Leadway secures regulatory approval for PAL Pension acquisition

The National Pension Commission has issued regulatory approval for Leadway Holdings Limited’s acquisition of Pensions Alliance Limited.

This was revealed in a statement shared with The PUNCH on Saturday.

The PUNCH reports that Leadway announced it had reached an agreement to acquire 100 per cent equity interest in PAL Pension, a pension fund administrator. This followed divestment by FSDH Holding Company Limited and Africa Alliance Insurance PLC.

Leadway said the regulatory clearance officially completes the acquisition and that it will commence the process of integrating the operations of Leadway Pensure PFA (Leadway Pensure) and PAL Pensions, subject to regulatory oversight.

Speaking on the development, Group Managing Director of Leadway Holdings Limited, Tunde Hassan-Odukale, described the approval and completion as a defining moment in the company’s history. “The completion of this transaction is a major milestone for Leadway and a significant step forward for the broader pensions industry. We are bringing together two trusted and high-performing brands under one vision, focused on delivering improved value, innovation, and long-term security for our contributors. This move positions us to set new standards for pension administration in Nigeria.

“This acquisition is about building a more robust platform for the future. We see enormous potential in the pension sector, particularly among young Nigerians who are just starting their financial journey. By combining the expertise and resources of Leadway Pensure and PAL Pensions, we are better equipped to meet the needs of our diverse customer base and help them create wealth for tomorrow,” said Hassan-Odukale.

The acquisition, Leadway said, reinforces its long-term commitment to expanding its footprint within the financial services sector.

Leadway is a diversified, non-operating financial services group with market-leading positions across insurance, pensions, asset management, trusteeship, and investment solutions.

Source: https://punchng.com/leadway-secures-regulatory-approval-for-pal-pension-acquisition