Leadway Holdings Limited has completed its acquisition of Pensions Alliance Limited (PAL) after receiving final approval from Nigeria’s National Pension Commission, a development that reshapes the country’s pension administration landscape and strengthens Leadway’s position among the largest operators in the sector.
The company confirmed the conclusion of the transaction in a notice to clients, describing the deal as a major step in building a larger and more diversified financial services platform. Leadway said the acquisition establishes a stronger institutional base for long-term pension administration and future expansion.
The integration of PAL Pensions into Leadway Pension PFA Limited is now underway under PenCom’s supervision. Leadway assured contributors that their accounts remain secure, fully regulated, and unaffected by the ongoing transition. The company said customer service channels remain active and unchanged during the process.
Leadway explained that both organisations are working jointly to ensure a seamless migration that protects client assets, maintains transparency, and preserves operational stability. It added that no immediate adjustments would be made to access procedures or customer interfaces.
The acquisition, initially announced in September, transfers ownership from FSDH Holding Company Limited and Africa Alliance Insurance PLC. PAL Pensions, which recently marked its 20th year in operation and surpassed one trillion naira in assets under management, now forms part of Leadway’s broader strategy to expand scale, diversify products, and reinforce long-term competitiveness.
Leadway noted that the combined entity strengthens corporate governance, digital innovation capacity, and national reach. It said the enlarged platform will support greater financial inclusion and deepen the resilience of Nigeria’s pension ecosystem.
Group Managing Director Tunde Hassan-Odukale described the deal as a commitment to the future of the country’s pension industry, saying the merger brings together scale, trust, and wider access for contributors nationwide. FSDH’s Group Managing Director, Segun Odusanya, said the decision aligns with FSDH’s portfolio strategy and positions PAL for long-term growth under Leadway’s leadership.
PAL Pensions’ Managing Director, Sa’adu Jijji, said joining the Leadway network will expand the organisation’s ability to offer broader financial solutions and deliver higher value to contributors and stakeholders.
With approvals secured, Leadway is set to widen its operational footprint across Nigeria’s financial services sector. The unified structure is expected to improve service delivery, strengthen retirement planning options, and enhance stability across the pension system.
 after receiving final approval from Nigeria’s National Pension Commission, a development that reshapes the country’s pension administration landscape and strengthens Leadway’s position among the largest operators in the sector.){kind=link}