Abuja, Nigeria
The merger of Access Pensions and ARM Pensions has been hailed as a transformative development for Nigeria’s pensions industry by Nze Chidi Duru, OON, Chairman of Grand Towers Limited.
Duru made this known in a statement released by the Chief of Staff/Media Adviser, Ugboaja, Stanley Uzoamaka, Ph.D., during the unveiling ceremony of Access ARM Pensions Limited at the company’s headquarters in Abuja, attended by notable dignitaries from various sectors.
He expressed confidence that the merger would enhance operational efficiency and significantly improve retirement savings and investment services for customers. With a combined Asset Under Management (AUM) of N3 trillion and over 2 million Retirement Savings Account (RSA) holders, Duru believes the new entity is poised to become a leading force among Pension Fund Administrators (PFAs) in Nigeria.
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Hon. Austin Okpara, acting Chairman of Access ARM Pensions and former Deputy Speaker of the House of Representatives, also commended Duru for his pioneering role in the pensions industry, particularly for founding First Guarantee Pension Limited in 2004.
Okpara recognized Duru’s contributions as chair of the House of Representatives Ad-Hoc Committee on Pension Reforms, which played a crucial role in establishing the PFA industry in Nigeria.
The merger follows Access Pensions Limited’s acquisition of First Guarantee Pension Limited in 2022, further consolidating Duru’s legacy in the sector. With the recent approval from the National Pension Commission (PenCom), the number of PFAs in Nigeria now stands at 18.
