PenCom Approves First Pension Custodian to Acquire Access PFC
Nigeria’s Pension regulatory body, the National Pension Commission (PenCom) has approved First Pension Custodian Limited to acquire Access Pension Custodian Limited.
The management of PenCom in a statement made available to Business Africa Digest disclosed the development on Monday titled ‘Notice of acquisition of Access Pension Custodian Limited by First Pension Custodian Limited’.
The full statement reads: “The National Pension Commission wishes to inform the general public and relevant stakeholders that PenCom has approved the acquisition of Access Pension Custodian Limited by First Pension Custodian Limited.
“The acquisition is the culmination of the divestment process by Access Pension Custodian Limited from the pension custody business, transfer of all assets under its custody to First Pension Custodian Limited and the return of its operating license to PenCom.
“The commission assures stakeholders and the general public of its continued commitment to the effective regulation and supervision of the pension industry.”
