Trustfund Pensions retirees fund grows above N26bn

Da-Souza, who made the disclosure in Abuja at the 2014 annual general meeting of the company, assured customers of a robust and efficient process that will guarantee them a stress free retirement, pointing out that the company is declaring 25k dividend for 2014.  On her part, the board chairman of the company Mrs Ngozi Olejeme […]

Da-Souza, who made the disclosure in Abuja at the 2014 annual general meeting of the company, assured customers of a robust and efficient process that will guarantee them a stress free retirement, pointing out that the company is declaring 25k dividend for 2014. 
On her part, the board chairman of the company Mrs Ngozi Olejeme said instability in the capital market and non-payment of salaries are factors that impacted negatively on the performances of Pension Funds Administrators (PFAs) in the country.
Represented by a director in the company Mr Peter Esele, Olejeme said “if one looks at the fact that Trustfund management declared the same 25Kobo dividend in 2013 and 2014, one may not appreciate how the difficulty in the environment in 2014 was.
“We should not forget that the preparation for the 2015 general elections was at all-time high in 2014, the crash in the price of crude oil in the international market also happened in the same year and non-payment of salaries even at the federal level also took place during that year.
“There was also the devaluation of the Naira and we also witnessed the instability of the stock market where we invested about 30% of our money. Overall, we have about 70% of our resources invested in one form of money market or the other. Coupled with all of these, were all the negative forecasts about the outcome of the general elections. All of these were formidable factors that impacted negatively on the performances of businesses,” she said.
She added that “for us, to be able to march what was declared in 2013 is a great achievement. We are also very happy that the shareholders showed massive understanding during the trying period. We are hopeful that with an improving operating environment this year, our shareholders will smile more next year.”