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First Bank rounds off acquisition of Access Pension Fund Custodian Limited

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Corporate titans battle for control of First Bank of Nigeria

Adebayo Obajemu

 

First Bank of Nigeria Holdings Plc has notified the Nigerian Exchange and the investing public that First Pension Custodian Nigeria Limited, a subsidiary of First Bank of Nigeria Limited has completed the acquisition of 100% of the share capital of Access Pension Fund Custodian Limited from Access Bank Plc, having obtained the requisite regulatory approvals.

The transaction has the ‘no objection’ of the Central Bank of Nigeria as well as the approvals of the National Pension Commission and the Federal Competition and Consumer Protection Commission.

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The transaction is in line with First Pension’s growth strategy and advances its mission to be the ‘custodian of first choice’, and leading pension custodian in the sub- Saharan Africa.

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