Connectnigeria Articles

Following its listing on the eleventh day of last month, Africa Prudential Registrars Plc (APR) has become the first and only registrar in the country to be listed on the Nigerian Stock Exchange. Formerly known as UBA Registrars, the newly listed entity, which has an authorized and fully paid share capital of N500 million, delivered over 100 per cent increase in profit before tax in 2012 and looks set to continue the trend in 2013. Africa Prudential Registrars has several local and international investors, the most prominent of which is Heirs Holdings, the pan-African investment company with long term, strategic interests in key economic sectors that generate social wealth. Being the only registrar listed on the stock exchange gives APR a level of accountability and openness that far exceeds its competitors’. According to Mr. Peter O. Ashade, the company CEO, the process of listing a company is a rigorous one which he believes is the reason why APR stands apart. “Not every company can withstand the scrutiny required by the listing process. It requires visible accounting, proper systems and ongoing processes to meet the standards,” he says. “For our clients it gives them further reassurance that their confidence in us is not misplaced.” APR board chairman, Mrs. Eniola Fadayomi said, “We are assured by the young, dynamic management at the helm of the company. Through a combination of their dedication and experience, we have seen a history of significant positive impact on our performance, which we believe will continue into the foreseeable future.” APR boasts a number of other firsts. It is rated as Nigeria’s number one corporate registrar for innovative use of technology to improve its services. The company was the first in the share registration niche to deploy an e-stock software application. In 2008, it pioneered an online e-share registration service which proved a major turning point for the business and ensured a higher level of convenience for clients. The simple innovation shifted the paradigm of manual share register administration and brought it to the fingertips of shareholders and clients. Its consistent use of innovation to drive the business has resulted in APR enjoying consistent growth of its shareholders fund from N1.6bn in 2010 to N2.3bn in 2012, and a 35.4 per cent Compound Annual Growth Rate.