Access Arm Pensions Ltd, the newly birthed PFA as a result of the merger between Access Pensions and ARM Pension Managers LTd says it is positioned to become a leading Pension Fund Administrator (PFA) in Nigeria.
This is just as the PFA announced that it is Nigeria’s second-largest pensions fund manager with combined Assets Under Management (AUM) of about N3 trillion and over 2 million Retirement Savings Account (RSA) holders.
Managing Director/Chief Executive Officer, Access Arm Pensions, Dave Uduanu, and the acting Chairman, Austin Opara made the disclosure at the unveiling of the new company on Thursday in Abuja.
Uduanu stated that the merger represents a strategic alignment of strengths, expertise, and resources, allowing the new entity to leverage synergies and create greater efficiencies in operations.
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While further emphasising the strength of the newly formed organization with the successful acquisition of ARM Pension Managers by Access Corporation, he noted that the journey will shape a future that aligns with a common vision and benefits for both their teams and valued customers.
“This is the biggest merger in the pension industry. Access and ARM were number two and four in the industry. Coming together to create a PFA with N3 trillion of Asset Under Management (AUM) with 15 per cent of industry total asset and more than 20 per cent of customer base. It is an opportunity to create a brand that we can all be proud of
“To kick off, Access ARM Pension is strongly capitalised, boasting total shareholders’ funds exceeding N20 billion, which is way above the minimum regulatory requirement and we are dedicated to making it a strong and successful entity”.
In the same vein, the acting Chairman, Access ARM Pensions Limited, Mr. Austin Opara, reaffirmed the board’s commitment to the new brand, adding “We are dedicated to making it a strong and successful entity”.
He assured customers of reliability, growth, and commitment to service, adding, “For those who are not yet satisfied, we will work to earn your trust”.
He also reaffirmed the company’s commitment to stakeholders to grow their funds and assets as well as strengthen its culture of rewarding staff, and ensuring they are recognised for their contributions.
Former Managing Director, ARM Pension Managers Limited, Mr. Wale Odutola, said the new entity was well-positioned to play a pivotal role in shaping the future of pension fund management in the country.
He said, “We are thrilled to join forces with Access Pensions to create a stronger, more resilient organisation.”
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