Breaking News
Veritas Glanvills Pensions Celebrates Strong Growth Trajectory At its 17th Annual General Meeting
Members of the Board of Directors physically present at the 17th Annual General Meeting of Veritas Glanvills Pensions Limited: Executive Director, Mr. Peter Anija Okoye (left); Executive Director, Mr. Abiodun Shode; Vice Chairman, Mr. Peter Aletor; Company Secretary/Legal Adviser, Mrs. Olufemi Onoru; Chairman, Alhaji Farouk Lawal Yola; Managing Director / CEO, Godson Ukpevo; Non-Executive Director, Dr. Babatunde Onadeko; Non-Executive Director, Dr. Olasupo Falana; and Non-Executive Director, Mr. Nahim Abe Ibraheem.
Veritas Glanvills Pensions (VG Pensions) Limited, one of the leading licensed Pension Fund Administrators in Nigeria, on Thursday, October 17, 2024, held its 17th Annual General Meeting (AGM) at its corporate head office on Plot 1698 C & D Oyin Jolayemi Street, Victoria Island, Lagos.
The hybrid meeting, presided over by the Chairman, Alhaji Farouk Lawal Yola, was attended by representatives of its corporate shareholders, the National Pension Commission (PenCom), and the Company’s External Auditors.
In presenting the Company’s Annual Report and Accounts for 2023 to the shareholders, the Chairman remarked that VG Pensions has demonstrated resilience in the face of the severe challenges in the macroeconomic environment and continued its upward trajectory in its performance. While announcing the company’s 2023 financial results, he stated that VG Pensions Gross Earnings increased by 21.20% to N2.425 billion in 2023 from N2.001 billion recorded in 2022. He added the Company declared a profit before tax of N714.294 million, up by 25.30% from the prior year’s performance.
He expressed his delight with the company’s performance which was achieved despite the challenging economic conditions that prevailed during the financial year. According to him, “Our ability to navigate the complexities of 2023 is a testament to the robustness of our leadership and the steadfast commitment of our team.”
Also speaking on the results, the Managing Director/Chief Executive Officer, Mr. Godson Ukpevo threw some light on how the Company was able to navigate the turbulent economic environment. He stated that the performance would not have been possible without the invaluable guidance and support provided by the Company’s shareholders and Board of Directors. He also celebrated the dedication of the staff, whose passion for their jobs significantly contributed to the successes recorded.
The Chairman expressed optimism about the Nigerian economy for the upcoming year, anticipating that the new administration will prioritize fiscal and monetary policies to stimulate economic growth. Additionally, he noted that the commencement of local petroleum refining capacities is expected to reduce import bills and ease pressure on the Naira.
The Chairman affirmed that VG Pensions has established a solid foundation for sustainable growth and is fully committed to maintaining the current trajectory. “We will continue to promote a performance-driven culture with strong corporate governance and leverage technology to improve our operational efficiency while focusing on emerging opportunities”
