Trustfund Pensions Limited has approved a dividend payout of 55 kobo per share for the 2024 financial year, following a period of robust financial performance and operational growth. The declaration was made during the company’s 16th Annual General Meeting (AGM) held on May 30, 2025, at Fraser Suites, Abuja.
In a statement, the company highlighted that the dividend aligns with its strategy of balancing shareholder returns with sustainable reinvestment to drive long-term expansion. Shareholders endorsed the payout, commending Trustfund’s consistent value delivery and strong financial management. The move underscores the firm’s commitment to rewarding investors while maintaining a growth-focused approach in Nigeria’s competitive pension industry.
“In recognition of this outstanding performance, the Board of Directors proposed and the shareholders approved a dividend payout of 55 kobo per share,” the company said. “This reaffirms Trustfund’s consistent focus on rewarding its investors while maintaining strategic reinvestment for future growth.”
Strong Growth in Key Metrics
For the year ended December 31, 2024, Trustfund reported significant growth across all major performance indicators. Its Assets Under Management (AUM) increased by 19% year-on-year, rising from ₦1.03 trillion in 2023 to over ₦1.23 trillion, despite economic headwinds.
Profit before tax jumped by 46% to ₦3.8 billion, while profit after tax rose by 48% to ₦2.5 billion. Shareholders' funds also rose by 12% to ₦23 billion, maintaining a solid capital base well above the ₦5 billion minimum required by regulators for pension fund administrators.
Trustfund described the performance as a reflection of its “resilience and strategic strength,” crediting its capital adequacy, skilled workforce, and ongoing investment efforts as the drivers of sustained growth.
CEO: We Are Not Asleep at the Wheel
Managing Director and CEO Uche Ihechere attributed the firm’s financial success to disciplined investment strategy, operational efficiency, and an active board of directors.
“In all performance indices, we were up by higher double digits,” Ihechere said. “This is not a result of a PFA that is sleeping on its duties. This is a product of management that is alive to its responsibilities.”
However, the Trustfund boss also flagged structural challenges in the investment landscape, noting that pension funds currently face a narrow pipeline of viable investment opportunities capable of delivering inflation-beating returns.
“We are not deal creators. We invest in deals,” he remarked, calling for an expansion of infrastructure-backed instruments and stronger legal frameworks to unlock new investment classes.
Expanding Coverage Still a Challenge
While celebrating the year’s accomplishments, Ihechere highlighted a persistent gap in pension coverage, disclosing that fewer than 11 million Nigerians are currently enrolled in the pension scheme — a figure that remains low given Nigeria’s population of over 230 million.
He urged the National Pension Commission (PenCom) to move beyond regulatory enforcement and take a more proactive role in expanding the pension market, particularly in the informal and private sectors.
Ihechere also expressed support for the Federal Government’s proposed ₦758 billion bond aimed at clearing outstanding pension arrears, describing it as a “clear indication of renewed commitment to retirees’ welfare.”
Outlook
With a strong capital position, a committed leadership, and a growing asset base, Trustfund Pensions says it is well-positioned to lead the next phase of transformation in Nigeria’s pension industry. The firm remains focused on innovation, prudent investment, and expanding pension access across the country.