SEC weekly NAV table · 49 registered funds

Money Market Fund Yields in Nigeria

Every SEC-registered money market fund ranked by the yield its manager reported for the week ended 9 October 2026, the change over four weeks, the biggest funds by assets, and what ₦1,000,000 earns after withholding tax.

Source: SEC Nigeria, Net Asset Value and Unit Price as at 9 Oct 2026 · imported 22 Oct 2026 · four-week change vs 11 Sept 2026

The latest SEC table imported here is 24 days old. The SEC publishes weekly, so a newer table may already be on the SEC site; this page is refreshed when the next workbook is imported.

Highest reported yield

21.31%

First Ally Money Market Fund

NAV-weighted average

16.85%

simple average 17.18% · median 16.91%

Biggest fund

₦3.14trn

Stanbic IBTC Money Market Fund · 16.73%

All 49 funds

₦6.72trn

927,990 unitholders

Yields at the funds people ask about

Reported yield for the week ended 9 Oct 2026, rank out of 49, and the change over four weeks.

Stanbic IBTC Money Market Fund

Stanbic IBTC Asset Mgt. Limited

16.73%

Rank 30/49+1.32 pp₦3.14trnCalculate at 16.73% →

ARM Money Market Fund

ARM Investment Managers Limited

16.72%

Rank 31/49−0.62 pp₦460.9bnCalculate at 16.72% →

Guaranty Trust Money Market Fund

Guaranty Trust Fund Managers

16.88%

Rank 26/49−1.14 pp₦687.6bnCalculate at 16.88% →

Zedcrest Money Market Fund

Zedcrest Investment Managers Limited

15.56%

Rank 45/49−5.96 pp₦25.8bnCalculate at 15.56% →

Meristem Money Market Fund

Meristem Wealth Management Limited

17.06%

Rank 24/49−1.56 pp₦131.1bnCalculate at 17.06% →

AIICO Money Market Fund

AIICO Capital Ltd

16.91%

Rank 25/49−0.59 pp₦47.4bnCalculate at 16.91% →

Chapel Hill Denham Money Market Fund

Chapel Hill Denham Mgt. Limited

18.53%

Rank 12/49−0.20 pp₦51.6bnCalculate at 18.53% →

United Capital Money Market Fund

United Capital Asset Mgt. Ltd

17.31%

Rank 22/49+1.16 pp₦276.7bnCalculate at 17.31% →

Zenith Money Market Fund

Zenith Asset Management Ltd

15.88%

Rank 40/49−0.65 pp₦169.9bnCalculate at 15.88% →

Cordros Money Market Fund

Cordros Asset Management Limited

16.17%

Rank 37/49−0.27 pp₦48.6bnCalculate at 16.17% →

Coronation Money Market Fund

Coronation Asset Management Limited

20.01%

Rank 2/49−0.99 pp₦121.5bnCalculate at 20.01% →

FCMBAM Money Market Fund

FCMB Asset Management Limited

15.98%

Rank 39/49−0.92 pp₦81.2bnCalculate at 15.98% →

Looking for one manager's whole range? See the Stanbic IBTC mutual funds calculator, ARM, United Capital or Guaranty Trust (GTBank) mutual funds calculator, each covering every SEC-listed fund from that manager.

All 49 money market funds ranked by yield

Week ended 9 October 2026. “pp” is the change in percentage points since the SEC table for the week ended 11 Sept 2026. NAV is the fund's net asset value.

