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Tag: Premium Pension

  • Premium Pension records N1.34tr assets

    Premium Pension records N1.34tr assets

    • Celebrates 20 years

    Premium Pension Limited has recorded a growth in its Assets under Management (AUM) by N210.73 billion, reaching N1.344 trillion, a 18.58 per cent yearly growth.

    The company announced this at its 20th Annual General Meeting (AGM) in Abuja.

    The PFA also posted revenue growth with an increase of 19.66 per cent, amounting to N13.93 billion.

    Profit Before Tax (PBT) also rose by 23.14 per cent to N5.635 billion, while Profit After Tax (PAT) stood at N3.552 billion.

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    The company declared a dividend with shareholders receiving a final dividend of N2.20 per share, amounting to N1.446 billion, in addition to the N2.06 per share interim dividend already paid.

    Also, the company registered 818,199 Retirement Savings Accounts (RSAs), accounting for 7.71 per cent of the industry total.

    Its Chairman, Maj.-Gen Bitrus Kwaji (rtd), said the occasion was a testament to their resilience, dedication, and commitment to providing pension fund services to millions.

     “Over the years, we have grown into one of the most trusted PFAs in the industry, prioritizing professionalism, transparency, and superior customer service,’’ he said.

    He stated that despite global economic uncertainties, Premium Pension recorded impressive growth.

    Kaji added: “Last year 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.

    “These appointments underscore Premium Pension’s commitment to strong leadership and strategic repositioning.

    “Looking ahead, as we embark on the next phase, the company remains focused on growth, innovation, and delivering superior value to its stakeholders.’’

  • Premium Pension gets new ED

    Premium Pension gets new ED

    Premium Pension Limited has announced the appointment of Dr. Ibrahim Barhama Boyi as the Executive Director, Business Development, North and Strategy.

    In a statement, the company’s Head, Corporate Strategy and Communications, Anji Silas Achi, stated that Boyi, whose appointment took effect from January 27, brings with him a wealth of experience spanning over two decades across the telecoms, financial, and housing/mortgage sectors.

    The company stated: “Dr. Boyi began his professional career in the telecommunications sector with Sagem S.A in 2002 before joining MTN Nigeria Communications Limited in 2003, where he contributed significantly to the Financial Operations Department

    . In 2006, he transitioned into the financial sector with Premium Pension Limited, serving as the Unit Head of Compliance. His expertise in investment analysis led him to the National Pension Commission in 2007, where he worked in the Risk Management Department.

    “Further diversifying his experience, Dr. Boyi moved to the Federal Mortgage Bank of Nigeria (FMBN), where he held various strategic positions, including Personal Assistant to the Managing Director/CEO and also work with the Special Assistant to MD/CEO on Investment and Portfolio, Head of the Training (Employee Development and Learning Management), Head of Insurance and a Credit Analyst in Loans Production Department. His broad knowledge and strategic insight have been instrumental in shaping policies and driving investment growth within the financial sector.

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    “Dr. Boyi holds a Bachelor of Science degree in Business Administration from the University of Abuja, a Master of Business Administration (MBA) from Bayero University, Kano (BUK), and a Doctorate in Business Administration (DBA) in Housing Finance from Nottingham Trent University, U.K., which he obtained in 2020. Additionally, He is a Fellow of the Institute of Mortgage Brokers and Lenders, an Associate of the Institute of Capital Market Registrars, an Associate Member of the Institute of Cost Management Accountants, a Member of the Institute of Credit Administration, and a Member of the Institute of Project Managers. His academic background, combined with his extensive industry experience, positions him as a valuable asset to Premium Pension Limited.

    “As he assumes his new role, Boyi is expected to lead strategic initiatives that will enhance business development in the Northern region while strengthening the company’s overall strategic direction. Premium Pension Limited is confident that his leadership will contribute to the continued growth and success of the organisation,”the statement read.

  • Premium Pension gets new chairman, directors

    Premium Pension gets new chairman, directors

    The Board of Directors of Premium Pension Limited has appointed General Bitrus Kwaji (rtd) as its new Chairman.

    He replaced Mr. Ibrahim Alhassan Babayo, who retired.

