Access Holdings Plc, trading as Access Corporation has announced that it has entered into a definitive with First Guarantee Pension Limited regarding the potential acquisition of majority equity stake in the Company.
The transaction is a consequential step in the Corporations evolution from a narrow banking business into a financial service holding company positioned to gain relevant scale across Africa, global monetary centres and beyond-banking verticals.
Speaking on this landmark transaction, Dr Herbert Wigwe, Group CEO, Access Corporation stated thus:
“This transaction is a natural evolution for us. Over the last 20 years, we set our sights on and delivered ambitious plans to transform the African financial services landscape, focussing on banking and have created the African leading Bank and largest by customer base.
This large customer base both on the wholesale and retail segments makes the pension business a natural fit for the Corporation given its objective of ecosystem optimisation. We will leverage our well-established culture of strong corporate governance, risk management, cutting-edge technology and digital capabilities to deliver high standards of professionalism in the management of pension assets to the benefits of our stakeholders”
The National Pension Commission and the Central Bank of Nigeria has given their no objection to the Transaction.