• Saturday, July 20, 2024
businessday logo


Premium Pension AUM rises to N1.134trn

Premium Pension strengthens board with four new directors

Premium Pension Limited, one of Nigeria’s leading Pension Fund Administrator (PFA) has grown its Assets Under Management (AUM) to N1.134 trillion at the end of 2023 financial year from N1.000 trillion in 2022, indicating 22.43 percent.

This is as the PFA also grow its retirement savings Account (RSA) holders to 793,605, representing 7.79 percent of the total industry count of 10,191,400 as at the end of December 2023.

Read also: Premium Pension pays 14 contributors for residential mortgage

Speaking at 19th Annual General Meeting of Premium Pensions Limited held at its Corporate Head office in Abuja, Bitrus Kwaji, chairman of the board recognized the resilience and unwavering commitment of the staff amid various challenges in the economy including inflation, exchange rate harmonization, and heightened competition.

He said despite these hurdles, the company remained dedicated to serving clients with integrity and excellence.

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 totalling N952.83 million paid during the year, marking 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 Garba Bala Makarfi, Nenadi Esther Usman, Muhammadu Mansur Aliero, Bappayo Yahaya, H. E. Mohammed Abdullahi Abubakar, Sale Muhammad Yunusa, and Muhammad Jibrin Barde. The Chairman expressed anticipation for their positive contributions to the company’s growth.

Emphasizing the company’s Corporate Social Responsibility (CSR) initiatives, the chairman outlined various impactful projects undertaken by Premium Pension Limited to benefit society.

He also introduced Premium Interactive Members Assistant (PRIMA), an innovative platform launched in January 2024 to enhance customer experience and streamline operations.

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