PenCom approves takeover of Access Pension Custodian Limited by First Pension Custodian Limited

By allcitynews.ng

In fresh attempt to create more vibrant pension industry, the pension regulatory agency, National Pension Commission (PenCom) has approved the takeover of Access Pension Custodian Limited by First Pension Custodian Limited.

The statement made available to allcitynews.ng, PenCom management, said “PenCom wished to inform the general public and relevant Stakeholders that PenCom has approved the acquisition of Access Pension Custodian Limited by First Pension Custodian Limited.

“The acquisition is the culmination of the divestment process by Access Pension
Custodian Limited from the pension custody business, transfer of all assets
under its custody to First Pension Custodian Limited and the return of its
operating license to PenCom.”

Moreover, the Commission assured stakeholders and the general public of its continued commitment to the effective regulation and supervision of the pension industry.