{"id":31912,"date":"2021-07-08T04:27:49","date_gmt":"2021-07-08T03:27:49","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=31912"},"modified":"2021-10-07T00:43:18","modified_gmt":"2021-10-07T00:43:18","slug":"aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/","title":{"rendered":"AIICO Insurance notifies NGX of 33.9% acquisition by FCMB Pensions"},"content":{"rendered":"<p>AIICO Insurance has notified the Nigerian Exchange (NGX) Ltd of the completion of the sale of AIICO Insurance\u2019s 33.9 per cent shareholding in AIICO Pensions Managers Ltd to FCMB Pensions Ltd.<br \/>\nThe Company Secretary of AIICO Insurance, Mr Donald Kanu, said this in a notice posted on the NGX website on Wednesday.<br \/>\nKanu said the notice was in pursuant to Rule 17.6 of the Issuers Rules, Rulebook of the NGX 2015, following the obtention of all relevant regulatory approvals.<br \/>\nHe said that based on the transaction structure approved by the regulators, only 33.9 per cent of AIICO Insurance\u2019s shareholding in AIICO Pensions was sold to FCMB Pensions.<br \/>\nKanu said this was against the 70 per cent stake as indicated in its earlier notification to the NGX.<br \/>\nHe added that FCMB Pensions bought 26.1 per cent stake held by other shareholders in AIICO Pensions thereby making FCMB Pensions a majority shareholder with 60 per cent stake in AIICO Pensions.<br \/>\n\u201cFCMB Pensions also bought 26.1 per cent stake held by other shareholders in AIICO Pensions thereby making FCMB Pensions a majority shareholder with 60 per cent stake in AIICO Pensions.<br \/>\n\u201cIn line with the approval from the National Pension Commission (PENCOM), the transaction is subject to a merger of AIICO Pensions and FCMB Pensions.<br \/>\n\u201cThis is in compliance with the PENCOM\u2019s circular ref: PENCOM\/INSP\/CIR\/SURV\/15\/03 of Sept. 21, 2015 which states that \u201cno individual, group of individuals or company shall have direct or indirect ownership\/shareholding of five per cent and above in more than one licensed Pension Fund Operator,\u201d he said.<br \/>\nKanu said following the sale, AIICO Pensions ceases to be a subsidiary of AIICO Insurance but an indirect subsidiary of FCMB Group Plc.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-31912\" data-postid=\"31912\" class=\"themify_builder_content themify_builder_content-31912 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n","protected":false},"excerpt":{"rendered":"<p>AIICO Insurance has notified the Nigerian Exchange (NGX) Ltd of the completion of the sale of AIICO Insurance\u2019s 33.9 per cent shareholding in AIICO Pensions Managers Ltd to FCMB Pensions Ltd. The Company Secretary of AIICO Insurance, Mr Donald Kanu, said this in a notice posted on the NGX website on Wednesday. Kanu said the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125,126],"tags":[676],"class_list":["post-31912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","category-trade-and-industry","tag-aiico","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AIICO Insurance notifies NGX of 33.9% acquisition by FCMB Pensions - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AIICO Insurance notifies NGX of 33.9% acquisition by FCMB Pensions - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"AIICO Insurance has notified the Nigerian Exchange (NGX) Ltd of the completion of the sale of AIICO Insurance\u2019s 33.9 per cent shareholding in AIICO Pensions Managers Ltd to FCMB Pensions Ltd. The Company Secretary of AIICO Insurance, Mr Donald Kanu, said this in a notice posted on the NGX website on Wednesday. Kanu said the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/\" \/>\n<meta property=\"og:site_name\" content=\"The Freezone Channel\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-08T03:27:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-07T00:43:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/aiico.