Odu'a acquires 10% stake in FCMB Pensions

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

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

The transaction 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.

The Group Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, commenting on the investment said “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. 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 significant opportunity to support its continued growth and impact.”

In his remark, the Group Managing Director of Odu’a Investment Company Limited, Mr. Abdulrahman Yinusa, said “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.”