The chairman of Cosgrove Investment Limited, Umar Abdullahi, has confirmed that the company transferred real estate assets valued at about ₦4 billion to members of its management staff, describing the move as part of an internal policy to reward long service and performance with long-term assets rather than cash incentives.

The disclosure was made during the company’s 2025 end-of-year retreat held in Abuja, where management reviewed operational performance and strategic plans for 2026.
In a statement issued on Sunday, Abdullahi said the decision reflected what he described as the company’s philosophy of linking employee rewards to sustainable wealth rather than short-term benefits.
“Our people are the real capital of this organisation. Rewarding them with assets that appreciate over time reflects our commitment to shared prosperity and sustainable wealth creation,” he said.

According to the company, the assets transferred consist of real estate holdings allocated to selected management staff as part of a long-term incentive structure tied to service and contribution to the firm’s growth.
The properties are expected to generate income and retain value over time.
The development comes amid rising inflation and currency pressures that have reduced the real value of conventional bonuses, prompting some firms to explore alternative compensation models.

Analysts say asset-based rewards, though uncommon in Nigeria, are sometimes used to retain senior staff and align their interests with long-term corporate performance.
Cosgrove said the decision was taken alongside internal reviews of project delivery timelines, financing conditions and capital deployment strategies. Discussions at the retreat also examined cost management, returns on investment and market risks ahead of the 2026 business year.

The company noted that attention was given to ongoing and planned projects across several states, including Jigawa, Kano, Lagos and Ondo, with a focus on managing expansion while maintaining financial discipline.
Abdullahi said the asset transfers were part of a broader effort to embed what he described as a culture of shared value within the organisation, adding that the approach was intended to strengthen commitment among senior staff and support long-term stability.

“Our aim is to ensure that those who contribute to value creation also have a stake that endures,” he said.
Cosgrove Investment Limited operates in real estate development and infrastructure, with projects spread across multiple parts of the country.