Trust Services in Nigeria can accurately be described as a new and evolving market. The business as an organised enterprise; the way it exists in other parts of the world, has only recently evolved in the last 10 years in Nigeria.
Trust Services are usually divided into two main areas
- Private Trust Services_- This includes the traditional areas of Trust Services from Estate and retirement planning, Generational wealth management, Business succession planning, Living Trusts, Probates services.
- Commercial/Corporate Trust Services – This is the area that is more common in Nigeria and consists mainly of Trustee services provided in Loan Syndication, Money and Capital Market Transactions as well as Trusteeship of employee benefits and provident funds.
The Capital Market operations have been the more traditional of the two. This consists mostly of companies that act as Trustees to Capital Market offerings, including:
- SEC regulated Unit Trust Schemes,
- Specialised mutual funds
- Publicly traded Debt Instruments
- Private Debt Instruments
- Public Sector Bonds