Trustfund Pensions Limited has declared a dividend of 55 kobo per share for the 2024 financial year after recording strong financial growth across key performance indicators. The company made this announcement during its 16th Annual General Meeting (AGM), held on Friday, May 30, 2025, at Fraser Suites in Abuja.
In a statement released to the public, Trustfund said the dividend was approved by shareholders following a review of its performance. The company explained that the decision to pay dividends reflects its commitment to rewarding investors while still keeping enough funds for future growth and expansion.
The Board of Directors of Trustfund Pensions described the dividend as part of the company’s long-term strategy of balancing shareholder returns with sustainable reinvestment. According to the statement, “In recognition of this outstanding performance, the Board of Directors proposed and the shareholders approved a dividend payout of 55 kobo per share. This reaffirms Trustfund’s consistent focus on rewarding its investors while maintaining strategic reinvestment for future growth.”
For the financial year ended December 31, 2024, Trustfund Pensions grew its Assets Under Management (AUM) by 19 percent, moving from N1.03 trillion in 2023 to over N1.23 trillion in 2024. This was achieved despite the tough economic environment that many businesses in Nigeria faced during the period.
The company’s profit before tax rose by 46 percent to N3.8 billion, while profit after tax went up by 48 percent to N2.5 billion. Trustfund also increased its shareholders’ funds by 12 percent to N23 billion, which is far above the N5 billion minimum capital requirement set by the National Pension Commission (PenCom) for pension fund administrators (PFAs) in Nigeria.
The company stated that its financial results show its ability to remain strong and focused, even during challenging times. “Trustfund Pensions Limited has once again demonstrated its resilience and strategic strength with a robust financial performance for the year ended December 31, 2024,” it said.
Managing Director and Chief Executive Officer of Trustfund Pensions, Mr Uche Ihechere, attributed the impressive performance to a mix of good investment decisions, operational discipline, and active leadership by the board. He said, “In all performance indices, we were up by double digits, higher of double digits. 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.”
Mr Ihechere, however, raised concerns about the limited number of high-yield investment options in the Nigerian economy. He pointed out that pension fund administrators like Trustfund rely on investment opportunities created by the government or private sector, and the current pipeline of such opportunities is not expanding fast enough.
“We are not deal creators. We invest in deals,” he said. “And so those who create the deals… the deal pipeline is not expanding. The areas where investment can deliver higher returns are not coming up.”
Ihechere also expressed support for the proposed N758 billion bond by the Federal Government to settle outstanding pension arrears. He described the move as a positive step towards improving the welfare of retirees in Nigeria.
While commending the regulatory role of PenCom, the Trustfund boss said there is a need for the commission to go beyond enforcing compliance and focus more on expanding the pension market. He revealed that fewer than 11 million Nigerians are currently enrolled in the Contributory Pension Scheme (CPS), out of a population of over 230 million people.
He added that more work needs to be done to increase pension enrolment in both the public and private sectors. According to him, if more Nigerians are included in the pension system, it will strengthen retirement security and create more funds for national development.
Trustfund Pensions Limited is one of Nigeria’s leading pension fund administrators and has continued to grow its influence in the industry by focusing on strong governance, innovation, and investor confidence.
