Company Overview

About us

Interstate Securities Limited (ISL) was incorporated in 1985 by the Founder and Pioneer Chairman, Late Chief (Dr.) Samuel Oyewole Asabia and commenced business as a dealing member of the Nigerian Exchange Limited in March 1985. The Company is registered with the Securities & Exchange Commission as a Broker/Dealer and an Issuing House. ISL is also a Trading License Holder of FMDQ.

The Late Chief S.O. Asabia had a distinguished career in the Civil Service ending up as a Permanent Secretary, Ministry of Finance in the defunct Western Region. He was subsequently appointed Deputy Governor, Central Bank of Nigeria in 1970, served as Chairman, Capital Issues Commission (Now Securities& Exchange Commission) from 1970-1975 and Chairman, National Wages Advisory Council and as a member of the Technical Committee on Privatization.

Chief Asabia was appointed the first indigenous Chief Executive of Standard Bank Nigeria Limited in 1975, later to be known as First Bank of Nigeria Plc until 1984 and was for six years President of the Nigerian Exchange Limited. Chief Asabia was the founder and Chairman of Banque Internationale du Benin (BIBE) from 1990 to 1993 and the founder, Chairman and Chief Executive of First Interstate Merchant Bank Limited, from 1987 until his death in 1993.

Following the demise of Chief S.O Asabia, the current Board and Management of the Company have striven to build on his legacy of integrity and industry. In choosing not to deviate from the Founders chosen course, the Company has been able to not only survive a number of very turbulent periods in the development of Nigeria’s financial system, but to record some modest success as well. In November, 2002, the Company was able to move into its own purpose built offices at 14B, Keffi Street, South-West Ikoyi, Lagos.

The Company has taken steps to position itself for the future through a strategic alliance with Custodian investment Plc culminating in their major shareholding in ISL. With a dominant position in the Insurance sector and a very significant presence in the pensions industry, Custodian are a strong and value-adding partner of the Company.

Helping you access opportunity is our commitment.

Mission Statement

To render professional and specialized financial services while adopting the highest possible standards of diligence and integrity.

Our Vision

In the process of successfully attaining our Mission, establish our organization as one to be emulated as a major contributor to the development of Nigeria's financial market in particular and Nigeria's economy in general.