Three months after announcing its proposed acquisition of Nigerian pension fund manager First Guarantee Pension Limited, financial holding company Access has obtained the necessary regulatory approvals that will make First Guarantee Pension its subsidiary.
Nigerian financial services holding Access Holdings Plc has secured the regulatory approvals to complete its proposed acquisition of a majority stake in pension fund manager First Guarantee Pension Limited (FGPL).
The information is reported, last Monday, by several Nigerian media outlets citing an official document from Sunday Ekwochi, secretary general of Access Corporation. Following this development, First Guarantee Pension, which manages pension funds for private and public sector employees, will become a subsidiary of the group headed by Herbert Wigwe.
“This transaction is in line with our vision to create a globally connected community and ecosystem; inspired by Africa for the world […] We will deploy our renowned culture of strong risk management, innovative technology and best practice corporate governance to deliver high standards of management and returns on pension assets to the benefit of our stakeholders,” said Herbert Wigwe according to the document.
