Report on Interest

Premium Pension’s asset base jumps to N680b

By News desk

The Managing Director of Premium Pension Limited ,Umar Mairami, has disclosed that the company assets base now stood at N680 billion after 14 years in operations.

Mairami said that the N680 billion was built from a zero balance when the company was established in 2005.

The PP managing director made the disclosure at a ceremony late on Wednesday in Lagos  to unveil a new logo for the company, tagged “Refreshed for Future’’.

According to him, the figure is well above the N1 billion regulatory share capital for pension houses, recommended by the Pension Commission of Nigeria.

He said the company was currently commanding a subscriber base of about 650,000 people, describing the future of the firm as bright.

Presenting the financials of the company, the managing director said the company’s assets under management in 2006 was N300 billion but that the figure had doubled within 13 years of trading.

He said the company decided to refresh for the future to manage the pensions of Nigerian workers more efficiently.

“Our new logo reiterates our outfit’s commitment to excellence, using well trained staff and technology to render unequalled pension administration services,’’ he stated.

The Chairman of the board of the company, Yunusa Yakubu, reiterated the company’s commitment to manage pension assets in the company with utmost caution.

“Our priority is to ensure that our 650,000 clients get access to their pensions at retirement on time and without stress.”

Yakubu said the company would leverage on technology to boost its performance, adding “we are going to move as fast as technology itself’’

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