Odu’a Investment Expands Portfolio with 10% Stake in FCMB Pensions
Odu’a Investment Company Limited (OICL) has strengthened its footprint in Nigeria’s financial services sector with the acquisition of a 10% minority equity stake in FCMB Pensions Limited, a subsidiary of FCMB Group Plc.
The transaction, which has received all necessary regulatory approvals from the National Pension Commission (PenCom) and the Central Bank of Nigeria (CBN), with notification to the Securities and Exchange Commission (SEC), signals Odu’a’s continued push into high-growth, resilient sectors of the economy.
Disclosed in a statement signed by Victor Ayetoro, Head of Branding and Communication, the investment underscores Odu’a’s strategic positioning within Nigeria’s rapidly expanding pension industry—an increasingly critical pillar for long-term capital formation and financial stability.
The deal also enhances FCMB Pensions’ shareholder structure, aligning two established institutions with complementary capabilities and a shared focus on sustainable growth, operational scale, and long-term value creation.
Group Chairman of OICL, Otunba Bimbo Ashiru, described the move as consistent with the company’s investment philosophy. “This investment reflects Odu’a’s strategy of partnering with strong institutions in sectors central to Nigeria’s economic stability and growth. The pension industry plays a vital role in mobilising long-term savings, and FCMB Pensions has built a robust platform serving contributors nationwide. We see significant upside in supporting its continued expansion and impact,” he said.
Also commenting, the Group Managing Director of OICL, Abdulrahman Yinusa, highlighted the growth outlook of the partnership. “Our investment reflects strong confidence in FCMB Pensions’ strategy, leadership and long-term potential. We are well-positioned to support its expansion, deepen market penetration, and deliver sustained value to contributors and stakeholders,” he noted.
Odu’a Investment Company, jointly owned by the governments of Nigeria’s six South-West states, manages a diversified portfolio spanning real estate, financial services, hospitality, agriculture, and industrial sectors, with a mandate to drive economic growth and regional development.
FCMB Pensions Limited, a licensed pension fund administrator, continues to demonstrate strong market performance, with assets under management exceeding ₦1.1 trillion as of December 2025—reinforcing its position as a key player in Nigeria’s pension industry.
The acquisition marks a significant step in Odu’a’s growth strategy while positioning FCMB Pensions for enhanced scale, innovation, and long-term value delivery in a competitive and evolving market.
