PenCom Approves Acquisition Of Access Pension By First Pension Custodian

The National Pension Commission (PenCom) has approved the acquisition of Access Pension Custodian Limited by First Pension Custodian Limited.

Mr Abdulqadir Dahiru, Head of PenCom’s Corporate Communications, said this  in a statement on Monday in Abuja.

He said that the acquisition was the culmination of the divestment process by access pension custodian limited from the pension custody business, transfer of all assets under its custody to the new owners.

Also, First Pension Custodian Limited would return its operating license to PenCom.

Dahiru said that the commission assured all stakeholders and the public of its continued commitment to the effective regulation and supervision of the pension industry. (NAN)  

GWG had earlier reported that Access Corporation had acquired a majority equity stake in First Guarantee Pension Ltd (FGPL) and with it, repositioned the financial giant in its bid to play higher in the pension sub-sector of the economy.

Access Corporation stated this in a corporate filing with the Nigerian Exchange Ltd. penultimate Monday signed by its Company Secretary, Mr Sunday Ekwochi.

Ekwochi said the corporation had received a full regulatory approval of its acquisition of majority equity stake in FGPL in the financial re-engineering exercise.

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