First Pension Announces Completion Of Access Pension Acquisition

The completion of the acquisition of 100% of the share capital of the Access Pension Fund Custodian Limited by First Pension Custodian Nigeria Limited has been announced by FBN Holdings Plc a subsidiary of First Bank Nigeria Limited. 

The Group, in a statement signed by Adewale Arogundade, the company secretary said: “FBNH is pleased to inform Nigerian Exchange Limited and the investment public that First Pension Custodian Nigeria Limited, subsidiary of FBNH’s flagship subsidiary, First Bank of Nigeria Limited has completed the acquisition of 100% of the share capital of Access Pension Fund Custodian Limited from Access Bank Plc, having obtained the requisite regulatory approvals.”

“The transaction has the ‘no objection’ of the Central Bank of Nigeria as well as the approvals of the National Pension Commission and the Federal Competition and Consumer Protection Commission.

“The transaction is in line with First Pension’s strategy and advances; its mission is to be the custodian of the first choice, and leading pension custodian in sub-Saharan Africa,” the Group noted.

Recently, the National Pension Commission also announced the acquisition of Access Pension Custodian Limited by First Pension Custodian Limited, which stated: “The National Pension Commission (PenCom) wishes to inform the general public and relevant Stakeholders that PenCom has approved the acquisition of Access Pension Custodian Limited by First Pension Custodian Limited.