Tangerine Pensions Limited and Apt Pension Funds Managers Limited announce merger

Following receipt of all regulatory approvals and court sanctions, Tangerine Pensions Limited and APT Pension Funds Managers Limited, two of Nigeria’s leading pension fund administrators, have announced the completion of the legal process for the merger of the two companies. With the completion of the merger process, the combined entity will be known as Tangerine APT Pensions Limited.

By leveraging the combined resources of the two companies and deploying top-notch technology and digital solutions, the merger will strategically position- Tangerine APT Pensions to compete more effectively and to become a dominant player in the evolving pension administration landscape. With a strong industry track record, a deeply experienced management team, and a solid shareholder base, Tangerine APT is well-positioned to meet the new industry capital requirements, surpass expectations and set the benchmark for excellent service delivery in the pension industry.

Commenting on the merger, the Managing Director of Tangerine Pensions, Dapo Akisanya said, “APT Pension and Tangerine Pensions” share strong provenance. We are driven to excel, both in terms of financial performance as well as provision of innovative solutions. We see success when our clients’ expectations are exceeded, and they retire in comfort and confidence. With this merger, we will significantly increase our market share, enhance our ability to deliver superior value to our stakeholders, and play a more meaningful role in their daily lives.”

Adding to Dapo Akisanya’s remarks, the erstwhile Managing Director of APT Pension, Dr. Al- Mujtaba Abubakar Gumi said, “We are entering a new phase of growth and Tangerine Pensions and APT Pension customers will continue to have unrestricted access to their RSA accounts and other services just as they did before the merger. Very importantly, our clients are poised to reap manifold benefits from this business combination.”

About Tangerine APT Pensions Limited – Tangerine APT Pensions is a member of the Tangerine Africa Group, one of Nigeria’s leading financial services groups. Other businesses under the Tangerine Africa banner include Tangerine Life Insurance Limited and Tangerine General Insurance Limited. Tangerine Africa is building a robust and scalable digital platform to meet the everyday needs of an increasingly modern and financially savvy marketplace.