Premium Pension and Trustfund Pensions have proposed a merger to meet the recapitalisation requirement set by the National Pension Commission (PenCom) ahead of the June 2027 deadline.
The Federal Competition and Consumer Protection Commission (FCCPC) announced the planned consolidation in a merger publication dated July 7.
FCCPC said the combined entity would operate as Premium Trustfund Pensions Limited upon completion of the transaction.
The commission said the merger would be implemented through a scheme of merger under Section 711 of the Companies and Allied Matters Act (CAMA) 2020.
According to the commission, the proposed transaction, which is subject to regulatory approvals, would create Nigeria’s third-largest PFA.
FCCPC said Premium Pension and Trustfund Pensions are currently the fifth and sixth largest PFAs, respectively.
Under the arrangement, the commission said all assets, liabilities and undertakings of Premium Pension would be transferred to Trustfund Pensions, after