    In a statement, the Head, Corporate Communications, Premium Pension, Aliyu Mohammed Ali, said Senator Nenadi Esther Usman, DCG Garba Bala Makarfi (rtd) and Dr. Mansur Aleiro have also joined the Board as Non-Executive Directors.

    It said Gen. Kwaji (rtd), an Army chief and chartered accountant, is an alumnus of Ahmadu Bello University, Zaria and Strayer University Washington DC, Unitd States, among others.

     Gen. Kwaji occupied sensitive positions during his 30 years’ sojourn in the Nigerian Army before he retired in 2014. They included the Group Managing Director, Nigerian Army Welfare Limitedd/Gte.

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     Others were Deputy Defence Attaché Finance, Washington DC, General Manager (Investments), Nigerian Army Welfare Scheme, Director of Finance, Defence Intelligence Agency; Commandant, Nigerian Army School of Finance and Administration as well as Chairman, Military Pensions Board.

    “Until his appointment as Chairman, Gen. Kwaji (rtd) chaired the Board Audit Committee as well as Finance and General Purposes Committee that had oversight over the development of the company’s Strategic Plan and periodic review and monitoring of its the implementation,’’ Ali added

    Dr. Usman is an accomplished leader and public personality.

    She holds a doctorate in Geography from the Ahmadu Bello University, Zaria and a Master’s in Strategy and Security Management.

    She is an expert in administration and taxation.

    Makarfi holds a Diploma in Library Science and a Bachelor of Science (BSc) degree in Library and Information Science from Ahmadu Bello University, Zaria.  Makarfi’s career is marked by notable achievements that have enhanced his expertise and leadership.

    Aliero is a consummate academic and an entrepreneur.

    He attended Usman Danfodio University Sokoto. He completed his Msc degrees and  PhD and 2018 and 2012 at University Putra, Malaysia.

  • Premium Pension promises more service delivery

    The Board of Directors of Premium Pension Limited has  held its 59th meeting in Lagos, promising to provide more effective management  of pension.

    Its Chief Executive Officer, Mr. Umar Sanda Mairami, in a statement said the meeting, which is first of its kind outside the corporate head office of the company in Abuja, was held at its Lagos Island regional office in Ikoyi.

    He said the meeting, attended by all members of the board and executive management of the company led by the Chairman Yunusa Yakubu, was geared towards satisfying its numerous customers countrywide.

    He said: “Premium Pension Limited is a licensed Pension Fund Administrator company, which started operations in 2005, with current assets under management (AUM) in excess of N570 billion.

    “We are bringing relationship closer to our clients and providing environment for them to experience our premium services.

    “There is no gainsaying the fact that the business of pension fund administration is delicate and tasking especially with regard to the required technical input.

    “But our capacity and level of preparedness and alertness is not in question. The office of the new Executive Director, Business Development South and Strategy Mrs. Kemi Oluwashina, is also located within the precinct of the Lagos Island regional office.”

     

  • Premium Pension appoints new directors

    The Board of Premium Pension Limited has appointed Mr. Kabir Ahmed Tijjani as an Executive Director, and Mr. Lamido Yuguda as Non-Executive Director.

    In a release in Lagos, an official at the firm’s Corporate Communications , Aliyu Ali,  said the appointments are expected to enhance robust business development by the company.

    Mr. Tijjani has been with Premium Pension Limited since its inception in 2005 as a management staff. As a seasoned corporate lawyer, he served the company first as Secretary and head of Legal Services department. He played a pivotal role in developing various structures and policies that guide the conduct and affairs of the Board and management.

    Until his latest appointment,  Tijjani served as the company’s pioneer Chief Marketing Officer (CMO), where he was saddled with the responsibility of facilitating the business development functions, customer base growth and branch offices supervision.

    Prior to joining the company, Mr. Tijjani had a stint with the Federal Inland Revenue Service (FIRS) as an Inspector of Taxes. He later joined the defunct Nigerian Telecommunications Limited (NITEL) as a Senior Legal Officer, where he rose to the position of zonal Legal Adviser and Head of Legal department at the central headquarters of the company.

    Mr. Tijjani is an alumnus of Lagos Business School (LBS), Howard University Washington DC, National University of Singapore and Ahmadu Bello University, Zaria. He attended several professional courses, seminars and workshops on corporate legal practice, telecommunications, pension matters, information communication technology and finance within and outside Nigeria.

