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Home Business News

Future Unity Glanvills Pensions becomes Veritas Glanvills Pensions Limited

Uche Ndimele by Uche Ndimele
July 4, 2018
in Business News, Company News
Future Unity Glanvills Pensions becomes Veritas Glanvills Pensions Limited
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Following the change of name from UnityKapital Assurance to Veritas Capital Limited, due to the divestiture of Unity Bank from the insurance company, the name of its subsidiary pension fund management company, Future Unity Glanvills Pensions Ltd, (FUG Pensions) has been changed to Veritas Glanvills Pensions Ltd.

It will be recalled that Veritas Capital acquired 50.3% majority equity shares of Unity Bank Plc in UnityKapital Assurance as a result of the Central Bank of Nigeria, CBN’s directive that banks should either divest from non-core banking subsidiaries or in the alternative, form holding companies.

With the acquisition and name change, Veritas Glanvills Pensions is now owned by Veritas Kapital Assurance Plc, “a long-standing financial corporate in insurance and one of Nigeria’s leading insurance companies” and “Glanvills Enthoven & Co. Limited, an insurance broking company with over 30 years’ experience in pension fund management and administration”.

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Future Unity Glanvills Pensions, now Veritas Glanvills Pensions “was licensed by the National Pension Commission (PenCom) as a Pension Fund Administrator on the 21st of June 2007 to manage Retirement Savings Accounts (RSA) of individuals/organisations across both the public and private sector in Nigeria” in accordance with the provisions of the Nigeria Pension Reform Act (PRA 2014).

With  “authorized and paid up share capital of N1.5 billion and operations in six (6) regional offices in Abuja, Asaba, Ibadan, Kano, Lagos, and Port Harcourt and several branch/zonal offices spread across the country”, Veritas Glanvills Pensions Ltd is poised to continue from where Future Unity Glanvills Pensions stopped.


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Tags: Unity Glanvills PlcVeritas Glanvills Pensions
Uche Ndimele

Uche Ndimele

Uchenna Ndimele is the President of Quantitative Financial Analytics Ltd. MutualfundsAfrica.com and mutualfundsnigeria.com (both Quantitative Financial Analytics company website) is a leader in supplying mutual fund information, analysis, and commentary on African mutual funds. We provide reliable fund data; and ratings information that will add value to fund managers, the media, individual investors and investment clubs.

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Comments 3

  1. Abdullahi says:
    March 19, 2019 at 6:13 pm

    Is my pesion but then no Troy why NCOs wuna no get office I patrol taya b4 I see the office atachi with diamond bank

    Reply
  2. Salau Omowunmi says:
    March 27, 2019 at 6:05 pm

    Please, am once under this FUG but I dont know how to continue with the present pension scheme.

    Reply
  3. Odejimi A.O Gbenga says:
    May 18, 2021 at 10:57 am

    Please, am once under this FUG but I dont know how to continue with the present pension scheme.

    Reply

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