Premium Pension Limited ranked among leading pension fund administrators in Nigeria, has recorded an 18.34 percent increase in revenue from N8.483 billion in 2021 to N10.039 billion in 2022.
Growth in revenue has resulted in a Profit Before Tax of N3.988 billion, which indicates a 32.99 per cent increase when compared to what was recorded in the previous year, while Profit After Tax stood at N2.654 billion, representing 35.51 per cent above previous year level, according to media reports.
Chairman of the Board of Directors of Premium Pension Limited, Ibrahim Alhassan Babayo, made this disclosure at the 18th Annual General Meeting, held at the company’s corporate head office in Abuja.
Addressing stakeholders at the event, Babayo said the total number of Retirement Savings Account Holders (RSAs) registered in both the public and private sector organisations as of December 31, 2022, stood at 774,235 representing 7.85 per cent of the industry count of 9, 862, 129.
He disclosed that the company paid a total dividends of N2.65 kobo amounting to N1.740 billion, representing N1.20 kobo interim and N1.45 kobo final dividends of N788.14 million and N952.833 million, respectively.
The chairman also informed stakeholders that the dividends represented the 15th consecutive year the company had paid dividends.
“Today, we celebrate a significant milestone of attaining over N1 trillion Assets under Management, a momentous achievement that demonstrates our resilience, innovation and commitment.”