#	Fund	Manager	Yield	4-week change	NAV	Unitholders	Calculate
1	First Ally Money Market Fund	First Ally Asset Management Limited	21.31%	+3.32 pp	₦16.6bn	3,111	Calculate →
2	Coronation Money Market Fund	Coronation Asset Management Limited	20.01%	−0.99 pp	₦121.5bn	23,915	Calculate →
3	DLM Money Market Fund	DLM Asset Management Limited	19.61%	−0.29 pp	₦3.8bn	482	Calculate →
4	Samtl Money Market Fund	Samtl Fund Managers Limited	19.41%	—	₦1.8bn	280	Calculate →
5	Page Money Market Fund	Page Asset Management Limited	19.24%	+0.30 pp	₦2.5bn	341	Calculate →
6	Comercio Partners Money Market Fund	Comercio Partners Asset Management Limited	19.12%	−0.11 pp	₦3.7bn	943	Calculate →
7	Greenwich Plus Money Market Fund	Greenwich Asset Management Limited	19.07%	−0.11 pp	₦16.9bn	1,176	Calculate →
8	RT Briscoe Savings & Investment Fund	DLM Asset Management Limited	19.01%	−1.33 pp	₦788.9m	74	Calculate →
9	Myrtle Nest Money Market Fund	Myrtle Asset Management Limited	18.81%	−1.59 pp	₦854.9m	452	Calculate →
10	CardinalStone Money Market Fund	CardinalStone Asset Mgt. Limited	18.80%	−0.49 pp	₦45bn	2,963	Calculate →
11	STL Money Market Fund	STL Asset Management Limited	18.67%	−0.74 pp	₦22.5bn	2,297	Calculate →
12	Chapel Hill Denham Money Market Fund	Chapel Hill Denham Mgt. Limited	18.53%	−0.20 pp	₦51.6bn	21,207	Calculate →
13	Apel Wealth Money Market Fund	Apel Wealth Management Limited	18.42%	+0.45 pp	₦2.1bn	235	Calculate →
14	Trustbanc Money Market Fund	Trustbanc Asset Management Limited	18.34%	−0.26 pp	₦23.8bn	1,233	Calculate →
15	Coral Money Market Fund	FSDH Asset Management Ltd	18.11%	−0.35 pp	₦121.2bn	6,823	Calculate →
16	Anchoria Money Market Fund	Anchoria Asset Management Limited	17.90%	−0.58 pp	₦5.7bn	3,089	Calculate →
17	Norrenberger Money Market Fund	Norrenberger Investment & Capital Mgt. Ltd.	17.89%	+0.23 pp	₦51.6bn	7,618	Calculate →
18	Parthian Money Market Fund	Parthian Capital Limited	17.73%	+0.28 pp	₦3.7bn	4,485	Calculate →
19	Emerging Africa Money Market Fund	Emerging Africa Asset Management Limited	17.57%	−0.15 pp	₦10.6bn	1,400	Calculate →
20	AVA GAM Money Market Fund	AVA Global Asset Managers Limited	17.50%	+0.50 pp	₦3.4bn	503	Calculate →
21	Vetiva Money Market Fund	Vetiva Fund Managers	17.44%	−1.28 pp	₦12.8bn	797	Calculate →
22	United Capital Money Market Fund	United Capital Asset Mgt. Ltd	17.31%	+1.16 pp	₦276.7bn	100,000	Calculate →
23	Alpha10 Money Market Fund	Alpha10 Fund Management Limited	17.07%	−2.16 pp	₦3.2bn	331	Calculate →
24	Meristem Money Market Fund	Meristem Wealth Management Limited	17.06%	−1.56 pp	₦131.1bn	12,361	Calculate →
25	AIICO Money Market Fund	AIICO Capital Ltd	16.91%	−0.59 pp	₦47.4bn	5,821	Calculate →
26	Guaranty Trust Money Market Fund	Guaranty Trust Fund Managers	16.88%	−1.14 pp	₦687.6bn	77,860	Calculate →
27	SCM Capital Money Market Fund	SCM Capital Limited	16.88%	−1.03 pp	₦4.1bn	3,112	Calculate →
28	First Asset Money Market Fund	First Asset Management Limited	16.83%	+0.72 pp	₦775.6bn	46,845	Calculate →
29	GTI Money Market Fund	GTI Asset Management & Trust Limited	16.80%	+0.79 pp	₦184.4m	161	Calculate →
30	Stanbic IBTC Money Market Fund	Stanbic IBTC Asset Mgt. Limited	16.73%	+1.32 pp	₦3.14trn	390,143	Calculate →
31	ARM Money Market Fund	ARM Investment Managers Limited	16.72%	−0.62 pp	₦460.9bn	91,328	Calculate →
32	RMBN Money Market Fund	RMB Nigeria Asset Management Ltd.	16.72%	−1.00 pp	₦31.3bn	169	Calculate →
33	ValuAlliance Money Market Fund	ValuAlliance Asset Management Limited	16.48%	+0.05 pp	₦3.7bn	178	Calculate →
34	GDL Money Market Fund	Growth & Development Asset Management Limited	16.38%	−0.13 pp	₦2.3bn	599	Calculate →
35	Radix Money Market Fund	Radix Capital Partners Limited	16.28%	−0.88 pp	₦1.8bn	62	Calculate →
36	FSL Money Market Fund	FSL Asset Management Limited	16.21%	+1.40 pp	₦5.4bn	1,166	Calculate →
37	Cordros Money Market Fund	Cordros Asset Management Limited	16.17%	−0.27 pp	₦48.6bn	6,182	Calculate →
38	Mango Naira Money Market Fund	Mango Asset Management Limited	16.13%	−0.74 pp	₦7.3bn	1,207	Calculate →
39	FCMBAM Money Market Fund	FCMB Asset Management Limited	15.98%	−0.92 pp	₦81.2bn	4,874	Calculate →
40	Zenith Money Market Fund	Zenith Asset Management Ltd	15.88%	−0.65 pp	₦169.9bn	9,800	Calculate →
41	EDC Money Market Fund Class A	EDC Fund Management Limited	15.85%	−0.35 pp	₦83.8bn	5,314	Calculate →
42	EDC Money Market Fund Class B	EDC Fund Management Limited	15.63%	−0.49 pp	₦9.3bn	49	Calculate →
43	Nova Prime Money Market Fund	Novambl Asset Management	15.60%	+0.17 pp	₦306.2m	161	Calculate →
44	Afrinvest Plutus Fund	Afrinvest Asset Mgt Ltd.	15.58%	−0.56 pp	₦6.9bn	926	Calculate →
45	Zedcrest Money Market Fund	Zedcrest Investment Managers Limited	15.56%	−5.96 pp	₦25.8bn	11,485	Calculate →
46	PACAM Money Market Fund	PAC Asset Management Limited	15.18%	+14.41 pp	₦3.9bn	1,122	Calculate →
47	AXA Mansard Money Market Fund	AXA Mansard Investments Limited	15.07%	−1.17 pp	₦178.5bn	42,600	Calculate →
48	Guaranty Trust Investment Fund 724	Guaranty Trust Fund Managers	14.86%	+2.00 pp	₦7.3bn	30,668	Calculate →
49	Fundvine Money Market Fund	Fundvine Berkshire Asset Management Limited	10.50%	unchanged	₦64.1m	42	Calculate →

