, agreed with Access Bank Plc to buy out the latter’s pension subsidiary Access Pension Fund Custodian in a deal involving 100 per cent ownership transfer.
“The Central Bank of Nigeria and the National Pension Commission have given their “no objection” to the transaction, with completion subject to the receipt of all regulatory approvals,” FBN Holdings said on Wednesday in a regulatory filing announcing the deal.its insurance business, FBN Insurance Limited alongside its subsidiary FBN General Insurance Limited, to Cape Town-based Sanlam, Africa’s biggest underwriter.this year declared the transaction in a separate note also issued on Wednesday.
“What the holdco strategy allows us to do is to look at new markets and new opportunities that the traditional bank does not allow us to do,” Herbert Wigwe, the chief executive of the financial services group said in Lagos in March.