Premium Pension grows assets under management by 18.58%

Premium Pension Limited, a leading Pension Fund Administrator (PFA) in Nigeria, marked a major milestone as it held its 20th Annual General Meeting (AGM) at the One Trillion Suite of its Head Office Complex.

The Chairman of the Board, Maj Gen Bitrus Kwaji, disclosed during the AGM that the company’s Assets under Management (AUM) grew by N210.73bn, reaching N1.344tn, representing an 18.58% year-on-year growth.

A statement by the Head, Corporate Strategy and Communications, Anji Silas Achi, said the event, attended by shareholders, board members, regulatory authorities, and other valued stakeholders, highlighted the company’s remarkable achievements, resilience, and strategic vision for the future.

The chairman expressed gratitude to all stakeholders for their unwavering support.

He said, “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.”

Despite global economic uncertainties, Premium Pension Limited disclosed that in 2024, its revenue increased by 19.66%, amounting to N13.93bn; Profit Before Tax (PBT) rose by 23.14% to N5.635bn, while Profit After Tax (PAT) stood at N3.552bn.

According to the company, shareholders will receive a final dividend of N2.20 per share, amounting to N1.446bn, in addition to the N2.06 per share interim dividend already paid.

In Retirement Savings Accounts (RSAs), the company registered 818,199 RSAs, accounting for 7.71% of the industry total.

The statement said, “2024 also saw key leadership transitions to drive the company towards greater achievements. Following an internal review, the Executive Management team was restructured, leading to the appointment of Mr. Hamisu Bala Idris as the new Managing Director/CEO in August 2024. Additionally, Mrs. 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. These appointments underscore Premium Pension’s commitment to strong leadership and strategic repositioning.”