Rating Release 

Agusto & Co. hereby upgrades Lotus Capital Limited’s (“Lotus Capital”, “LCL”, or “the Company”) ratings to “A-” (long term) and “A1” (short term), with a stable outlook 

The rating expires on 30 June 2026 

Agusto & Co. hereby upgrades Lotus Capital Limited’s (“Lotus Capital”, “LCL”, or “the Company”) ratings to “A-” (long term) and “A1” (short term). The upgrades reflect the increased traction in the non-interest finance space in Nigeria, which has supported the Company’s improved liquidity profile and enhanced asset quality, with sizeable equity holdings and minimal non-performing advances. The ratings are also underpinned by Lotus Capital’s strong brand in the non-interest finance segment, good capitalisation metrics, low leverage, and experienced management team. However, the ratings remain constrained by the significant concentration in ownership structure. We have also considered the potential impact of the Nigeria’s new Capital Gains Tax (CGT) laws on investment activities and industry-wide asset management flow.

LCL is licenced by the Securities and Exchange Commission (SEC) as fund/portfolio manager providing Sharia-compliant asset management, private wealth management and structured investment solutions to retail clients, high-net-worth individuals (HNIs), and institutional investors, in adherence to Islamic finance principles.