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Odu’a Investment Company Limited says it has completed the acquisition of a 10 percent minority equity stake in FCMB Pensions Limited from FCMB Group Plc.
In a statement on Tuesday, the company said the transaction received approvals from the National Pension Commission (PenCom) and the Central Bank of Nigeria (CBN), while the Securities and Exchange Commission (SEC) has been notified.
Odu’a Investment said the acquisition represents a strategic move into Nigeria’s pension industry, which it described as a resilient and steadily growing segment of the financial services sector.
The company added that the deal strengthens the shareholder base of FCMB Pensions, bringing together institutions with complementary strengths and a shared focus on long-term value creation.
Speaking on the investment, Bimbo Ashiru, group chairman of Odu’a Investment, said the transaction aligns with the firm’s strategy of partnering with institutions in sectors critical to Nigeria’s economic stability.
“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,” he said.
Also commenting, Abdulrahman Yinusa, group managing director of Odu’a Investment, said the partnership reflects confidence in FCMB Pensions’ strategy and leadership.
“Our partnership with FCMB Group Plc reflects confidence in FCMB Pensions’ strategy, leadership and long-term potential,” he said.
Yinusa said both parties would work to expand the company’s reach and deliver sustained value to contributors and other stakeholders.
On March 9, FCMB Group announced that it raised N11 billion by selling 10 percent minority stake of FCMB Pensions.
FCMB Group also secured N231.8 billion through public offer, bringing the total capital raised to N242 billion, to meet the Central Bank of Nigeria’s (CBN) minimum capital requirements.
In February, Odu’a Investment unveiled a five-year strategic roadmap targeting N1 trillion in total assets, N50 billion in group revenue, and N30 billion in profit before tax by 2030.
