Leadway Expands Pension Footprint with Full Acquisition of PAL

Leadway Holdings Limited, one of Nigeria’s foremost and most diversified financial services groups, has announced that it has reached an agreement to acquire 100 per cent equity interest in Pensions Alliance Limited (PAL), a leading Pension Fund Administrator.

The acquisition was confirmed in a statement by Leadway Holdings on Sunday.

The transaction, which also includes the transfer of ownership of FSDH Holding Company Limited and Africa Alliance Insurance PLC, marks a significant consolidation move in Nigeria’s pension industry.

PAL Pensions recently celebrated its 20th anniversary and crossed the N1 trillion mark in Assets Under Management (AUM). The acquisition underscores Leadway Holdings’ strategy of diversification and sustainable growth. By merging PAL with Leadway Pensure, the group will create one of the largest and most resilient pension fund administrators in the country, with stronger capacity to deliver greater value to Nigerians.

The deal expands Leadway’s nationwide reach and positions the company for future growth in Nigeria’s evolving pension market. The combined strength in governance, innovation, and customer engagement is expected to promote financial inclusion, long-term value creation, and stability within the financial system.

Commenting on the acquisition, Group Managing Director of Leadway Holdings Limited, Tunde Hassan-Odukale, 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 contribute to its growth. By bringing PAL and Leadway Pensure together, we are building not only scale but also resilience, trust, and broader access for Nigerians to create wealth. This acquisition reflects our commitment to lasting value for our customers, the industry, and the nation.”

Group Managing Director of FSDH, Segun Odusanya, described the decision as a strategic move aligned with the global vision of the company.

“This reflects our long-term strategy to sharpen our portfolio focus while ensuring PAL Pensions is positioned for sustainable growth,” he said, expressing confidence in Leadway’s vision and execution capability.

Managing Director of PAL Pensions, Sa’adu Jijji, praised the seamless nature of the transition and reassured stakeholders of continuity and value creation.

“Our transition into the Leadway ecosystem opens the door to industry-focused collaboration that will deliver wider financial solutions, greater impact, and enhanced value for all stakeholders while maintaining the high service standards we are known for,” Jijji stated.

The transaction, subject to regulatory approvals, represents a pivotal step for Leadway Holdings as it strengthens its leadership in the Nigerian financial services sector. With guidance from the National Pension Commission, the integration will ensure stability, transparency, and a secure future for contributors.

Leadway Holdings Limited, incorporated in 1970, has evolved from a traditional insurer into a diversified financial services group with operations spanning insurance, pensions, asset management, health insurance, wealth management, trusteeship, and hospitality. For over five decades, the group has built a reputation for reliability, integrity, and strong governance, making it one of Nigeria’s most trusted financial institutions.