Premium Pension Limited, a leading Pension Fund Administrator (PFA) in Nigeria, reported substantial growth in its total assets during 2023, reaching an impressive N1.134tn by December 31st.
The company disclosed this information in an official statement released on Thursday.
The 19th Annual General Meeting of the fund took place on Tuesday at its headquarters in Abuja. During the meeting, the Chairman, Retired General Bitrus Kwaji, announced the financial results and acknowledged the challenges faced in the operating environment throughout 2023.
According to the statement, “Total Assets under management experienced significant growth in 2023, reaching N1.134tn by December 31, 2023.”
In his address, Kwaji expressed appreciation for the unwavering commitment and resilience of the staff, who persevered despite challenges such as inflation, exchange rate harmonization, and heightened competition. He stated, “Despite these hurdles, the company remained dedicated to serving clients with integrity and excellence.”
The Chairman highlighted that Premium Pension Limited maintained its position as one of the leading PFAs in Nigeria. He also announced the approval of a final dividend of N1.94 per share, totaling N1.276bn, in addition to the interim dividend of N1.45 per share, which amounted to N952.83m paid during the year. This marks the sixteenth consecutive year of dividend payments, demonstrating the company’s commitment to rewarding shareholders.
During the meeting, the Chairman introduced new additions to the company’s board, including Mr. Garba Makarfi, Dr. Nenadi Usman, Dr. Muhammadu Aliero, Mr. Bappayo Yahaya, Mohammed Abdullahi, SAN, Arc. Sale Yunusa, and Mr. Muhammad Barde. Kwaji expressed optimism about their positive contributions to the company’s future growth.
Kwaji also emphasized the company’s Corporate Social Responsibility initiatives, outlining various impactful projects undertaken by Premium Pension Limited for the benefit of society.
Furthermore, he introduced the Premium Interactive Members Assistant (PRIMA), an innovative platform launched in January 2024. PRIMA utilizes cutting-edge technology to provide personalized assistance and support to members, reflecting the company’s commitment to digital transformation and member satisfaction.
The Chairman expressed gratitude to the company’s members, employees, partners, and regulatory agencies for their support and patronage. He conveyed confidence in Premium Pension Limited’s ability to overcome challenges and reiterated the company’s commitment to innovation, integrity, and member satisfaction.