EAC Trustees Limited

The Trust business provides Trust services, specifically asset holding, investor representation and fiduciary services to corporate and institutional investors. It also provides Wealth Management and Estate Planning Services to high net-worth individuals.


Under the guidance of our executives and directors who have extensive track records of originating and executing some of the largest and most significant trust transactions in Nigeria and indeed across Africa. EAC Trustees has impressive expertise and proficiency in Public and Corporate Trusts. Our team members have advised Municipals and Nigerian Companies who have successfully issued successful government and corporate bond programs within the region. Such experience includes but is not limited to leading roles in the following transactions: –

  • Trustee to N5.7 Trillion Corporate Bonds issued as part of a landmark Program to secure Nigerian banking industrywide Debt obligations assumed by the Asset Management Corporation of Nigeria (AMCON) to stabilize the Nigerian Banking Industry.
  • Bond Trustee role in over 70% of Nigeria’s sub-national Bonds in the last decade.
  • Bond Trustee to Nigeria’s first Mortgage Securitization by the Federal Mortgage Bank.
  • Bond Trustee services to over 10 State Government Bond Programs of aggregate value of N185Bn
  • Security Trustee to the Lekki Concession Toll Project International Consortium.
  • Trusteeship of several Collective Investment Schemes$300m FGN Diaspora Bond
  • NGN56Bn BGs Assignments by NBET to GenCos.


Our highly experienced team deftly provide comprehensive Wealth Management, Private Trusts and Estate Planning services including living and testamentary trust services to high net-worth individuals (HNIs) in sub-Saharan Africa and the diaspora. We have also partnered with regional and international operators to ensure the most attractive and tax-efficient solutions are availed to our clients.


As Trustees, we act in a capacity of trust on behalf of lenders and investors by ensuring that their interests are accurately represented, and their investments adequately protected in any given transaction. Our duties as Trustees are always executed with care, attention to detail and the best customer service exercised with diligence and discretion.

In debenture trusts, the borrowing entity appoints us as Trustee to hold in Trust, the assets which have been used as security for the capital borrowed.

Consortium lending is usually done by banks to distribute the risks among the group of banks involved in the financing. As trustee, we hold the assets used as security by the borrower, in favour of the lenders. In the unfortunate event that the borrower(s) is unable to repay the loan, as Trustees it is our duty to enforce the security according to the arrangement between the lenders.

A will or a testament is a legal declaration by which the testator, names one or more persons to manage his/her estate and provides instructions for the transfer of his property and assets at death.

A trust is a relationship whereby property (real or personal, tangible or intangible) is held by one party for the benefit of another.
A legal document created by you (the Settlor) during your lifetime. Just like a will, a living trust spells out exactly what your desires are while you are alive, or after your death or inability to act in your own best interest.
A testamentary trust is a trust which arises upon the death of the testator and which is specified in his or her will.
A testamentary trust literally means a trust in a will.
Yes. All you need is to ensure that there is no conflict between the provisions of the two.
If the assets are not mentioned in the Will or there is no Will just like a trust, it will be settled upon the intestacy of the Settlor, which may not be in his/her interests.
No. A living Trust has no business with a probate.
Both instruments have attendant costs, e.g. the cost of taking instructions and drafting a will and trust. Wills are costlier as probate fees are paid as well as the costs of disposing the assets as directed by the Testator. In a living trust, the fee of the Trustee is derived not from the assets of the Trust, but from the proceeds or income of the trust usually under investment.
A living trust is legal, and it supersedes a Will.
No. A claim against a defendant as a Trustee for an account is a claim for equitable relief and is therefore not barred by any limitation period.
The Plaintiff will have no locus to sue except he is a beneficiary of the Trust.
There is no ideal jurisdiction. A lot depends on the nature and the location of the assets to be used in the Trust.

There are four parties involved in a testamentary trust:

  • The Settlor – person who specifies that the trust be created, usually as a part of his or her will, but it may be set up in abeyance during the person’s lifetime.
  • The Trustee – whose duty is to carry out the terms of the Will. He or she may be named in the Will or may be appointed by the probate court handling the Will. A corporate body can also act solely as the trustee or act jointly with other named individuals;
  • The Beneficiary(s) – who will receive the benefits of the Will
  • The Probate Court – although not a party to the trust itself, the Probate Court is a necessary component of the trust. It oversees the trustee’s handling of the trusts.

An Estate is essentially all the property of a settlor, excluding his or her liabilities.