Odu’a Investment Company Limited (OICL) has acquired a 10 per cent minority equity stake in FCMB Pensions Limited, a subsidiary of FCMB Group Plc, in a move reflecting growing confidence in Nigeria’s pension industry.
The transaction, which received approvals from the National Pension Commission (PenCom) and the Central Bank of Nigeria (CBN), with the Securities and Exchange Commission (SEC) duly notified, marks a strategic partnership aimed at strengthening the country’s long-term savings and financial system.
Victor Ayetoro, head of branding & communication at OICL, described the acquisition as a strategic investment in a resilient and steadily expanding sector of Nigeria’s financial services space. He noted that the deal would strengthen FCMB Pensions’ shareholder base by uniting two institutions with complementary strengths and a shared focus on long-term growth and value creation.
Otunba Bimbo Ashiru, chairman of Odu’a Investment, emphasised that the investment aligns with the company’s strategy of partnering with strong institutions in sectors critical to Nigeria’s economic stability and growth. “The pension industry plays a vital role in mobilising long-term savings and strengthening the financial system. FCMB Pensions has established a solid platform serving contributors across the country, and we see significant opportunity to support its continued growth and impact,” he said.
Abdulrahman Yinusa, group managing director of OICL, expressed confidence in FCMB Pensions’ direction and leadership, adding that the partnership would focus on expanding the company’s reach, supporting its strategic objectives, and delivering sustained value to contributors and stakeholders alike.
Odu’a Investment, jointly owned by the governments of the six Southwest states, manages a diversified portfolio across real estate, financial services, hospitality, agriculture, and industrial investments. FCMB Pensions Limited, a licensed pension fund administrator regulated by PenCom, manages over N1.1 trillion in assets as of December 2025, providing retirement savings administration and pension management services to both individuals and institutions nationwide.
