Access Pensions Limited, a subsidiary of Access Holdings(the parent company of one of Nigeria's largest lenders by assets) has announced the acquisition of a majority stake in ARM Pensions Managers Limited. This strategic move marks a significant milestone in Access Holdings’ ongoing growth strategy and underscores its commitment to expanding its footprint in key financial sectors.
Access Holdings through its subsidiary Access Pensions Limited aims to leverage synergies with ARM Pensions Managers to enhance service delivery and drive sustainable value for stakeholders.
Beyond the immediate benefits for clients, the merger creates a groundbreaking shift in the pension industry. The emergence of an alliance between Access Pensions Limited and ARM Pensions Managers Limited introduces healthy competition that is poised to drive innovation, improve services, and raise the overall standards of the industry.
Speaking on the transaction, Group Chief Executive, Access Holdings, Dr. Herbert Wigwe, said, “We are pleased to have reached this transformative milestone in our pension fund administration journey. The proposed combination of ARM Pension with Access Pensions will not only create sustainable stakeholder value but will also contribute positively to the growth and development of the pension industry. We anticipate an exciting future for the combined entity.”
Also commenting on the transaction, Jumoke Ogundare, the group CEO of ARM Holding Company Limited said: “The market in which we operate is ripe for consolidation and I am confident that the proposed combination will create a formidable pension funds administration business leveraging Access Group’s expansive distribution network and innovation culture to deliver sustainable value to stakeholders.”
As major players in the industry, the new entity created by Access Pensions and ARM Pensions union is well-positioned to stimulate economic activities and contribute to the overall prosperity of the nation. Hence, the birth of Access ARM Pensions signals a commitment to excellence, client satisfaction, and the overall prosperity of Nigeria.