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"The Freezone Channel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Freezone Channel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/\",\"name\":\"AIICO Insurance notifies NGX of 33.9% acquisition by FCMB Pensions - The Freezone Channel\",\"isPartOf\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/aiico.jpg\",\"datePublished\":\"2021-07-08T03:27:49+00:00\",\"dateModified\":\"2021-10-07T00:43:18+00:00\",\"author\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3\"},\"breadcrumb\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/#primaryimage\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/aiico.jpg\",\"contentUrl\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/aiico.jpg\",\"width\":640,\"height\":360},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thefreezonechannel.com\/old\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"AIICO Insurance notifies NGX of 33.9% acquisition by FCMB Pensions\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#website\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/\",\"name\":\"The Freezone Channel\",\"description\":\"The Freezone Channel\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/thefreezonechannel.com\/old\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3\",\"name\":\"The Freezone Channel\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g\",\"caption\":\"The Freezone Channel\"},\"sameAs\":[\"https:\/\/thefreezonechannel.com\"],\"url\":\"https:\/\/thefreezonechannel.com\/old\/author\/fzmainadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"AIICO Insurance notifies NGX of 33.9% acquisition by FCMB Pensions - The Freezone Channel","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/","og_locale":"en_US","og_type":"article","og_title":"AIICO Insurance notifies NGX of 33.9% acquisition by FCMB Pensions - The Freezone Channel","og_description":"AIICO Insurance has notified the Nigerian Exchange (NGX) Ltd of the completion of the sale of AIICO Insurance\u2019s 33.9 per cent shareholding in AIICO Pensions Managers Ltd to FCMB Pensions Ltd. The Company Secretary of AIICO Insurance, Mr Donald Kanu, said this in a notice posted on the NGX website on Wednesday. Kanu said the [&hellip;]","og_url":"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/","og_site_name":"The Freezone Channel","article_published_time":"2021-07-08T03:27:49+00:00","article_modified_time":"2021-10-07T00:43:18+00:00","og_image":[{"width":640,"height":360,"url":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/aiico.jpg","type":"image\/jpeg"}],"author":"The Freezone Channel","twitter_card":"summary_large_image","twitter_misc":{"Written by":"The Freezone Channel","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/","url":"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/","name":"AIICO Insurance notifies NGX of 33.9% acquisition by FCMB Pensions - The Freezone Channel","isPartOf":{"@id":"https:\/\/thefreezonechannel.com\/old\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/#primaryimage"},"image":{"@id":"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/#primaryimage"},"thumbnailUrl":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/aiico.jpg","datePublished":"2021-07-08T03:27:49+00:00","dateModified":"2021-10-07T00:43:18+00:00","author":{"@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3"},"breadcrumb":{"@id":"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/#primaryimage","url":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/aiico.jpg","contentUrl":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/aiico.jpg","width":640,"height":360},{"@type":"BreadcrumbList","@id":"https:\/\/thefreezonechannel.com\/old\/aiico-insurance-notifies-ngx-of-33-9-acquisition-by-fcmb-pensions\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thefreezonechannel.com\/old\/"},{"@type":"ListItem","position":2,"name":"AIICO Insurance notifies NGX of 33.9% acquisition by FCMB Pensions"}]},{"@type":"WebSite","@id":"https:\/\/thefreezonechannel.com\/old\/#website","url":"https:\/\/thefreezonechannel.com\/old\/","name":"The Freezone Channel","description":"The Freezone Channel","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thefreezonechannel.com\/old\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/96bf776ac18c24b9af3209b53d6372d3","name":"The Freezone Channel","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3f4e6030bdb5805ae43cd1d477fe145bf335374d0d4cf5fc6df5a21a74c2c20f?s=96&d=mm&r=g","caption":"The Freezone Channel"},"sameAs":["https:\/\/thefreezonechannel.com"],"url":"https:\/\/thefreezonechannel.com\/old\/author\/fzmainadmin\/"}]}},"builder_content":"","_links":{"self":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts\/31912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/comments?post=31912"}],"version-history":[{"count":0,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts\/31912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/media\/24346"}],"wp:attachment":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/media?parent=31912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/categories?post=31912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/tags?post=31912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}