “From when we began our journey in 1979, FBNQuest Trustees has delivered impeccable solutions for the safekeeping of our clients’ assets, the transfer of generational wealth, and the preservation of their legacies.

“We are extremely proud to be a part of the 125-year old legacy of First Bank of Nigeria Limited, and the rich heritage of FBN Holdings as we celebrate a 40-year track record of distinction, dependability and professionalism in the trustee business.

“We want to thank everyone who has contributed to the growth of the company over the years, as we continue to provide excellent services to our clients.

“We also take this opportunity to recommit to excellently sewing our clients across diverse sectors to ensure that their legacies are preserved,” he added.

Also, the Group Chairman, FBN Holdings Plc, Dr. Oba Otudeko, while alluding to the importance of leaving a lasting legacy urged companies and individuals that attended the ceremony to plan early to leave a lasting legacies in wherever they find themselves.

He said: “FBN trustees has grown to not just a notable company, but also as an industry leader. Indeed, it has been 40years of innovation and remarkable success.

“The desire to leave a heritage for your children and the society a better way from where you met it is usually a motivation for many people particularly of people with great soundness of mind.

“Studies have showed that without strategic management legacies can easily be eroded. So the significance of FBN quest limited is very apparent.”

Also, in her keynote address, the Senior Partner, TLcom Capital LLP and former Minister for Communications, Mrs. Omobola Johnson, who also alluded to the importance of leaving an important legacy for individuals and businesses, said: “Be purposeful about defining your legacy and be very deliberate about your actions and behaviours and in the case of institution, put process and systems, be employed to achieve this purpose and may we also as individuals and employers of institutions live to leave good and lasting legacies.”