Norrenberger Pensions nets big gains in 2024
Norrenberger Pensions Limited reported a 31 percent increase in total income for the 2024 financial year, reaching 2.51 billion naira. The company’s Retirement Savings Account client base also grew to 164,619 members. Despite a challenging economic environment, the firm expanded its Assets Under Management by 18.54 percent.
Managing Director and CEO Mrs. Bolanle Onotu attributed these results to strategic cost management, which limited operating expense growth to just 6 percent. This efficiency contributed to a significant 209 percent surge in Profit Before Tax, which rose to 741 million naira. She also highlighted ongoing technological upgrades and staff training initiatives.
Board Chairman Ibrahim Aliyu Bala acknowledged the difficult macroeconomic climate but expressed confidence in the company’s trajectory. He identified the rebranded Personal Pension Plan as a key future growth driver, particularly for penetrating the informal sector. The leadership expressed gratitude to shareholders, regulators, and staff for their roles in the company’s sustained performance.
