Odu’a Investment Secures 10 Percent Stake In FCMB Pensions To Strengthen Nigeria’s Retirement Sector

Odu’a Investment Company Limited has completed the acquisition of a 10 percent minority equity stake in FCMB Pensions Limited from FCMB Group Plc, in a move aimed at consolidating its presence in Nigeria’s growing pension industry. The transaction received regulatory approval from the National Pension Commission (PenCom) and the Central Bank of Nigeria (CBN), with the Securities and Exchange Commission (SEC) duly notified.

Brandspur Banking News Desk reports that the strategic investment is intended to reinforce the shareholder base of FCMB Pensions, uniting institutions with complementary strengths and a shared focus on long-term value creation within Nigeria’s retirement ecosystem.

Commenting on the acquisition, Bimbo Ashiru, Group Chairman of Odu’a Investment, said the move aligns with the company’s strategy of partnering with firms in sectors critical to national economic stability. He noted, “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.”

Abdulrahman Yinusa, Group Managing Director of Odu’a Investment, emphasised the partnership reflects confidence in FCMB Pensions’ leadership and strategic direction. “Our collaboration with FCMB Group Plc demonstrates our belief in FCMB Pensions’ long-term potential. We aim to work closely to expand the company’s reach and deliver sustained value to contributors and stakeholders,” he said.

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Earlier this month, FCMB Group Plc had announced the raising of N11 billion by selling the 10 percent minority stake in FCMB Pensions. The bank also secured N231.8 billion through a public offer, bringing total capital raised to N242 billion, in line with the CBN’s minimum capital requirements for pension operators.

Odu’a Investment had in February 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. The recent acquisition is a key step toward achieving these goals while deepening its footprint in Nigeria’s resilient pension sector.

The partnership is expected to enhance operational capabilities, broaden market access, and accelerate value creation for retirement contributors, further solidifying FCMB Pensions as a leading player in Nigeria’s financial services landscape.