First Pension Custodian to Acquire Access Pension Fund

First Pension Custodian to Acquire Access Pension Fund

First Pension Custodian has initiated a move to acquire 100% interest in a rival company, Access Pension Fund, according to FBN Holdings Plc in a statement filed with the regulator.

Consideration for the acquisition of the Access Pension Fund customer, a subsidiary of Access Bank Plc by First Pension Custodian, a subsidiary of First Bank of Nigeria Limited was not disclosed.

Access Bank holds 100% interest in the custodian’s arm, according to the statement submitted to the Nigerian Exchange.

The statement revealed that the acquisition deal has received no objection to the transaction by the Central bank of Nigeria and the National Pension Commission.

FBNH said the group will update the market and the investing public appropriately and in accordance with disclosure obligations. # First Pension Custodian to Acquire Access Pension Fund