BusinessHighlight

Premium Pension Ltd., industry leader, records impressive N1.134trn revenue growth in 2023

Premium Pension Ltd

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A leading pension fund administrator in Nigeria, Premium Pension Limited, has said it recorded substantial asset growth in 2023, with N1.134 trillion in total assets as of December 31, 2023.

The disclosure is contained in a statement by the company in Abuja and made available to Persecondnews on Thursday.

The Fund’s Chairman, retired Gen. Bitrus Kwaji, announced the organization’s financial results while acknowledging the challenges facing the operating environment in 2023.

He spoke at the Fund’s 19th Annual General Meeting on Tuesday, held at its headquarters in Abuja.

Kwaji acknowledged the resilience and unwavering commitment of the staff to the operations of the company amid various challenges, including inflation, exchange rate harmonization, and heightened competition.

“Total assets under management experienced significant growth in 2023, reaching N1.134tn by December 31, 2023.

“Despite hurdles, the company remained dedicated to serving clients with integrity and excellence,” he said.

Highlighting the company’s performance, the chairman revealed 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, amounting to N1.276 billion, in addition to the interim dividend of N1.45 per share totaling N952.83 million paid during the year.

Umar Mairami, MD, Premium Pensions

According to the chairman, this marks the sixteenth consecutive year of dividend payments by the company, demonstrating its commitment to rewarding shareholders.

During the meeting, he announced new members to its board: Mr. Garba Makarfi, Dr. Nenadi Usman, Dr. Muhammadu Aliero, Mr. Bappayo Yahaya, Mohammed Abdullahi (SAN), Arc. Sale Yunusa, and Mr. Muhammad Barde.

The retired general expressed appreciation for their positive contributions to the company’s growth.

Kwaji also introduced the innovative Premium Interactive Members Assistant (PRIMA), a platform launched in January 2024, to improve the customer experience and streamline operations.

‘‘PRIMA leverages cutting-edge technology to provide personalized assistance and support to members, reflecting Premium Pension’s commitment to digital transformation and member satisfaction,’’ he added.

The Chairman extended the Board’s gratitude to its teaming members, employees, partners, and, most importantly, the various regulatory agencies with whom the company interfaces for their patronage, service, supervision, and others.

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