    Mr. Tijjani is a certified IT Manager in the United States, member of the Nigerian Bar Association (NBA) as well as Chartered Institute of Personnel Management of Nigeria (CIPM).

    Similarly, Mr. Yuguda brings to the Board more than three decades of experience as a central banker, economist and investment manager. He began his career with the CBN as a Senior Supervisor, Foreign Operations in 1984 with responsibility for maintaining Nigeria’s external debt records. He reached the pinnacle of his career at the CBN as Director, Reserve Management, where he inculcated a strong risk-aware investment culture and engendered a disciplined approach to investment evaluation. He retired voluntarily in 2016.

    Mr. Yuguda graduated with a BSc. Accounting from Ahmadu Bello University, Zaria in 1983 and obtained M.Sc in Money, Banking & Finance in 1991 from the University of Birmingham, United Kingdom. He also holds a certificate in Financial Asset Management and Engineering from the Swiss Finance Institute, Geneva, Switzerland.

    He is a distinguished Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and CFA Charter holder.

  • Premium Pension gets new MD

    Premium Pension Limited has appointed  Umar Mairami as the new Managing Director.

    In a statement by an official of the Corporate Communication Department and signed by Aliyu Ali, the company said Mairami succeeds Wilson Ideva who formally retired from the company.

    The statement read: “Mairami is a seasoned banker of repute, a distinguished member of the Chartered Institute of Bankers of Nigeria (CIBN). He began his career with the then Habib Nigeria Bank Limited as a Trainee Officer of the Yola branch of the bank. As a professional, Mairami joined the then Intercity Bank Plc in 1999 where he served as an Executive Assistant to the Managing Director. He acquired experience having traversed and headed major strategic core banking groups which comprised Corporate Planning; Corporate Promotions; Credit Administration; Training and other aspects of banking covering Credit Management, Relationship and Branch Management as well as Branch Coordination at the bank’s Head Office.

    “He also served as Deputy General Manager, Group Head Corporate Services covering, Human Resources, Administration, Financial Control and Information Technology departments.

    As a result of the banking reforms of 2004 which ensued fusing of Intercity Bank with eight other banks to form Unity Bank, Mairami was appointed as the bank’s pioneer head of Human Capital Management department. He was also head of Asset Management Committee and subsequently resigned as Head of Operations of the bank’’.

    During his maiden briefing to the members of staff at his assumption of office, Mairami said, during his tenure, the company will be more customer centric in alignment with the vision and mission of the company.

    “We will stay close to our customers and do everything possible to serve them properly, our Customers will be at the beginning, the middle and end of our strategy”.  The new CEO further reiterated the commitment of the management to pay particular attention to capacity development to ensure that PPL staff remain professional.

    “Until his current appointment, he was an Executive Director Business Development and Investment with Legacy Pension Managers Limited.  In the course of his illustrious banking career spanning over two 20 years, he attended several local and international training programs and Business schools across the globe. He was a member of the Education Committee of the Chartered Institute of Bankers of Nigeria as well as Director of Northlink Insurance Brokers Limited.

     

     

  • Premium Pension holds officers’ forum

    Premium Pension Limited has held Pension Desk Officers Forum to identify challenges that may face its over 700,000 Retirement Savings Accounts (RSAs) holders and proffer solutions, Executive Director and Acting Managing Director of the company, Kabir Ahmed Tijani has said.

    He made this known at the forum, which held last week. It was organised by the Federal Capital Territory (FCT) region of the company.

    According to him, the forum enabled the company to touch base with the pension desk officers of various organisations and collectively evaluate the workings of the Contributory Pension Scheme (CPS), essentially to enhance operational effectiveness.

    He explained that it is also a routine industry requirement that provides opportunity for stakeholders to keep abreast of current trends in the industry.

    He said: “There are still challenges in the CPS 13 years after inception, especially in the area of public awareness of the law and the workings of the scheme. The regulatory bodies, National Pension Commission, (PenCom) and National Association of Pension Operators of Nigeria, (PenOp) have been doing a lot in the area of public awareness of the immense advantages and desirability of the scheme.”

    The forum provided a platform to appreciate the tremendous success Premium Pension has witnessed since coming on stream in 2005. Presentations were made on Electronic Pension Contribution Collection System (EPCCOS), withdrawal from voluntary contribution and enhanced programmed withdrawal and also the soon-to-be-introduced Multi-fund Structure.

