• The capital of the new company exceeds N10 billion
Following the completion of Access Corporation’s acquisition of Sigma Pensions and First Guarantee Pensions, the two companies were merged, merged and rebranded as Access Pensions.
Access Pensions is a subsidiary of Access Corporation and the merger will make the company the fourth largest pension fund manager in Nigeria.
It is capitalized at twice the regulatory requirement of over N10 billion, with over N900 billion in assets under management (AUM) and over 1 million Retirement Savings Accounts (RSA).
Dr. Herbert Wigwe, Group Chief Executive of Access Corporation, said in Access Pensions’ announcement at its upcoming headquarters in Abuja that the merger will provide an all-inclusive financial system for the company. He said it was in line with corporate strategy. its huge customer base.
Wigwe, represented by Amaechi Okobi, Chief Brand and Communications Officer of Access Corporation, said: community. It promotes long-term savings for sustainable investments and serves as a retirement savings account for over 60 million customers, as well as stabilizing and growing the economy.
“In line with our vision of creating globally connected communities and ecosystems inspired by Africa for the world, we want to start building first in Nigeria and then beyond. That is why we will work closely with regulators to build this industry for a sustainable future for our communities.Together we will shape the future we want.”
Dave Uduanu, Managing Director of Access Pensions, said the merger of First Guarantee Pension and Sigma Pensions has turned Access Pensions into one big formidable organization, backed by Access Corporation’s powerful parent company.
“I am delighted to announce that these two great entities have merged to become one of the formidable pension fund administrators to watch in the pension industry. Welcome to all of us as we step into this new and exciting chapter of the emergence of access pensions.
“Together we win now and shape the future we want for ourselves and our customers. Well capitalized with money, the legacy company has been in business for 17 years and has worked for years with sheer grit and determination and that is how we grow the company and serve our customers. I have been loved,” he said.
His firm works with regulators, partners and parents to leverage technology to extend pension coverage to the huge informal sector using well-crafted onboarding strategies for micropensions. It added that it plans to expand.
“We believe this reflects the next frontier of growth for the pension industry, which has tremendous potential to drive financial inclusion. We see the potential to reach new annuity customers.”