Odu’a Investment Completes Strategic Minority Stake Acquisition in FCMB Pensions

Sunday Okobi

Odu’a Investment Company Limited (OICL) has announced the completion of its acquisition of a 10 per cent minority equity stake in the issued share capital of FCMB Pensions Limited, a subsidiary of FCMB Group Plc.

The acquisition followed the receipt of the requisite approvals from the regulatory authorities – National Pension Commission (PenCom) and Central Bank of Nigeria (CBN). The Securities and Exchange Commission (SEC) had also been duly notified.

The transaction, according to a statement signed and issued by the organisation’s Head of Branding and Communication, Victor Ayetoro, represents a strategic investment by Odu’a in Nigeria’s growing pension industry, “a resilient and steadily expanding segment of the country’s financial services sector.

“It also strengthens FCMB Pensions’ shareholder base, bringing together two established institutions with complementary strengths and a shared commitment to long-term growth and value creation.”

Ayetoro stated that Group Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, while commenting on the investment, said, “This investment reflects Odu’a’s strategy of partnering strong institutions operating in sectors that are central to Nigeria’s long-term economic stability and growth.

“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.”

The statement quoted Group Managing Director of OICL, Mr. Abdulrahman Yinusa, as saying, “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.”

According to Ayetoro, “Odu’a Investment Company Limited is a leading investment holding company jointly owned by the governments of the six South-west states of Nigeria.

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

He said FCMB Pensions Limited was a licenced pension fund administrator regulated by PenCom), adding, “The company provides retirement savings administration and pension management services to individuals and institutions across Nigeria.  As of December 2025, it has over N1.1 trillion in Assets Under Management (AUM).”