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Access Pensions Surpasses N1 Trillion AUM Milestone

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Access Pensions Limited, a subsidiary of Access Corporation, has achieved an astonishing feat,surpassing the N1 trillion mark in assets under management (AUM).

In an impressive trajectory, the Company – which emerged from the business combination of Sigma Pensions and First Guarantee Pension in December 2022has scaled up its assets under management to surpass the N1 trillion threshold in just six months.

This remarkable feat firmly establishes Access Pensions position as the fourth largest Pension Fund Administrator (PFA) measured by AUM in Nigeria and the second largest PFA, overseeing a portfolio of over 1 million Retirement Savings Accounts (RSAs).

Commenting on this feat, the Managing Director, Access Pensions, Dave Uduanu said: “Our journey to N1 trillion has been guided by a strong commitment to partnering with clients to shape their future.”

While technology served as a cornerstone, Uduanu also attributed Access Pensions’ success to a disciplined investment management approach and a resolute client-centric philosophy.

“Leveraging on technology in service delivery to improve user experience, following a disciplined approach to investment management, and being a member of the largest financial ecosystem in Nigeria, we can offer clients a superior retirement planning experience. Having a client-centric approach has played a significant role as we look to match our client’s needs and aspirations, building trust along the way, Uduanu continued.

He added that Access Pensions is committed to delivering consistent results, even in challenging times,which has been the cornerstone of its credibility and client promise.

Furthermore, on leveraging technology, Uduanu noted that Access Pensions has invested heavily in technology to enhance its operations and client experiences and that its digital platforms (USSD, Mobile, WhatsApp chatbot) and Contact Centre provide real-time updates, keeping clients informed about their portfolios and requests.

Since its official formation in December, Access Pensions has brought forth innovative products that cater to a wide range of risk preferences, effectively staying ahead of changing demands.

“Our vision is clear – to provide our clients with the financial tools needed to shape their retirement future. We are dedicated to raising the bar in service, performance, and client satisfaction. As we expand, responsible and sustainable investing will remain our priority, Uduanuadded.

With its range of innovative products and remarkable achievements like this, Access Pensions is unquestionably charting a new course for success in the pensions industry and playing a pivotal role in shaping thefinancial future of Nigerians.

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ACCESS BANK (SL) LTD STRENGTHENS LEADERSHIP TEAM WITH KEYBOARD APPOINTMENTS, NAMES NEW CHAIRMAN

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Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy. These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.

Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko. The appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance. Their combined
experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd. Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.

 

“We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to the outgoing Chairman, Alice Marie
Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.” Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter. The Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.

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Federal Government to Audit N2.8tn Fuel Subsidy Request Submitted by NNPCL

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The President Bola Ahmed Tinubu led Federal Government has made its intention known to initiate a new audit of the N2.8tn fuel subsidy request submitted by the Nigerian National Petroleum Company Limited.

An auditing firm, KPMG has successfully completed an initial audit that resulted in a reduction of the claims from N6 trillion to N2.7 trillion.

The federal government is exploring the option of involving an independent audit firm or instructing the Office of the Auditor General of the Federation to authenticate the assertions put forth by the corporation concerning the government’s outstanding debt to the oil company. The current move will ensure transparency and also ensure financial discipline in disbursing government funds which is in line to the administrations quest to curb corruption.

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Access Holdings Vests 23.8 million Units of Shares on Senior Executives

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In line with the disclosure requirements of the Securities and Exchange Commission and the Nigerian Exchange Limited, Access Holdings Plc , Africa’s leading financial services group, has announced the award of 23.8 million ordinary shares to some of its senior executives and executives of  Access Bank, its flagship subsidiary. This is in pursuant of the terms of its shareholders approved Employees Performance Share Plan.

Bolaji Agbede, the Acting Group Chief Executive Officer of Access Holdings, Roosevelt Ogbonna, the Managing Director/Chief Executive Officer of Access Bank, and six others were vested with 23,883,790 units of the Group’s shares, worth a combined N427.13 million.

This was disclosed via notices duly filed with the Nigerian Exchange Limited on Tuesday.

According to the filings, Ogbonna got the highest amount of shares totalling 12,345,679 units and worth N220.37 million, having been traded at N17.85 per share.

Agbede was vested with 2,216,992 units of shares, valued at N39.795 million.

Other directors, who had shares vested include Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, with 1,234,568 worth N22.16 million; Iyabo SojiOkusanya, Executive Director, Commercial and Investment Banking Division, Access Bank, with 1,691,308 at N17.95 per share. Her vested shares are valued at N30.36 million, and Chizoma Okoli, Access Bank’s Deputy Managing Director, Retail South, who got 1,728,395 units valued at N30.85 million.

Dr Gregory Jobome, Executive Director, Risk Management, and Hadiza Ambursa, Executive Director, Commercial Banking, were each vested with 1,728,395 valued at N30.85 and N31.02m respectively. Access Holdings’ Company Secretary, Sunday Ekwochi, was vested with 1,210,058 units of the Group’s shares worth N21.72m.

The shares were vested on May 3rd and May 6th.

The vesting of the shares is not a purchase or sale transaction in the context of the Exchange’s Rules.

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