Veritas Glanvills Pensions Limited (VG Pensions), a licensed Pension Fund Administrator in Nigeria, has crossed a serious milestone in its monetary efficiency. The Company surpassed ₦1 billion in revenue earlier than tax (PBT) for the primary time since its inception. The milestone was disclosed on the Company’s nineteenth Annual General Meeting (AGM), held on Thursday, 29 October 2026 in Lagos, Nigeria.
At the assembly, shareholders acquired the Company’s Annual Report and Audited Financial Statements for the monetary yr ended 31 December 2025, which mirrored sturdy monetary progress, improved profitability and a strengthened monetary place.
The Company’s revenue earlier than tax elevated by 34.75%, from ₦760.39 million in 2024 to ₦1.02 billion in 2025, whereas revenue after tax (PAT) rose by 34.9% to ₦695.20 million. Gross income additionally grew by 23.95%, from ₦2.89 billion in 2024 to ₦3.58 billion in 2025, reflecting progress in property beneath administration, improved funding efficiency and sustained enterprise growth initiatives.
Commenting on the efficiency, Alhaji Farouk Lawal Yola, Chairman of the Board of Directors, described the achievement as a big milestone within the Company’s progress trajectory.
“The 2025 financial year marked a defining moment in the growth of Veritas Glanvills Pensions Limited. Surpassing the ₦1 billion profit before tax milestone for the first time reflects the resilience of our business model, the disciplined execution of our strategic priorities and the collective commitment of our Board, Management and staff. This achievement reinforces our confidence in the Company’s long-term growth prospects and our commitment to sound corporate governance, prudent financial management and sustainable value creation for our shareholders and other stakeholders,” he stated.
The audited monetary statements additionally recorded progress throughout different key monetary indicators. Fees and fee revenue, the Company’s major income driver elevated by 27.99% to ₦2.75 billion, whereas shareholders’ funds grew by 4.54%, from ₦6.50 billion in 2024 to ₦6.79 billion in 2025.
These outcomes underscore the Company’s concentrate on operational effectivity, prudent monetary administration and strategic execution in a dynamic enterprise surroundings. The strengthened monetary place additionally gives a basis for continued funding in know-how, human capital, buyer expertise and enterprise enlargement.
Speaking on the Company’s outlook, Godson Ukpevo, OON, Managing Director/Chief Executive Officer, reaffirmed Management’s dedication to sustaining progress, bettering service supply and responding successfully to the evolving wants of consumers and the Nigerian pension business.
He defined that the Company’s strategic priorities embrace deepening buyer engagement by way of extra personalised service, accelerating digital transformation, increasing market presence by way of enterprise growth and strategic partnerships, strengthening enterprise threat administration and stronger info safety, all geared toward bettering organisational effectiveness and reinforcing the Company’s aggressive place.
According to the Managing Director/CEO, these initiatives will help the Company’s long-term progress ambitions, enhance buyer comfort and strengthen its capability to ship worth to contributors and retirees.
VG Pensions additionally acknowledged the vital position of the National Pension Commission (PenCom) in strengthening the Nigerian pension business by way of efficient regulation, coverage reforms and initiatives geared toward increasing pension protection, selling confidence within the pension system and bettering service supply.
As the Company builds on its 2025 monetary efficiency, it stays targeted on sustainable enterprise progress, stronger buyer relationships, operational excellence and the supply of outstanding pension administration providers that help contributors in securing their monetary futures.
