Access Corporation, a leading player in the financial sector, has successfully concluded the acquisition of ARM Pension Managers Limited. The subsequent merger of Access Pensions and ARM Pension will position the emerging business as Nigeria’s second-largest pensions fund manager with combined Assets Under Management (AUM) about N3 trillion and serving over 2 million Retirement Savings Account (RSA) Holders, forming one unified entity under the name Access ARM Pensions Limited.
The merger represents a strategic alignment of strengths, expertise, and resources, allowing the new entity to leverage synergies and create greater efficiencies in operations. By combining the complementary capabilities of both organisations, Access ARM Pensions Limited aims to set new standards for excellence in the pension fund management industry.
Speaking on this great feat, Bolaji Agbede, Group Chief Executive of Access Corporation, highlighted the significance of the merger in aligning with the company’s corporate strategy.
“In line with our vision of creating a globally connected community and ecosystem, we want to start building first from Nigeria and then beyond. That is why we will work closely with our regulators to build this industry for a sustainable future for our community. The acquisition and the subsequent merger of both businesses sets the stage for an exciting future we can all collectively take pride in as a nation. Let us shape the future we desire together,” remarked Bolaji Agbede.
Managing Director of Access Pensions, Mr. Dave Uduanu, emphasized the strength of the newly formed organization with the support of Access Corporation.
“We are embarking on a journey to shape a future that aligns with our vision and benefits both our teams and valued customers. To kick off, Access ARM Pension is strongly capitalized, boasting total shareholders’ funds exceeding N20 billion, which is way above the minimum regulatory requirement.
Over the past 19 years, the legacy companies have thrived through unwavering determination, growing sustainably, and earning the loyalty of our valued customers who till this day, have trusted us with their business.” expressed Uduanu.
He further outlined plans to collaborate with regulators, partners, and the parent company to leverage technology for expanding pension coverage into the vast informal sector through a well-crafted onboarding strategy for micro-pensions.
Wale Odutola, the former Managing Director of ARM Pension Managers Limited, added: “We are thrilled to join forces with Access Pensions to create a stronger, more resilient organisation. Together, we will leverage our combined resources to drive innovation and excellence in pension fund management.”
The completion of this merger underscores the commitment of Access Corporation, the parent company, to driving innovation, growth, and sustainability in Nigeria’s financial sector. By bringing together two reputable institutions, Access ARM Pensions Limited is well-positioned to play a pivotal role in shaping the future of pension fund management in Nigeria.
As Access ARM Pensions Limited embarks on this new chapter, it remains dedicated to serving the needs of its customers, partners, and stakeholders with excellence and integrity. The merged entity looks forward to building on its strong foundation and delivering value-driven solutions that empower individuals to secure their financial future with confidence.
