Leadway Holdings announces acquisition of PAL Pensions

Leadway Holdings Limited (“Leadway”), one of Nigeria’s foremost and most diversified financial services groups, has announced that it has reached an agreement to acquire 100% equity interest in Pensions Alliance Limited (“PAL”), a leading Pension Fund Administrator (PFA). The transaction, which includes the transfer of ownership by FSDH Holding Company Limited (“FSDH”) and Africa Alliance Insurance PLC, marks a milestone consolidation in Nigeria’s pension industry.

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This acquisition of PAL Pensions which recently celebrated the dual milestone of its 20th anniversary and crossing of the N1trillion Asset Under Management (AUM), underscores Leadway Holdings’ strategy of diversification and sustainable growth. By integrating PAL with Leadway Pensure, the Group creates one of the largest and most resilient pension fund administrators with a reinforced capacity to deliver more value to Nigerians. The move further expandsLeadway’s nationwide reach, positioning it to capture future growth in a pension market with immense potentials. The combined strength in governance, innovation, and customer reach promotes the collective goal of financial inclusion, delivers long-term value to stakeholders, and contributes to the stability of Nigeria’s financial sector.

Commenting on the transaction, Tunde Hassan-Odukale, Group Managing Director, Leadway Holdings Limited, said: “This milestone is more than a transaction, it is a reaffirmation of our belief in the future of Nigeria’s pension industry and our responsibility to help contribute to its growth. By bringing PAL and Leadway Pensure together, we are building not only scale, but resilience, trust, and broader access for more Nigerians to create wealth. At Leadway, we remain guided by a vision of service that balances innovation with integrity, and ambition with inclusivity. This acquisition reflects our commitment to creating lasting value – for our customers, the industry and for the nation.”

Speaking on the development, Segun Odusanya, Group Managing Director FSDH affirmed that the decision was a strategic one taken in line with the global vision of the organization, with full consideration of the long-term interests of both organisations factored. “This decision reflects our long-term strategy to sharpen our portfolio focus while ensuring PAL Pensions is well positioned for sustainable growth,” he said. He further expressed confidence in the vision and strength demonstrated by Leadway Holdings all through the process, affirming that PAL Pensions is indeed being entrusted into capable hands.

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Also reacting to the development, Sa’adu Jijji, Managing Director, PAL Pensions, expressed his appreciation for the seamless mannerwith which the transition has been handled, with particular focus placed on protecting the customers, employees and stakeholders of PAL Pensions. “Our transition from PAL Pension into the Leadway ecosystem, without doubt, opens the door to industry-focused collaboration that is bound to deliver a wider range of financial solutions, more growth, greater impact and enhanced value for all stakeholders in PAL Pensions as we continue to deliver the stellar services we are renowned for’.

The transaction, which remains subject to regulatory approvals, marks a pivotal moment for Leadway Holdings as it strengthens its footprint in Nigeria’s financial services sector. By unifying PAL with Leadway Pensure, the Group is better positioned for continued growth and industry leadership by creating one of the country’s largest and most resilient pension platforms anchored on governance, trust, and customer value. As integration progresses under the guidance of PenCom and Leadway’s leadership, contributors and stakeholders can look ahead with confidence to a stable, transparent, and sustainable financially secured future.