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.
EAC Trustees Limited
PUBLIC AND CORPORATE BOND
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.
WEALTH MANAGEMENT AND PRIVATE TRUST
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.
DEBENTURE AND CONSORTIUM LENDING
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 testamentary trust literally means a trust in a will.
- Lack of testamentary capacity.
- Undue Influence.
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.