Norrenberger Pensions Restricted has reported one other 12 months of sturdy operational efficiency regardless of Nigeria’s difficult macroeconomic surroundings, rising its Retirement Financial savings Account (RSA) shopper base to 164,619 and posting a 31 per cent improve in whole earnings, which rose to ₦2.51 billion within the 2024 monetary 12 months.
In his remarks on the firm’s thirteenth Annual Normal Assembly (AGM), the chairman of the Board, Ibrahim Aliyu Bala, stated the worldwide economic system in 2024 was characterised by inflationary pressures, tight financial circumstances and geopolitical tensions, whereas Nigeria continued to regulate to the gasoline subsidy elimination and trade price reforms that started in 2023.
Nonetheless, regardless of the powerful working surroundings, the corporate sustained development by closing the 12 months with 18.54% development in its Property Underneath Administration (AUM).
Wanting forward, he stated Norrenberger Pensions would leverage its lately rebranded Private Pension Plan (PPP) to develop protection within the casual sector, whereas sustaining development by way of innovation, operational effectivity and disciplined danger administration.
He reiterated the corporate’s dedication to constructing a extra inclusive pension ecosystem.
The vhairman thanked shareholders, regulators and shoppers for his or her assist and praised the corporate’s employees for his or her “ardour and resilience’’, noting that their collective effort continuef to strengthen the corporate’s long-term development.
Additionally talking on the occasion, the Managing Director/CEO, Bolanle Onotu, acknowledged that the 2024 monetary 12 months examined resilience, stressing that regardless of inflationary pressures, foreign money volatility and rising working prices, the corporate delivered measurable development anchored on sturdy governance construction and detailed technique implementation.
She added that whole working bills grew at a slower tempo of 6 per cent, rising from ₦1.67 billion to ₦1.77 billion, following deliberate cost-optimization measures.
This supported a major rise in profitability, with Revenue Earlier than Tax (PBT) growing by 209 per cent to ₦741 million, up from ₦240 million recorded in 2023.
Mrs. Onotu famous that even amid macroeconomic headwinds, the corporate elevated its funding in expertise and capacity-building to reinforce customer support supply and enhance employees welfare.
These included the deployment of a contemporary 3CX name heart, upgrades in cybersecurity methods, enhancements to the corporate’s cell app, and inside automation initiatives geared toward enhancing shopper expertise, improved reporting and regulatory compliance.
She recommended the regulatory reforms initiated by the brand new Director Normal of PenCom, who assumed workplace in July 2024 and famous that the reforms are strengthening business stability and operational readability.
Mrs Onotu stated 2025 presents new alternatives, particularly with the rebranded PPP focused at increasing pension adoption within the casual and semi-formal sectors.
She appreciated the Board, administration, regulators, and shoppers for his or her assist, including that Norrenberger Pensions is well-positioned to maintain development and contribute meaningfully to Nigeria’s evolving pension ecosystem.
The Norrenberger Monetary Group Managing Director/CEO, Tony Edeh, in his remarks, expressed appreciation to the organisation’s regulators and auditors, noting that their constant collaboration and oversight have been vital to the corporate’s continued progress.
He acknowledged them as ”supportive companions whose steerage has strengthened our governance construction and enabled us to enhance the standard of our operations.”
Edeh additional recommended his colleagues throughout the organisation, recognising their dedication and professionalism.
