United Capital Plc is a leading pan-African financial services institution focused on leveraging technology to empower businesses, individuals and governments with excellent financial services
We seek to create value for investors across a wide financial spectrum.
Michael Abiodun Thomas – MD/CEO United Capital Trustees Limited
With a legacy spanning over six decades, United Capital Trustees Limited has established itself as a leading player in Nigeria’s trustee services industry. Through its commitment to excellence, innovation, and client-centric solutions, the company has built a reputation for delivering exceptional results and exceeding client expectations. In this interview, we explore the company’s approach to trusteeship, its expertise in navigating complex financial landscapes, and its vision for the future of the industry.
What sets United Capital Trustees Limited apart as a trustee service provider in Nigeria, and how do you maintain excellence in your services?
United Capital Trustees has a legacy that spans over six decades, making us one of the most experienced and trusted names in the Nigerian trustee services industry. Over the years, we’ve grown alongside our clients, evolving our services to meet the changing needs of individuals, corporates, and both the private and public sectors.
Our strength lies in truly listening. We listen to our clients, the market, and industry trends. This insight allows us to create bespoke products and service offerings that address specific needs, whether it’s structuring complex trust arrangements, managing capital market transactions, administering estates, or delivering corporate and public sector mandates. Our service suite is robust, ranging from private and corporate trusts to estate planning, escrow services, and public sector mandates, all available under one roof.
At the core, our mantra has always been to go “above and beyond” for our clients. We don’t compromise on value or quality, and that commitment has kept us consistently recognised as the number one trustee company in Nigeria.
As an award-winning trustee with a track record of leading landmark transactions, what would you say have been the main drivers behind these achievements?
Our success is anchored on three core pillars – Excellence, Enterprise, and Execution, which reflect our values as an organisation, the strength of our people, and the scale and quality of the transactions we deliver.
Our team is made up of highly skilled professionals whose expertise allows us to consistently deliver on complex mandates. We understand Nigeria’s fiscal, financial, legal, and regulatory environments in great depth, and that insight enables us to structure sophisticated trust arrangements, manage capital market transactions, and administer estates with absolute compliance and efficiency. This ability has kept us at the centre of the country’s biggest and most transformative deals.
Today, we’re proud to be the trusted partner on over ₦9 trillion in mandates spanning public, private, and institutional sectors. In 2024 alone, we executed the largest number and highest value of bond transactions on the Nigerian Exchange, which earned us the NGX Made of Africa Award for Best Trustee Company by deal value, the BAFI Award for Best Trustee Company, amongst others. These recognitions are entirely merit-based and a testament to the tangible results we deliver.
Our track record is rich with landmark transactions. A few years ago, we served as Lead Trustee for Nigeria’s first sovereign Sukuk Bond, a precedent-setting ₦100 billion Islamic bond that financed 25 critical road projects nationwide. It was oversubscribed by investors, successfully unlocked ethical capital for infrastructure, and opened new opportunities in Nigeria’s infrastructure financing space. This is only one of many. Over the years, we have participated in numerous corporate, subnational, and supranational government bond issuances, all of which have delivered strong outcomes.
Beyond these large-scale transactions, we also serve thousands of private clients through our trust and estate planning services. Whether the mandate is a multibillion-naira bond or a family trust, helping our clients achieve their goals is, to us, the true measure of success.
How do you stay ahead of industry trends and regulatory changes, and what impact do these have on your operations?
We have been around long enough to see just about every kind of political, economic, and regulatory shift that the Nigerian market has gone through. We have stayed relevant through this because we’ve built a culture of excellence, innovation, and adaptability that keeps us ahead of the curve.
We don’t wait for change to happen before we react. Our research and compliance teams are constantly scanning the horizon for new laws, policies, and market trends, making sure we’re not just compliant, but ready to seize opportunities as they come. It is integral to our fiduciary responsibilities and our position as a market leader.
