MON, 29 AUG, 2022-theGBJournal| Access Holdings Plc (Access Corporation) today announced that it has received full approval from regulators on its acquisition deal with First Guarantee Pension Limited (FGPL). The deal involves acquisition of majority stake in FGPL.
FGPL is a Pension Fund Administrator (PFA) incorporated on 5 August 2004 under the Pension Reform Act, 2014 and licensed by the National Pension Commission (PENCOM) to manage and invest pensions on behalf of public and private sector employees. Its final operating license as a Pension Fund Administrator (PFA) was granted 13 January 2006.
Following the approval FGP; becomes a subsidiary of Access Corporation. The Corporation says the acquisition will provide a strong springboard for its execution of its ecosystem strategy for the pension funds administration industry.
‘’This transaction is in line with our vision to create a globally connected community and ecosystem, inspired by Africa for the world,’’ says Group Chief Executive officer, Access Corporation, Dr Herbert Wigwe.
Wigwe added: ‘’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 benefits of our stakeholders.’’
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