By Rosemary Iwunze

Group Chief Executive of Access Corporation, Bolaji Agbede, has said that the merger of Access Pensions and ARM Pensions will position the emerging business as Nigeria’s second-largest pensions fund manager with combined Assets Under Management (AUM) of about N3 trillion and serving over two million Retirement Savings Account (RSA) Holders.

The entity which will be named Access ARM Pensions Limited, 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 organizations, Access ARM Pensions Limited aims to set new standards for excellence in the pension fund management industry.

Agbede said: “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.”

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”.

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.

Mr. Wale Odutola, the former Managing Director of ARM Pension Managers Limited, added: “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.