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2023 Sees Premium Pension Generating N1.134tn in Revenue



In 2023, Premium Pension Limited, a notable Pension Fund Administrator in Nigeria, reported a substantial increase in its total assets, hitting an impressive N1.134tn by the end of December.

An official statement released to PUNCH Online on Thursday disclosed this information.

At the company’s 19th Annual General Meeting held at its office headquarters in Abuja on Tuesday, Gen. Bitrus Kwaji (retd.), the Chairman, unveiled the financial outcomes of the firm while acknowledging the hurdles faced in the challenging operational landscape of 2023.

According to the statement, “The total Assets under management experienced significant growth in 2023, reaching N1.134tn by 31 December 2023.”

In his speech, Kwaji acknowledged the perseverance and steadfast dedication of the staff in the face of numerous challenges, including inflation, exchange rate adjustments, and heightened competition.

“Despite these obstacles, the company remained steadfast in providing service to clients with honesty and excellence,” he remarked.

Revealing the company’s accomplishments, the Chairman noted that Premium Pension Limited sustained its position as one of the leading PFAs in Nigeria.

He also announced the endorsement of a final dividend of N1.94 per share, totaling N1.276bn, alongside the interim dividend of N1.45 per share amounting to N952.83m paid during the year.

This marks the company’s sixteenth consecutive year of distributing dividends, showcasing its commitment to rewarding shareholders.

During the meeting, the Chairman introduced new members to its board, including Mr. Garba Makarfi, Dr. Nenadi Usman, Dr. Muhammadu Aliero, Mr. Bappayo Yahaya, Mohammed Abdullahi, SAN, Arc. Sale Yunusa, and Mr. Muhammad Barde.

The former military general expressed optimism about their positive contributions to the company’s expansion.

Highlighting the company’s Corporate Social Responsibility projects, Kwaji outlined various impactful initiatives undertaken by the company for the benefit of society.

Moreover, he launched the Premium Interactive Members Assistant (PRIMA), an innovative platform introduced in January 2024 to improve customer experience and operational efficiency.

PRIMA leverages advanced technology to provide personalized assistance and support to members, reflecting Premium Pension’s dedication to digital transformation and member contentment.

“In conclusion, the Chairman expressed the Board’s gratitude to its numerous members, employees, partners, and crucially various regulatory agencies with whom the company cooperates for their support, service, oversight, etc.

“He displayed confidence in the company’s ability to surmount challenges and reaffirmed Premium Pension Limited’s commitment to innovation, integrity, and member satisfaction,” the statement concluded.