  • Premium Pension rounds off compliance, ethics week  

    Premium Pension Limited has marked the 2017 Compliance and Ethics Week in line with the global practice, Executive Director  Kabir Tijjani has said.The event  took place between November 6 and 10.

    Tijjani in a statement in Lagos said the Compliance and Ethics Week was celebrated with the theme: Make the Right Choices.

    According to him, the company is keying into the global yearly event for the second time running in appreciation of its invaluable significance.

    ‘’As a leading operator in the industry, all hands must be on deck to support the culture of compliance which will not only distinguish us among our peers but also reflect on our profitability” he said.

    While flagging off the event, he noted that the company, one of the leading Pension Fund Administrator has grown to a level where ethical principles are becoming part of our culture and the sustenance of this great value is a function of the extent to which each and every staff of the company can embrace the attitude of doing things the right way and making the right choices at all times.

    He further stated that it is through demonstrable professionalism, high ethical standards and adherence to global best practice that the company has witnessed tremendous growth and won several local and international awards.

    He said: “The choices we make in life have a significant impact on the results or outcomes we get. Making a right choice today will result in having a fulfilled future tomorrow.

    The company’s Chief Compliance Officer, Funmi Femi-Obalemo, added that compliance is a culture which infers the willingness to do things right, based on the requirements of the law.

  • Premium Pension boss kicks against payment of 75% lump sum to retirees

    Premium Pension boss kicks against payment of 75% lump sum to retirees

    Allowing retirees to withdraw 75 per cent of their pension contributions under the Contributory Pension Scheme (CPS) is wrong, Chief Marketing Officer, Premium Pension Limited, Kabir Tijani, has said.

    Tijani made this known at a briefing on the proposed bill on lump sum payment of up to 75 per cent to retirees against the 50 per cent being paid now before the National Assembly.

    Tijani said if the bill was allowed to sail through, a major objective of the CPS would be defeated.

    He noted that a lot of people could not manage money. He said when such retire and take huge amount, they might squander it and later become liabilities to others, adding that the scheme had been designed to avoid such scenarios.

    ‘’This is why it is arranged that when you retire, you take a lump sum payment to adjust your life and the rest is spread as monthly pension.

    “We have  seen what is happening in the Senate in the news. The proposal by the distinguished senator that the percentage of the lump sum withdrawal should be increased to 75 per cent.

    “Our response to that is we are not going to support it as a Pension Fund Administrator (PFA) because we know that one of the objectives for having the scheme is to ensure that when people retire after they might have exhausted their adulthood in service. They should retire home and have something to live on until they pass on.

    “Under the new scheme, a retiree has the option to take lump sum. It is something that is provided under the law as an entitlement for the retiree. The law says you can take between 25 per cent and 50 per cent of the balance of your RSA as lump sum payment and the rest will then be spread as programmed withdrawal or annuity plan.

    “However, an employer is free to provide an additional benefit to its employees at retirement,’’  Tijani said.

  • Premium Pension’s assets hit N487b

    Premium Pension’s assets hit N487b

    Pension assets of Premium Pension Limited hit over N487 billion as at June, its Managing Director, Wilson Ideva, has said.

    He made this known to reporters in Lagos.

    Ideva, who was represented by the Southwest Regional Manager, Fatai Olufeso, said the company’s Retirement Savings Account (RSA) unit price stands at 3.4562 while retiree unit price was at 2.5735 in the period under review.

    Similarly, he said benefits paid to retirees were N128 billion while number of retirees grew to 70,374.

    He noted that the company  remains workers’ and retirees’ delight and has improved its services in the year.

    He explained that retirees included those who retired, those who lost their jobs, those who died in the service or after retirement and those who were retired because of illness.

    Ideva said: “The effectiveness and benefits of the Contributory Pension Scheme (CPS) has not recorded any case of fraud. This is because of the structures put in place and based on this, there can be no case of fraud. Once there is an effective structure in place, the structure will drive the system effectively.

    “The CPS will go a long way in eradicating corruption and poverty in the system. With this, retirees will see the benefits of the CPS in their lives and others will be forced to embrace the system. We believe that with the support of the media for the industry, the pension industry and the workers will be better in the future.’’