Paragraph 1: A Year of Transformative Growth for Access ARM Pensions
Access ARM Pensions concluded the 2024 fiscal year with remarkable financial results, demonstrating a significant leap in profitability and asset growth. The company reported a 187% surge in profit after tax, reaching N10.9 billion, while its Assets Under Management (AUM) climbed to an impressive N3.5 trillion. This outstanding performance, achieved amidst prevailing macroeconomic challenges, underscores the successful execution of a meticulously planned post-merger integration strategy, enhanced investment capabilities, and an expanded service network. The merger of Access Pensions and ARM Pensions, finalized in October 2024, laid the foundation for the company’s robust growth trajectory.
Paragraph 2: Strategic Merger Fuels Financial Success
The impressive financial outcomes of 2024 can be largely attributed to the strategic merger between Access Pensions and ARM Pensions. This consolidation resulted in significant operational synergies and improved efficiencies, as reflected in the company’s financial statements. Revenue more than doubled, reaching N28.2 billion compared to N12.3 billion in 2023. Pre-tax profit experienced a substantial increase of 164%, amounting to N15.2 billion, while post-tax profit soared by 187% to reach N10.9 billion. The meticulous planning and execution of the post-merger integration plan, guided by a globally recognized consulting firm, played a crucial role in achieving these remarkable results.
Paragraph 3: Investing in Growth and Customer Service
Access ARM Pensions’ success extends beyond financial gains, encompassing strategic investments in infrastructure and customer service. Recognizing the importance of digital transformation, the company made substantial investments in enhancing its digital capabilities. This commitment to technological advancement allowed for improved service delivery and scalability, ensuring a seamless customer experience. Furthermore, Access ARM Pensions expanded its service footprint by opening new service centers, demonstrating its commitment to accessibility and client satisfaction. The company maintained its workforce from both merging entities, emphasizing its dedication to employee retention and development.
Paragraph 4: Leadership Perspectives on the Transformative Year
Dave Uduanu, the Managing Director/Chief Executive Officer of Access ARM Pensions, attributed the company’s strong 2024 performance to the disciplined execution of the post-merger integration plan, coupled with enhanced investment capabilities and a focus on leveraging technology for improved service delivery. Uduanu emphasized the flawless execution of the plan by both the management team and the board, highlighting the significant efficiencies gained from the merger. He also underscored the company’s commitment to investing in digital infrastructure and expanding its service footprint to better serve its clients. Uduanu expressed confidence in the company’s future growth prospects, projecting even stronger financial performance in 2025.
Paragraph 5: Board’s Vision for Long-Term Value Creation
Gbenga Oyebode, Chairman of Access ARM Pensions, emphasized the strategic significance of the merger and the board’s dedication to long-term value creation. He highlighted the board’s focus on creating a stronger and more resilient institution, not only in terms of scale but also in culture, governance, and sustained value generation. Oyebode underscored the deliberate efforts made to align the merging entities under a shared vision, harmonize risk frameworks, and bolster board and management oversight structures. The board’s strategic approach ensures that Access ARM Pensions remains a leading player in the Nigerian pension fund industry, equipped with a robust governance platform to navigate future challenges.
Paragraph 6: Shareholder Optimism and Future Outlook
Shareholder Aliyu Yar’Adua echoed the positive sentiment surrounding Access ARM Pensions’ future prospects, noting that the 2024 results represent only three months of post-merger operations. Yar’Adua expressed confidence in the company’s ability to deliver even stronger performance in the coming year, anticipating that the full benefits of the merger will be reflected in the 2025 financial results. With AUM already at N3.5 trillion, positioning Access ARM Pensions among the industry leaders, the company is poised for continued growth and success. The successful integration, strategic investments, and strong leadership position the company for a promising future in the Nigerian pension fund market.