Regulatory engagement and participation are key actions UCTL have deployed over time to give early insight into emerging regulations and policy directions. From the Securities & Exchange Commission (SEC) to the other related regulatory bodies, we maintain a solid relationship with regulatory bodies and actively participate in industry forums, enabling us to stay ahead of policy changes and contribute to regulatory discourse.
Another big part of staying ahead is investing in our people. We prioritise continuous learning through certifications, technical training, and workshops, so our team is always equipped to deliver the very best service.
In short, our ability to anticipate change, maintain strong regulatory ties, and keep our people at the top of their game is what’s kept us at the forefront of Nigeria’s trustee industry for decades.
How do you ensure transparency, accountability, and integrity in your trustee services, and what measures are in place to protect clients’ assets?
At United Capital Trustees, these values are non-negotiable. We operate with strong corporate governance, guided by clear internal controls, regular audits, and full regulatory compliance under the oversight of the Securities and Exchange Commission (SEC).
When it comes to our clients’ assets, there’s no room for compromise. All transactions are kept in segregated accounts and managed through secure custody structures. Our team upholds the highest ethical standards, acting solely in the best interest of beneficiaries.
We’ve also invested heavily in secure digital tools, for documentation, reporting, and asset tracking. All of this is backed by a strong risk management framework. But more importantly, we keep our clients in the loop. We provide regular updates, full transparency, and a clear line of communication.
What are some of the most significant challenges facing trustee companies in Nigeria today, and how is your company addressing these challenges?
The landscape is dynamic, from macroeconomic uncertainty to regulatory changes and low public awareness of trust services.
We tackle this head-on by:
How do you build and maintain strong relationships with your clients, and what kind of support do you offer them?
Building and maintaining strong client relationships is central to our service ethos. We understand that trust is earned through consistent performance, transparency, and tailored value delivery. We adopt a client-centric approach, ensuring each solution is aligned with the client’s unique goals, whether in estate planning, investment schemes, or structured finance. Every client is supported by a dedicated Relationship Manager who provides proactive communication, timely updates, and strategic guidance.
Our support doesn’t end when a deal closes. We stay engaged through execution, monitoring, and post-transaction advisory. Plus, we invest in client education, sharing market insights, hosting webinars, and providing thought leadership to empower our clients to make informed decisions.
It’s this hands-on approach that has kept us a trusted partner for our clients for decades.
What role do you see technology playing in the future of trustee services, and how is your company leveraging technology to enhance its operations?
Technology has also been a game-changer for us. We have embraced innovation and digital transformation to simplify documentation, improve transparency, and enhance client experience.
Today’s clients expect real-time visibility, not just monthly statements, and our platforms deliver that with instant updates, secure onboarding, and seamless documentation. On the compliance side, we’ve automated our processes to identify and flag risks proactively.
We’ve also expanded access by making our trust products available through our mobile app, InvestNow, and digitizing services so that individuals and institutions can protect and grow their assets from anywhere.
Our commitment to technology is matched by our commitment to security. Last year, United Capital Group earned the ISO 27001:2024 certification, underscoring our dedication to information security, risk management, and data protection. It’s all part of our mission to blend trusted expertise with cutting-edge tools to deliver the best possible outcomes for our clients.
Looking ahead, what are your company’s plans for growth and expansion, and how do you intend to continue delivering exceptional trustee services to your clients?
At UCTL, we are expanding beyond traditional trustee services to meet the evolving needs of clients.
At United Capital Trustees Limited (UCTL), we are expanding our offerings with new trust solutions, including family, education, Islamic (Waqf), and offshore trust structures. Technology plays a central role in this growth; we’ve digitised onboarding, automated key operations, and enhanced data security to give clients seamless, real-time access to their trust portfolios.
As part of the larger United Capital Group, our reach now extends into the WAEMU region, creating new opportunities for cross-border trust services. Through strong governance, personalised engagement, and ethical fiduciary practice, we remain a trusted, forward-thinking leader in Nigeria’s trust industry.
Kindly share with us some of your past awards and/or recognitions.
Benjamin Franklin once wrote, “Well done is better than well said.”
Culled from: The Guardian