Access Holdings Plc (NGX: ACCESSCORP) says that its flagship subsidiary Access Bank Plc has completed pension custody business, after receiving all necessary approvals.
Access Bank Plc has divested its entire equity interest in Access Pension Fund Custodian Limited to First Pension Custodian Nigeria Limited, a subsidiary of First Bank of Nigeria Limited, according to a filing on the Nigerian Exchange.
“Sequel to its announcement on May 18, 2022, Access Holdings Plc trading as Access Corporation is pleased to inform the Nigerian Exchange Limited and the investing public that its subsidiary, Access Bank Plc has completed the divestment of its entire equity interest in Access Pension Fund Custodian Limited to First Pension Custodian Nigeria Limited (‘the Transaction’), a subsidiary of First Bank of Nigeria Limited,” the document read in part.
Recall that Access Holdings Plc on Monday said it has received full regulatory approval for its acquisition of majority equity stake in First Guarantee Pension Limited (FGPL).
First Guarantee Pension Limited as a subsidiary of ACCESSCORP, and is expected to provide a strong springboard for the Corporation’s execution of its ecosystem strategy for the pension funds administration industry.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.