Leadway Holdings has announced the full acquisition of PAL Pensions, a deal that will see the pension administrator merged with Leadway Pensure to create one of the largest operators in Nigeria’s pension industry.
Gatekeepers News reports that Tunde Hassan-Odukale, the group managing director and chief executive officer of Leadway Holdings, confirmed the development in a message to staff on Saturday.
He explained that the acquisition represents a major step in the group’s expansion drive and significantly strengthens its position in the financial services sector.
The MD said, “This acquisition is more than a milestone; it is a statement of our ambition to build a stronger, more competitive financial services group.”
“With this move, we expand our scale, giving us greater capacity to serve millions of Nigerians saving for their retirement. We unlock opportunities for growth, innovation, and efficiency across our businesses. We strengthen Leadway’s position as one of Africa’s leading financial services groups.”
The Leadway boss assured employees that further information on the integration of PAL Pensions with Leadway Pensure will be made public soon.
He also praised staff for their efforts, saying, the acquisition is a proud moment for us all, and it is your hard work, dedication, and commitment that make such achievements possible.
By acquiring PAL Pensions, Leadway now moves into the top three pension fund administrators (PFAs) in the country in terms of assets under management.
The announcement comes weeks after Leadway Holdings, its subsidiaries, and Hassan-Odukale divested from First HoldCo, selling over 2.28 billion shares valued at N70.8 billion.
The shares were offloaded through multiple entities, including Leadway Holdings Limited, Leadway Assurance Co. Ltd, and Leadway Pensure PFA Ltd, alongside direct holdings by Hassan-Odukale himself.
