Leadway Holdings to Acquire PAL Pensions in Expansion Move
Leadway Holdings is on track to expand its influence in Nigeria’s financial services space through the acquisition of PAL Pensions, according to reports confirmed internally this week.
Although no official announcement has been made by either company or the regulator, employees received confirmation of the deal via an internal memo. A staff member, speaking to Nairametrics under anonymity, explained that discussions had been ongoing for weeks before the confirmation.
“Yes, Leadway has acquired PAL Pensions. Though we had been hearing about it for some weeks, an official memo has now been received to confirm it,” the source revealed.
The employee added that the integration process will begin soon, with more information expected to be communicated to both staff and customers in the coming weeks.
The company’s Managing Director also addressed staff, applauding their dedication and commitment: “The acquisition is a proud moment for us all, and it is your hard work, dedication, and commitment that make such achievements possible.”
This development comes shortly after Leadway Holdings and its affiliates divested a major stake in First HoldCo, with RC Investments acquiring 2.647 billion shares previously held by companies tied to former First Bank Chairman, Tunde Hassan-Odukale.
The entities involved in that transaction included Leadway Holdings, Leadway Pensure PFA, Haskal Holdings, and Leadway/NNPC Staff Pension Investment.
Analysts believe that taking over PAL Pensions signals Leadway’s intent to strengthen its footprint in the highly competitive pensions market, a sector viewed as one of the most significant growth areas within Nigeria’s capital markets.
