BY VICTORIA ONU, ABUJA
The National Pension Commission has approved the request for merger and acquisition of some operators in the pension industry.
PenCom said this on Wednesday through its twitter handle.
The Commission, according to the post, approved the acquisition of Investment One Pension Managers Limited by Guaranty Trust Holding Company Limited. It also approved the subsequent change of name from Investment One Pension Managers Limited to Guaranty Trust Pension Managers Limited.
Also approved is the acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited; and the merger between Tangerine Pensions Limited and APT Pension Funds Managers Limited.
According to the tweet, Pencom also approved the subsequent change of name of the merged entity to Tangerine APT Pensions Limited.
The post reads, “This is to inform all stakeholders and the general public that the National Pension Commission (PenCom) has approved the following Mergers and Acquisitions;
“The Acquisition of Investment One Pension Managers Limited by Guaranty Trust Holding Company Limited and subsequent change of name from Investment One Pension Managers Limited to Guaranty Trust Pension Managers Limited.
“The Acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited; and the Merger between Tangerine Pensions Limited and APT Pension Funds Managers Limited and subsequent change of name of the merged entity to Tangerine APT Pensions Limited.”
The National Pension Commission had in May last year, directed PFAs to raise their shareholders’ fund, from N1bn to N5bn giving them 12-month transition period.
