Leadway Holdings Limited (Leadway), one of Nigeria’s leading diversified financial services groups, has announced the acquisition of a 100% equity stake in Pensions Alliance Limited (PAL), a top Pension Fund Administrator (PFA).
The landmark deal, involving the transfer of ownership from FSDH Holding Company Limited (“FSDH”) and Africa Alliance Insurance PLC, signals a major consolidation in Nigeria’s pension sector.
PAL Pensions, which recently marked its 20th anniversary and surpassed N1 trillion in Assets Under Management (AUM), will now be integrated into Leadway Pensure. The merger creates one of Nigeria’s largest and strongest pension fund administrators, enhancing capacity to deliver greater value to contributors across the country.
According to Leadway, the acquisition reinforces its strategy of diversification, sustainable growth, and long-term value creation. By uniting the two PFAs, the Group expands its nationwide reach while driving financial inclusion and strengthening Nigeria’s pension industry.
Commenting on the transaction, Tunde Hassan-Odukale, Group Managing Director of 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.”
Segun Odusanya, Group Managing Director of FSDH, described the deal as a strategic move aligned with the company’s global outlook, “This decision reflects our long-term strategy to sharpen our portfolio focus while ensuring PAL Pensions is well positioned for sustainable growth. We are confident in the vision and strength demonstrated by Leadway Holdings all through the process, affirming that PAL Pensions is indeed being entrusted into capable hands,” he said.
Sa’adu Jijji, Managing Director of PAL Pensions, highlighted the smooth nature of the transition and its benefits for stakeholders. “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,”Jijji added.
The acquisition, which is still subject to regulatory approval from the National Pension Commission (PenCom), positions Leadway Holdings as a dominant force in Nigeria’s pension market.
By merging PAL Pensions with Leadway Pensure, the Group is set to create a stronger, more resilient pension platform built on governance, trust, innovation, and customer value. The consolidation is expected to enhance transparency and stability, ensuring contributors and stakeholders benefit from a sustainable and secure pension future.
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