• About
  • Advertise
  • Contact
Friday, August 22, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home National

PenCom approves merger, acquisition of PFAs

Vital News by Vital News
March 3, 2022
in National
0
Share on FacebookShare on Twitter

Abuja – The National Pension Commission (PenCom) has approved the request for merger and acquisition of some operators in the pension industry.

PenCom said this on Wednesday in Abuja 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.

RelatedStories

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation

Presidency Confirms Appointment Of Rotimi Pedro As New DG Of NTA, Three Executive Directors

Nigeria’s Consul General In Cameroun, Taofiq Coker Is Dead

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 approval is coming three months to the expiration of the April 20 deadline given to Pension Fund Administrators to beef up their operating capital from the current level of N1bn to N5bn.

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.

The development was the second time the regulator is raising the capital base of PFAs since the inception of the Contributory Pension Scheme in 2004.

In 2011, PenCom had raised the operating capital of PFAs from N150m to N1bn.

In the present regime, the commission is demanding for a N5bn minimum capital.

Currently, there are 22 licensed pension Fund Administrators operating in Nigeria.

These are AIICO Pension Managers Limited, APT Pension Fund Managers Limited, ARM Pension Managers Limited, Crusader Sterling Pensions Limited, FCMB Pensions Limited, Fidelity Pension Managers, First Guarantee Pension Limited, IEI-Anchor Pension Managers Limited, Investment One Pension Managers Limited, and Leadway Pensure PFA Limited.

There is also the Nigerian University Pension Management Company, NLPC Pension Fund Administrators Limited, NPF Pensions Limited, OAK Pensions Limited, Pensions Alliance Limited, Premium Pension Limited, Radix Pension Managers Limited, Sigma Pensions Limited, Stanbic IBTC Pension Managers Limited, Tangerine Pensions Limited, Trustfund Pensions Limited and Veritas Glanvills Pensions Limited. (vitalnews)

Tags: acquisitioncapitalmergerPENCOMPFAs
Previous Post

Nigeria’s total collapse imminent – Jega

Next Post

NNPC, Dangote, Shell others sign gas supply deal

Vital News

Vital News

RelatedStories

President Tinubu Jets Out On State Visit To Saint Lucia, Brazil
National

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

August 21, 2025
FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation
Education

FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation

August 20, 2025
Tinubu Appoints Rotimi Pedro, Founder Of OSMI As New DG Of NTA
National

Presidency Confirms Appointment Of Rotimi Pedro As New DG Of NTA, Three Executive Directors

August 20, 2025
Nigeria’s Consul General In Cameroun, Taofiq Coker Is Dead
National

Nigeria’s Consul General In Cameroun, Taofiq Coker Is Dead

August 20, 2025
National Security : Nigeria Records Breakthrough, Captures Two Most Wanted Terrorist Leaders
National

US Commends Nigeria Over Arrest Of Two Leaders Of Ansaru Armed Group

August 18, 2025
Next Post

NNPC, Dangote, Shell others sign gas supply deal

NEPC moves to stem Nigeria's dwindling fortunes in cashew farming, processing

Pension fund assets hits N13 . 61 trillion

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

ISWAP Claims Responsibility For Bloody Attack On Kogi Church

3 years ago
APC Slams Opposition Parties Over Calls For Election Cancellation

Guber Primary : Crisis Engulfs Kogi APC As Audu/Faleke Group Rejects Delegates List

2 years ago

UN Applauds Nigerian Women’s Drive For Economic Development

3 years ago
Buhari Departs Abuja For US-Africa Leaders Summit In Washington

FG Rakes In $547mln From 5G Auction – Buhari

3 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

KB Klub Holds Largest Blood Donation Drive, Raises 500pints Of Blood In Lagos

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

Abia Secures $750mln World Bank Support For Renewable Energy

Woman Mistaken For Kidnapper Killed By Irate Mob In Ilorin

FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation

EFCC Arrests Deputy Vice Chancellor, Bank MD, Two Catholic Sisters Over N1.2bln Loan Fraud

Trending

FAAC Disburses N1.678trn February Revenue To FG, States, LGs
Economy

FAAC Shares N2.001 July 2025 Revenue To FG, States, LGs

by Vital News
August 22, 2025
0

The Federation Account Allocation Committee (FAAC) N2.001 trillion, July 2025 revenue to the Federal Government, States and...

Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba,  N1.07bln Salary Arrears

Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba, N1.07bln Salary Arrears

August 22, 2025
First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing

First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing

August 22, 2025
KB Klub Holds Largest Blood Donation Drive, Raises 500pints Of Blood In Lagos

KB Klub Holds Largest Blood Donation Drive, Raises 500pints Of Blood In Lagos

August 22, 2025
President Tinubu Jets Out On State Visit To Saint Lucia, Brazil

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

August 21, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • FAAC Shares N2.001 July 2025 Revenue To FG, States, LGs August 22, 2025
  • Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba, N1.07bln Salary Arrears August 22, 2025
  • First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing August 22, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In