Hello, and welcome to the Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the mainstream business activities, while not forgetting the tech/economy build up.
Here are the Headlines:
· CBN rules out introduction of N5000 note
· SEC to fight against ponzi scheme in Nigeria
· Nigeria records N272trn e-transaction in 9 months
· CBN rules out extension of deadline for phase-out of old Naira notes
· Access Holdings completes sigma pension acquisition
Summary:
Access Holdings Plc, trading as Access Corporation, has announced the completion of its acquisition of an indirect equity stake in Sigma and the merger of its subsidiary, First Guarantee Pension Limited (FGPL) with Sigma.
Following the sanction of the Scheme of Merger between Sigma and FGPL by the Federal High Court on December 1, 2022, FGPL has been dissolved without winding up leaving Sigma as the surviving entity, according to Access Holdings.
Commenting on the transaction, Dr. Herbert Wigwe, Group Chief Executive of the Corporation, said:
“Following the successful completion of the merger, our plan is to leverage the synergies of these entities, as well as the Corporation’s expansive distribution network, strong risk management culture and best-in-class governance standards to create a formidable pension funds administration business.”
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