Cordros gets approval for 3 Subsidiaries

Cordros Capital Limited has announced a major corporate expansion with the establishment of three (3) new subsidiaries.

The company in a statement announced that it had obtained all relevant licenses and regulatory approvals to open shops for its Insurance Brokerage, Trustees, and Registrars businesses.

According to the Group Managing Director, Mr. Wale Agbeyangi, Cordros Insurance Brokers Limited has been granted an operating license by both the Nigerian Council of Registered Insurance Brokers (NCRIB) and the National Insurance Commission (NAICOM).

Also, Cordros Trustees Limited, and Cordros Registrars Limited have been granted operating licenses by the Securities and Exchange Commission (SEC).

Following the achievement of this new corporate milestone, the statement confirmed that the new businesses will commence operations in earnest.

Mr. Agbeyangi said: “We are committed to delivering top-range financial services and consolidating our strengths to sustain leadership positions across our various businesses. This includes Securities Trading, Investment Banking, Asset Management, and now Insurance Brokerage, Trustees, and Registrars.

“We are also deploying the right technology to ensure all our services are accessible remotely, and our clients can achieve their investment objectives on the go” he added.

Chairman, Board of Directors, Engr. Charles Osezua in his reaction said the announcement of the new businesses is in line with the strategic direction of the group to evolve into a leading financial services powerhouse in Nigeria, and with a bold intent for the rest of Africa.

Recall that after commencing operation as a Securities Trading business in 2007, Cordros recorded significant milestones in 2010 and 2013 when it started its Investment Banking and Asset Management businesses, respectively.