Access Corporation yesterday announced it has completed the acquisition of a majority equity stake in First Guarantee Pension Limited (FGPL), following regulatory approvals by the National Pension Commission (PenCom), and Central Bank of Nigeria (CBN).
Company Secretary, Access Corporation, Sunday Ekwochi, said in a statement that “Following this development, FGPL is now a subsidiary of the corporation and will provide a strong springboard for the corporation’s execution of its ecosystem strategy for the pension funds administration industry.”
Speaking on the development, Group Chief Executive Officer (GCEO), Access Corporation, Herbert Wigwe, was quoted as saying the acquisition emphasized the company’s global best practices.
“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,” he said.
FGPL, a pension fund administrator (PFA), was formerly held by First Pension Custodian, a wholly owned subsidiary of First Bank Holdings, which acquired Access Pension Fund Custodian Limited from Access Corporation.
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.
