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 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, 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 a significant opportunity to support its continued growth and impact.”

In his remarks, 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.”