Access Pension Merges With ARM Pensions
ACCESS Holdings Plc has announced a major development in its ongoing growth strategy.
Access Golf Nigeria Limited, a majority shareholder of Access Pensions Limited which is a subsidiary of Access Holdings, has received the ‘no-objection’ of the National Pension Commission and the approval of the Federal Competition and Consumer Protection Commission for its proposed acquisition of a majority equity stake in ARM Pensions Managers Limited (‘ARM’).
Subject to the receipt of relevant regulatory approvals, it is intended that following the acquisition, the operations of ARM and Access Pensions will be merged to create Nigeria’s second largest Pension Fund Administrator (PFA) by Assets Under Management.
Commenting on this transaction, Herbert Wigwe, the group chief executive, Access Holdings, said: “We are pleased to have reached this transformative milestone in our pension fund administration journey.
“The proposed combination of ARM Pension with Access Pensions will not only create sustainable stakeholder value but will also contribute positively to the growth and development of the pension industry.”
Eighteen-Eleven Media