The 10 biggest money market funds by assets

Size is a different lens from yield. The largest funds hold most of the money and most of the unitholders, and they sit mid-table on yield.

#	Fund	NAV	Share of all MMF assets	Unitholders	Yield	Yield rank
1	Stanbic IBTC Money Market Fund	₦3.14trn	46.8%	390,143	16.73%	30/49
2	First Asset Money Market Fund	₦775.6bn	11.5%	46,845	16.83%	28/49
3	Guaranty Trust Money Market Fund	₦687.6bn	10.2%	77,860	16.88%	26/49
4	ARM Money Market Fund	₦460.9bn	6.9%	91,328	16.72%	31/49
5	United Capital Money Market Fund	₦276.7bn	4.1%	100,000	17.31%	22/49
6	AXA Mansard Money Market Fund	₦178.5bn	2.7%	42,600	15.07%	47/49
7	Zenith Money Market Fund	₦169.9bn	2.5%	9,800	15.88%	40/49
8	Meristem Money Market Fund	₦131.1bn	2.0%	12,361	17.06%	24/49
9	Coronation Money Market Fund	₦121.5bn	1.8%	23,915	20.01%	2/49
10	Coral Money Market Fund	₦121.2bn	1.8%	6,823	18.11%	15/49

What ₦1,000,000 earns at the week ended 9 Oct 2026 yields

Gross income from the same compounding engine as the money market fund calculator, then the 10% withholding tax CheckInvestNg assumes on distributions. Yields move, so treat these as a snapshot of that week rather than a promise. CheckInvestNg applies 10% withholding tax to money market fund income as an assumption: whether it applies under the Nigeria Tax Act 2025 is an unresolved interpretation question (s.63(4) and s.162(1)(b)).

Scenario	Yield	1 month, gross	1 month, net of WHT	12 months, gross	12 months, net of WHT
Highest — First Ally Money Market Fund	21.31%	₦16,229	₦14,606	₦213,100	₦191,790
NAV-weighted average	16.85%	₦13,059	₦11,753	₦168,471	₦151,624
Biggest fund — Stanbic IBTC Money Market Fund	16.73%	₦12,975	₦11,677	₦167,300	₦150,570

Model your own amount and duration

How to read this table

The yield is the figure each fund manager reports to the SEC in the weekly valuation workbook, annualised. It reflects what the fund's portfolio of treasury bills, commercial paper and bank placements is earning now, net of the manager's fees, and it changes as those instruments roll over. A fund at the top this month can be mid-table next month, so the four-week change column is worth as much attention as the rank.

