Verod has divested its stake in Tangerine APT Pensions Limited to its minority partner, APT Securities and Funds Limited, marking a successful exit from the pension fund administrator.
In 2020, Verod acquired full ownership of AXA Mansard Pensions Limited and a 45% stake in APT Pension Fund Managers Limited. These entities merged in 2021 to form Tangerine APT Pensions, with combined Assets Under Management (AUM) of ₦100 billion. Over the course of Verod’s involvement, the company’s AUM surged to over ₦445 billion, driven by an expanded customer base, increased pension transfers, and higher contributions from retirement savings account holders.
During its tenure, Verod says it worked closely with Tangerine APT Pensions’ management to prioritize operational improvements and robust environmental, social, and governance (ESG) practices.
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