Premium Pension Assets Rise By N210.7bn To N1.3trn

The pension Assets under Management (AUM) of Premium Pension Limited(PPL) rose by N210.7 billion to N1.34 trillion in its2024 financial year.

Speaking at 2024 annual general meeting (AGM) of the Pension Fund Administrator (PFA)’s head office in Abuja recently, its chairman, Maj Gen Bitrus Kwaji, who expressed gratitude to all stakeholders for their unwavering support, said the AUM growth represented an 18.58 per cent year-on-year growth, even as revenue increased by 19.66%, amounting to N13.93 billion, while Profit Before Tax (PBT) rose by 23.14 per cent to N5.635 billion, just as Profit After Tax (PAT) stood at N3.552 billion.

Similarly, he announced that its shareholders will receive a final dividend of N2.20 per share, amounting to N1.446 billion, in addition to the N2.06 per share interim dividend already paid as the Pension Fund Administrator(PFA) registered 818,199 Retirement Savings Accounts (RSAs), accounting for 7.71% of the pension industry’s total.

“This occasion is a testament to our resilience, dedication, and commitment to providing exceptional pension fund administration services to millions of Nigerians. Over the years, we have grown into one of the most trusted PFAs in the industry, prioritizing professionalism, transparency, and superior customer service,” he stated.

Moreover, he noted that, 2024 also saw key leadership transitions to drive the company towards greater achievements as the Executive Management team was restructured, leading to the appointment of Hamisu Bala Idris as the new managing director/CEO in August 2024.

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To him, “Additionally, Maryam L. Mohammed and Dr. Ibrahim B. Boyi joined as executive director of Operations and Services and executive director of Business Development (North) and Strategy, respectively, with these appointments underscore Premium Pension’s commitment to strong leadership and strategic repositioning.”

Looking ahead, its new MD/CEO, Hamisu Bala Idris said, the company remains focused on growth, innovation, and delivering superior value to its stakeholders, in its next phase.