THUR, 19 MAY, 2022-theGBJournal | Access Holdings Plc said today that it has entered into definitive agreement with First Guarantee Pension Limited ‘’regarding potential acquisition of majority equity stake in the company.’’
The Bank said the transaction is a consequential step in the corporation’s evolution from a narrow banking business into a financial service holding company ‘’positioned to gain relevant scale across Africa, global monetary centres, and beyond-banking verticals.’’
Group CEO, Access Corporation, Dr Herbert Wigwe, speaking on the transaction said ‘’this transaction is a natural evolution for the bank.’’
‘’Over the lst 20 years, we set our sights on and delivered ambitious plans to transform the African financial services landscape focusing on banking and have created the African leading bank and largest bank by customer base,’’ he added.
He said this large customer base both on the wholesale and retail segments makes the pension business a natural fit for the Corporation given its objective of ecosystem optimisation.
‘’We will leverage our well-established culture of strong corporate governance, risk Management, cutting-edge technology, and digital capabilities to deliver high standards of professionalism in the management of pension assets to the benefits of our stakeholders.’’
The Bank said the National Pension Commission and the Central Bank of Nigeria have given their ‘’no objection’’ to the transaction, the completion of which is subject to the receipt of all required regulatory approvals.
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