Leadway Holdings has announced the acquisition of 100 per cent ownership of PAL Pensions, in a deal set to significantly strengthen its foothold in Nigeria’s pension fund administration (PFA) sector.
The Group Managing Director and CEO, Tunde Hassan-Odukale, disclosed the development in a message to employees on Saturday, noting that PAL Pensions will be merged with Leadway Pensure, the group’s existing PFA subsidiary. The consolidation is expected to place Leadway among the top three PFAs in Nigeria by assets under management.
“This acquisition is more than a milestone; it is a statement of our ambition to build a stronger, more competitive financial services group,” Hassan-Odukale said. “With this move, we expand our scale, giving us greater capacity to serve millions of Nigerians saving for their retirement.”
The deal underscores Leadway’s broader diversification strategy across insurance, pensions, and financial services. By combining PAL Pensions with Leadway Pensure, the company will expand its client base and deepen its presence in Nigeria’s pensions market, which currently manages assets valued at over ₦19 trillion.
Hassan-Odukale credited the milestone to employees’ “hard work, dedication, and commitment,” while assuring that details of the integration process will be shared in the coming weeks.
The acquisition follows Leadway’s divestment in July, when the company and its subsidiaries sold 2.29 billion shares in First HoldCo worth ₦70.8 billion, a move analysts say provided liquidity and flexibility for the PAL transaction.
Industry observers note that consolidation in Nigeria’s pension sector is accelerating, as operators seek scale, efficiency, and stronger governance structures to compete in a market expected to expand under ongoing regulatory reforms and rising retirement savings enrollment.
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