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    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

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    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

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    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

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    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Trump bans citizens of 12 countries from entering the U.S, full list

    France launches mandatory online visa appointments for travelers

    France launches mandatory online visa appointments for travelers

    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

    • Nigeria
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    • All
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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

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    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Sovereign Trust Insurance Plc grows Profit after tax by 43%  in Q1 2021

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    Legend Internet Plc reports N32.9 million profit for Q1 2025

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    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

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Access Holdings Plc receives approval to acquire First Guarantee Pension Limited

Monday, 29 August 2022, 8:40 pm
in Business, Companies
0
Approval given for acquisition of International Energy Insurance Plc
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Access Holdings Plc (NGX:  ACCESSCORP) has received full regulatory approval for its acquisition of majority equity stake in First Guarantee Pension Limited (FGPL). The Banking corporation announced the receipt of the approval via a corporate action it released to the Nigerian Exchange Limited.

Read also; TAJBank gets approval to start N100bn Sukuk Bond issuance

Following this development, First Guarantee Pension Limited is now 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.

Speaking on this development, Dr. Herbert Wigwe, Group Chief Executive Officer, Access Corporation said:

“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.”

ACCESSCORP had on 19 May, 2022 announced that it had entered into a definitive agreement with First Guarantee Pension Limited, regarding the acquisition of majority equity stake in the company.

A day earlier on 18th May, 2022, Access Holdings Plc announced a plan by Access Bank, its banking subsidiary to divest from its pension custody subsidiary. According to a statement released at the time, Access Bank Plc, had entered into a definitive agreement with First Pension Custodian Nigeria Limited, a subsidiary of First Bank of Nigeria Plc.

First Guarantee Pension Limited (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. Our final operating license as a Pension Fund Administrator (PFA) was granted 13 January 2006.

With an authorized share capital of NGN1.00 billion, and a paid up capital of N922.00 million, FGPL is owned by Nigerian shareholders comprising of individuals and corporate bodies.

First Pension Custodian, a holly owned subsidiary of First Bank of Nigeria Plc acts as the technical partner to FGPL, and is the pension fund custodian for FGPL’s Retirement Savings Account (RSA) accounts.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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