1. What sets First Trustees Limited apart as a leading trustee service provider in Nigeria, and how do you maintain excellence in your services?
First Trustees Limited has been a trusted name in the industry for over 47 years, and our longevity is no coincidence. As a subsidiary of one of Nigeria’s leading financial institutions (First Holdco Plc), we benefit from a strong foundation of credibility and stability.
What truly sets us apart is our commitment to innovation. We were the first in the industry to launch a dedicated radio series on estate planning, titled ‘The Legacy Series’, which has been airing for over a decade. It broadcasts weekly across three major cities in Nigeria: Lagos, Abuja, and Port Harcourt.
We take pride in being pioneers of Islamic Estate Planning in Nigeria. For the past six years, we have hosted the Islamic Estate Planning Clinic in Abuja and have recently expanded to Ibadan and Port Harcourt. These clinics have become annual events, providing valuable insights to stakeholders interested in inheritance and legacy planning.
Our media outreach extends beyond radio. Over the past three years, we have appeared on various television programs and launched a podcast series where we continue to educate people on the importance of Estate Planning. We have completed two seasons and season three is set to start airing soon. You can watch past episodes on our official YouTube Page – https://www.youtube.com/@fbnquestofficial
Excellence is a core value that drives us to deliver exceptional service to our clients and the wider public. Our commitment to this value-centric approach has resulted in numerous awards and recognition, establishing us as a leading trustee company in Nigeria.
2. How do you stay ahead of industry trends and regulatory changes, and what impact do these have on your operations?
Staying ahead of industry trends and regulatory developments is not just an obligation for us; it’s a vital part of our strategic vision. We take pride in our highly skilled and proactive team, whose expertise makes navigating this landscape seamless.
Our strategy encompasses thorough market research, proactive regulatory monitoring, and active participation in key industry events and forums. By prioritising continuous engagement and knowledge sharing initiatives, our team is always prepared to anticipate changes and adapt swiftly. This forward-thinking approach empowers us to adopt best practices that keep us competitive while significantly enhancing the quality and sustainability of the structures we offer our clients. Whether for individuals or corporate clients, our commitment to staying ahead ensures that we can help our client preserve their wealth and assets confidently, securing their future with long-term stability.
3. Can you share a notable achievement or success story from your company that showcases your expertise in trustee services?
One of our most notable achievements is our active participation in all Federal Government of Nigeria (FGN) Sukuk programs, which reflects the trust and credibility we have cultivated over the years. This solidifies our status as a leading provider of trustee services.
Furthermore, we have expertly managed a diverse range of businesses and estates for over two decades. While many businesses have faced hardships due to fluctuating government policies and economic uncertainty, our capability to not only safeguard but also enhance our clients’ assets is a testament to our expertise.
Our enduring relationships and proven success in delivering customised, sustainable solutions highlight our comprehensive understanding of wealth preservation and Estate Planning for both individuals and corporations.
4. How do you ensure transparency, accountability, and integrity in your trustee services, and what measures are in place to protect clients’ assets?
At First Trustees, our commitment to transparency and integrity defines every aspect of our operations. We take a vital step in safeguarding your investments by strictly segregating client assets from our company’s funds. This eliminates any risk of commingling, ensuring that your resources are protected from potential misuse or mismanagement.
Our investment philosophy is rooted in a clear hierarchy: we prioritise preserving your wealth, then focus on growth, and finally on distribution. Every investment decision we make is guided by this principle. We also recognise that some clients may seek more aggressive strategies. In these instances, we require a formal indemnity from the client before proceeding, which safeguards both parties and upholds our dedication to accountability and effective stewardship.
Moreover, we empower our clients by providing 24/7 access to their account statements and records, offering complete transparency and real-time monitoring of their investments. Together with our strong governance framework, these practices have fostered enduring trust with our clients over the years, reinforcing our position as a reliable partner in your financial journey.
5. What are some of the most significant challenges facing trustee companies in Nigeria today, and how is your company addressing these challenges?
One significant challenge we face is the lack of public awareness regarding Estate Planning and Legacy Management. Many cultural attitudes, particularly concerning Wills, hinder open discussions, as they often associate these topics with death.
To combat this, we provide continuous education and engagement. Our Legacy Series Campaign, featured on radio and television, along with the informative Legacy Room on YouTube and our social media pages, is designed to clarify estate planning and make it easier to understand.
These platforms empower us to reach diverse audiences, fostering a culture of informed legacy planning and encouraging essential conversations about the future.
6. How do you build and maintain strong relationships with your clients, and what kind of support do you offer them?
Our top priority is client satisfaction. We have robust technical teams across our Private, Public, and Corporate Trust businesses, supported by a dedicated Business Development team that offers personalised relationship management.
Our structure ensures that every client receives attention. Additionally, we have a responsive Customer Service team, and we operate under a standard Service Level Agreement (SLA) that guarantees timely resolution of client issues and requests. This combination of expertise and responsiveness helps us build lasting, trust-based relationships with our clients.
7. 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 is becoming increasingly crucial in trustees’ services, and we are fully embracing this shift. We have launched a Wills portal that enables clients to create a Simple Will in under 10 minutes, streamlining what was once a lengthy process.
Additionally, we utilise digital platforms for client engagement, onboarding, and compliance checks, which improves efficiency and reduces the likelihood of human error.
Looking ahead, we are developing a more integrated Trust platform that will include AI-powered features and real-time dashboards to enhance communication and build greater trust with our clients.
8. 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?
We understand that each client’s needs are unique. Therefore, we focus on providing customised trust structures instead of one-size-fits-all solutions. To support this mission, we invest significantly in our team, ensuring they possess the expertise needed to design and manage tailored arrangements.
We are also enhancing our technological capabilities. Our goal is to develop a fully integrated trust platform that allows clients to access their portfolios, legal documents, and initiate reviews from any device, without needing to contact us directly.
In terms of expansion, we are reinforcing our local presence while also establishing strategic partnerships with offshore trust companies. Given the jurisdictional nature of trust arrangements, these global collaborations are essential for meeting our clients’ evolving needs.
9. Kindly share with us some of your past awards and/or recognitions?
Over the years, First Trustees has been honoured with several prestigious awards that reflect our leadership and innovation in the trustee services space. Some of these include:
- Best Trustee Company in Nigeria – BusinessDay Awards (2023)
- Non-Interest Trustee of the Year – African International Conference on Islamic Finance (2023)
- Excellence in Wealth Management – African Banker Awards (2022)
- SEC-Compliant Trustee Firm of the Year – Nigerian Financial Awards (2021)
- Innovation Award for Digital Trust Solutions – FirstBank Group (2020)
- Award of Excellence in Islamic Finance – AICIF (2017)
These recognitions affirm our commitment to excellence, innovation, and client-focused service delivery.