BANK ASSET CUSTODIAN - Lagos Mainland

The role of a custodian in such a case would be to:

• Hold in safekeeping assets/securities such as stocks, bonds, commodities such as precious metals and currency (cash), domestic and foreign

• arrange settlement of any purchases and sales and deliveries in/out of such securities and currency

• Collect information on and income from such assets (dividends in the case of stocks/equities and coupons (interest payments) in the case of bonds) and administer related tax withholding documents and foreign tax reclamation

• Administer voluntary and involuntary corporate actions on securities held such as stock dividends, stock splits, business combinations (mergers), tender offers, bond calls, etc.

• Provide information on the securities and their issuers such as annual general meetings and related proxies

• Maintain currency/cash bank accounts, effect deposits and withdrawals and manage other cash transactions

• Perform foreign exchange transactions

• Often perform additional services for particular clients such as mutual funds; examples include fund accounting, administration, legal, compliance and tax support services