Leadway Holdings has announced an agreement to acquire full ownership of PAL Pensions.

The group managing director and CEO, Tunde Hassan-Odukale, disclosed the transaction in an email to employees on Saturday.

Hassan-Odukale stated that the acquisition will position the group among the top three pension fund administrators in Nigeria by assets under management.

He noted that PAL Pensions will be integrated with Leadway Pensure, the company’s existing PFA, to significantly increase its scale and customer base.

“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 GMD said.

He added that further details on the integration process will be shared in the coming weeks.

Hassan-Odukale said “the acquisition is a proud moment for us all, and it is your hard work, dedication, and commitment that make such achievements possible”.

The acquisition comes after Hassan-Odukale, Leadway Holdings, and its subsidiaries sold 2,288,798,807 shares in First HoldCo valued at N70.8 billion in July.