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The National Pension Commission (PenCom) has granted regulatory approval for Leadway Holdings Limited’s acquisition of Pensions Alliance Limited (PAL Pensions), marking the formal completion of the transaction.
The development, disclosed in a statement, follows Leadway’s earlier announcement of its agreement to acquire 100 per cent equity in PAL Pensions after the divestment by FSDH Holding Company Limited and Africa Alliance Insurance Plc.
With regulatory clearance now obtained, Leadway confirmed that it will begin the process of integrating the operations of Leadway Pensure PFA and PAL Pensions, subject to continued regulatory review and compliance requirements.
Commenting on the acquisition, Group Managing Director of Leadway Holdings Limited, Tunde Hassan-Odukale, described the approval as a landmark moment for the organisation and the pension industry.
“The completion of this transaction is a major milestone for Leadway and a significant step forward for the broader pensions industry,” he said. “We are bringing together two trusted and high-performing brands under one vision—focused on delivering improved value, innovation, and long-term security for contributors. This positions us to set new standards for pension administration in Nigeria.
“This acquisition is about building a stronger platform for the future. We see substantial potential in the pension sector, especially among young Nigerians beginning their financial journey. By combining the expertise and resources of Leadway Pensure and PAL Pensions, we are better positioned to meet the evolving needs of our diverse customer base and support them in building long-term wealth.”
Leadway noted that the acquisition further underscores its commitment to deepening its footprint within the financial services ecosystem. The group is a diversified, non-operating financial services conglomerate with strong market positions across insurance, pensions, asset management, trusteeship, and investment solutions.
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