Odu’a Investment acquires 10% stake in FCMB Pensions

Odu’a Investment Company Limited said on Monday that it has acquired a 10 per cent minority equity stake in FCMB Pensions Limited, a subsidiary of FCMB Group Plc, in a move aimed at strengthening its presence in Nigeria’s growing pension industry.

The company disclosed that the transaction was completed after receiving all required regulatory approvals from the National Pension Commission and the Central Bank of Nigeria, while the Securities and Exchange Commission has also been duly notified.

Odu’a Investment said the acquisition represents a strategic investment in a resilient and steadily expanding segment of Nigeria’s financial services sector. The company added that the deal also reinforces FCMB Pensions’ shareholder base through the entry of a long-term institutional investor.

The Group Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, said the investment aligns with the company’s strategy of partnering with strong institutions operating in sectors critical to Nigeria’s long-term economic stability.

“This investment reflects Odu’a’s strategy of partnering with strong institutions operating in sectors that are central to Nigeria’s long-term economic stability and growth,” Ashiru said in a statement.

“The pension industry plays a critical role in mobilising long-term savings and strengthening the financial system. FCMB Pensions has built a solid platform serving contributors across Nigeria, and we see a significant opportunity to support its continued growth and impact.”

Also commenting on the transaction, the Group Managing Director of Odu’a Investment Company Limited, Abdulrahman Yinusa, described the deal as a vote of confidence in FCMB Pensions’ leadership and long-term prospects.

“Our partnership with FCMB Group Plc reflects confidence in FCMB Pensions’ strategy, leadership, and long-term potential. Together, we will work to expand its reach, support its strategic objectives, and deliver sustained value to contributors and other stakeholders,” Yinusa said.

The investment brings together two established institutions with complementary strengths and a shared focus on long-term value creation. According to the company, the partnership positions FCMB Pensions to deepen market penetration and enhance service delivery within Nigeria’s contributory pension scheme.

Odu’a Investment Company Limited is an investment holding company jointly owned by the governments of the six South-West states of Nigeria.

The firm manages a diversified portfolio spanning real estate, financial services, hospitality, agriculture, and industrial investments, with a mandate to generate sustainable economic value and support regional development.