Odu’a conglomerate, the Odu’a Investment Company Limited (OICL) has added another feather to its cap with Tuesday’s announcement of the completion of its acquisition of a 10 per cent minority equity stake in FCMB Pensions Limited, a subsidiary of FCMB Group Plc.

Making this announcement at the Corporate Headquarters of the conglomerate, Cocoa House, Ibadan through a statement was Mr. Victor Ayetoro, the OICL Head of Branding and Communication.

Ayetoro in the statement explained that “the acquisition followed the receipt of the required regulatory approvals from the National Pension Commission (PenCom) and the Central Bank of Nigeria (CBN), while the Securities and Exchange Commission (SEC) has also been duly notified”.

He said the investment transaction represents a strategic investment by Odu’a in Nigeria’s growing pension industry, which he described as a resilient and steadily expanding segment of the country’s financial services sector.

According to him, “the transaction strengthens FCMB Pensions’ shareholder base by bringing together two established institutions with complementary strengths and a shared commitment to long-term growth and value creation”.

OICL Group Chairman, Otunba Bimbo Ashiru said “the investment aligns with the company’s strategy of partnering with strong institutions operating in key sectors of the economy”, adding that, “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 mobilizing 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”, the Chairman further stated.

Speaking in the same vein, the Group Managing Director of OICL, Mr. Abdulrahman Yinusa expressed confidence in the partnership and the long-term prospects of the pension firm, saying, “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”, the GMD added.

OICL is an investment holding company jointly owned by the governments of the six South West states of Nigeria, comprising Lagos, Oyo, Ogun, Ondo, Osun and Ekiti and it manages a diversified portfolio spanning real estate, financial services, hospitality, agriculture and industrial investments.

FCMB Pensions Limited is a licensed pension fund administrator regulated by the National Pension Commission and it provides retirement savings administration and pension management services to individuals and institutions across Nigeria with more than ₦1.1 trillion in assets under management as of December 2025