Premium Pension Limited, a Pension Fund Administrator in Nigeria, has said its total assets recorded significant growth in 2023, reaching N1.134tn by 31 December, 2023.
The development was as contained in a statement following the fund’s 19th Annual General Meeting convened on Tuesday at its office headquarters in Abuja where the Chairman, Gen. Bitrus Kwaji (retd.) announced its financial result while acknowledging the challenges faced in the operating environment in 2023.
The statement partly read, “Total Assets under management experienced significant growth in 2023, reaching N1.134tn by 31, December 2023.”
In his address, Kwaji recognised the resilience and unwavering commitment of the staff amid various challenges, including inflation, exchange rate harmonization, and heightened competition.
“Despite these 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 has 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 N1.276bn, in addition to the interim dividend of N1.45 per share totaling N952.83m paid during the year.
This marks the sixteenth consecutive year of dividend payments by the company, demonstrating its commitment to rewarding shareholders.
During the meeting, the Chairman announced new additions to its board in the persons of Mr. Garba Makarfi, Dr. Nenadi Usman, Dr. Muhammadu Aliero, Mr. Bappayo Yahaya, Mohammed Abdullahi, SAN, Arc. Sale Yunusa, and Mr. Muhammad Barde.
The ex-military general expressed anticipation for their positive contributions to the company’s growth.
Emphasizing the company’s Corporate Social Responsibility initiatives, Kwaji outlined various impactful projects undertaken by the company to benefit society.
Furthermore, he introduced Premium Interactive Members Assistant, an innovative platform launched in January 2024 to enhance 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.
“In closing, the Chairman extended the Board’s gratitude to its teeming members, employees, partners and importantly various regulatory agencies the company interfaces for their patronage, service, supervision, etc.
“He expressed confidence in the company’s ability to overcome challenges and reiterated Premium Pension Limited’s commitment to innovation, integrity, and member satisfaction,” the statement added.
