Access Bank which is reported to be the largest lender by assets is seen to be in its final stage of approval over the 2billion ARM pension and the Nigeria stock exchange, (the second largest independent funds in the federal capital territory of Nigeria).
If this is successfully approved, Access Bank HoldCo has it plans in line to execute the integrate ARM pension, positioning its existing pension business, positioning itself as a dominant player in the $34.9 billion pension market, potentially challenging Stanbic IBTC for the top spot. Access HoldCo, originally a Pension custodian, bought.
It is also reported that two regulators are strongly in the process of executing the deal and as well sourcing out pensionable stabilities and protections.
It is noted that without a share of melodrama, the publication reports deal has been said to have been completed by the evening hours on wednesday.
While on this said event, social media has also spread its speculations on regards to the acquisition, and this puts Access HoldCo, a publicly listed company, at risk of hefty fines from regulators, one bank executive claimed.
from the source, Faith Omoniyi elaborated that the largest lenders by assets, has set Access HoldCo into overdrive, with the company’s board holding two separate meetings on Thursday, one person in those meetings told TechCabal. ARM also held a company-wide meeting on Thursday to inform about the potential acquisition, one person in that meeting said while declining to share specifics.
She also proceeded in her report, giving us a breakdown on the historical review of ARM Pensions. It stated that as of 2005 the founder of ARM Pensions offers a comprehensive range of pension products and services to both individuals and corporate clients. Its strong brand reputation and expertise in investment management have made it a trusted partner for millions of Nigerians saving for their retirement.
From the News Source: TechCabal.