Two things the ranking does not tell you. First, safety: every fund here is SEC-regulated and holds low-risk paper, but none is a bank deposit and none is NDIC-insured; the fund manager's track record matters, and the assets column shows which managers the market trusts with the most money. Second, access: minimum investments, minimum holding periods and redemption terms differ by fund and are set out in each fund's prospectus, not in the SEC table.

For the alternatives, see the latest treasury bill rates, which most of these funds hold, the tax-free FGN Savings Bond, and bank fixed deposit rates.

Note: the money market fund calculator uses a short list of indicative fund yields last reviewed 2026-07-18. Where they differ from this table, the SEC figure above is the more recent and the authoritative one.

Risk profile — Money Market Fund

A SEC-regulated collective investment scheme holding short-dated instruments such as Treasury Bills, commercial paper and bank placements. It is not government-guaranteed and not NDIC-insured: the yield is variable, not promised, and the fund carries the credit risk of the commercial paper and bank deposits it holds. Investors also face inflation and reinvestment risk.

Risk dimensions for Money Market Fund, with an assessed level and explanation for each.
Risk type	Assessment	Why
Credit / default risk	Low	Diversified short-dated holdings, but commercial paper and bank placements are not risk-free.
Inflation risk	Present	Yields have at times run below headline CPI, producing a negative real return.
Interest-rate / market-price risk	Low	Very short duration, so the unit price is stable — but the quoted yield floats down when rates fall.
Liquidity risk	Low	Typically redeemable within 24–72 hours, though the fund may impose notice periods.
Reinvestment risk	Present	The advertised yield is not fixed — it resets continuously as underlying instruments mature.

These are CheckInvestNg’s own qualitative assessments for retail investors, not credit ratings from a rating agency and not personalised investment advice. Risk levels can change with market conditions.

Original publication: SEC Nigeria — Weekly Net Asset Value for Collective Investment Schemes (workbook for 9 Oct 2026). CheckInvestNg is not affiliated with the SEC or any fund manager named above.

Frequently asked questions

Which money market fund has the highest yield in Nigeria?

In the SEC's table for the week ended 9 October 2026, the highest reported yield among all 49 registered money market funds was 21.31% from First Ally Money Market Fund (First Ally Asset Management Limited). The top three were First Ally Money Market Fund (21.31%), Coronation Money Market Fund (20.01%), DLM Money Market Fund (19.61%). The lowest was 10.50% (Fundvine Money Market Fund).

What is the average money market fund yield in Nigeria?

The simple average across the 49 funds is 17.18% and the median is 16.91%. Weighted by fund size, the average naira invested in a Nigerian money market fund is earning about 16.85%, because the very largest funds report yields below the mid-table. Total money market fund assets stood at ₦6.72trn held by roughly 927,990 unitholders.

What is the Stanbic IBTC Money Market Fund yield?

Stanbic IBTC Money Market Fund reported 16.73% for the week ended 9 Oct 2026, rank 30 of 49 by yield. It is by far the largest money market fund in Nigeria at ₦3.14trn in net assets and 390,143 unitholders, which is roughly 47% of all money market fund assets in the country.

Is a money market fund yield guaranteed?

No. The yield is what the fund earned on its portfolio of treasury bills, commercial paper and bank placements, annualised, and it moves with market rates. A fund manager can and does report a different figure the following week. Money market funds are SEC-regulated and hold low-risk instruments, but they are not bank deposits and are not covered by NDIC insurance.

How much does ₦1,000,000 earn in a money market fund at 16.85%?

At the NAV-weighted average of 16.85%, ₦1,000,000 earns about ₦13,059 gross in one month and ₦168,471 gross over a year with reinvested returns. After the 10% withholding tax CheckInvestNg assumes on distributions (whether it applies to money market funds under the Nigeria Tax Act 2025 is an unresolved interpretation question), the net figures are about ₦11,753 and ₦151,624. At the highest yield of 21.31% the one-year net figure rises to about ₦191,790.

Where do these yields come from, and how often are they updated?

Every week the Securities and Exchange Commission publishes the net asset value, unit price and yield of every registered collective investment scheme, as reported by each fund manager. This page is generated from the money market section of that workbook for the week ended 9 October 2026 and was last imported on 22 Oct 2026. The four-week change compares it with the SEC table for the week ended 11 Sept 2026.

Why do the biggest funds report lower yields than small ones?

Large funds must keep more of their portfolio in the most liquid instruments to meet daily redemptions, and they cannot move a few trillion naira into the best-priced commercial paper without moving the price. Small funds can concentrate in higher-yielding paper. A higher yield is not free: check the fund manager, the size and history of the fund, and the minimum holding period before chasing the top of the table.