The Board of Premium Pension Limited has announced changes in its corporate structure with the appointment of Ibrahim Alhassan Babayo as new Chairman effective April 26, 2020. This followed the retirement of Yunusa Yakubu, the erstwhile chairman of the board who held the position since 2017.
Other Board changes announced also include the appointment of two Non-Executive Directors, namely – Bitrus Vandos ThemoiKwaji, a retired Major General and Muhammad Musa Makarfi.
In his remarks on the new appointment, Umar Sanda Mairami, the chief executive officer of the Company said, “the appointment of Babayo as Chairman is in line with the strategic vision of Premium Pension Limited to become the foremost Pension Fund Administrator (PFA) in the Country. This is even more so when the Company is implementing its 5-year Strategic Business Objective that aims to drive business growth and transformation.” The appointment will also deepen the already sound corporate governance culture of the company.
Babayo, a graduate of Kaduna Polytechnic and Yaba College of Technology in Estate Management and a member of the Nigerian Institute of Surveyors and Valuers (NIESV) as well as International Facility Management Association (IFMA), is the founder and Chief Executive Officer of Cosmopolitan Cleaners Limited, an environmental management and sustainability company. He is on the Board of Golden Construction Limited, RDS Insurance Brokers Limited and Nonsuch Health Maintenance Organization, AMML Microfinance Bank, and a Trustee of TAJ Bank Foundation, amongst others. His imprints, which started with a career in banking, traversed many sectors of the Nigerian economy including estate management, road and building construction, banking, environmental, health and facilities management.
Babayo is an alumnus of several World leading institutions, including Harvard Business School, Wharton Executive Education, University of Pennsylvania, London Business School, and National University of Singapore. During his previous service on the Board, he had chaired the Board Information Technology Steering Committee, the Committee which laid down the foundation for information technology transformation of the Company.
Until his appointment as Chairman, Board of Directors, he chaired the Board Finance and General Purpose Committee that had oversight over the development of the Company’s Strategic Plan and is responsible for periodic review as well as monitoring the implementation of the Plan. He had also served in many Committees of the Board including Nominations, Audit and erstwhile Establishment Committees.
General Kwaji (Rtd.) an accountant by profession, is an alumnus of Ahmadu Bello University, Zaria and Strayer University Washington DC, USA, among others. Until his retirement from the Nigerian Army in 2014, General Kwaji, was the Group Managing Director, Nigerian Army Welfare Ltd/Gte, a non-profit organization, registered by the Nigerian Army under the Companies and Allied Matters Act, 1990. Muhammad Musa Makarfi, an Alumnus of Bayero University Kano with over thirty years’ post-graduation experience, had a successful career in banking, spanning nearly two decades.
Premium Pension Limited is a licensed Pension Fund Administrator, which started operations in the year 2005, with current Assets under Management (AuM) well in excess of N700 Billion.