SEC weekly NAV table · 48 registered funds

Money Market Fund Yields in Nigeria This Month

Every SEC-registered money market fund ranked by the yield its manager reported for the week ended 14 August 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 14 Aug 2026 · imported 4 Sept 2026 · four-week change vs 17 Jul 2026

Highest reported yield

23.69%

FCMBAM Money Market Fund

NAV-weighted average

16.01%

simple average 16.98% · median 16.77%

Biggest fund

₦3.00trn

Stanbic IBTC Money Market Fund · 15.36%

All 48 funds

₦6.32trn

855,343 unitholders

Yields at the funds people ask about

Reported yield for the week ended 14 Aug 2026, rank out of 48, and the change over four weeks.

Stanbic IBTC Money Market Fund

Stanbic IBTC Asset Mgt. Limited

15.36%

Rank 41/48unchanged₦3.00trn

ARM Money Market Fund

ARM Investment Managers Limited

16.74%

Rank 25/48−0.14 pp₦444.7bn

Guaranty Trust Money Market Fund

Guaranty Trust Fund Managers

16.95%

Rank 22/48−0.28 pp₦586.8bn

Zedcrest Money Market Fund

Zedcrest Investment Managers Limited

16.81%

Rank 23/48−1.58 pp₦25bn

Meristem Money Market Fund

Meristem Wealth Management Limited

17.34%

Rank 19/48−0.39 pp₦129.8bn

AIICO Money Market Fund

AIICO Capital Ltd

14.83%

Rank 45/48−2.23 pp₦47.2bn

Chapel Hill Denham Money Market Fund

Chapel Hill Denham Mgt. Limited

17.61%

Rank 16/48+0.41 pp₦45bn

United Capital Money Market Fund

United Capital Asset Mgt. Ltd

15.80%

Rank 35/48+0.69 pp₦259.5bn

Zenith Money Market Fund

Zenith Asset Management Ltd

15.98%

Rank 34/48+0.23 pp₦166.9bn

Cordros Money Market Fund

Cordros Asset Management Limited

16.06%

Rank 33/48+0.33 pp₦46.8bn

Coronation Money Market Fund

Coronation Asset Management Limited

19.64%

Rank 4/48−0.10 pp₦96.8bn

FCMBAM Money Market Fund

FCMB Asset Management Limited

23.69%

Rank 1/48+7.71 pp₦72.3bn

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 48 money market funds ranked by yield

Week ended 14 August 2026. “pp” is the change in percentage points since the SEC table for the week ended 17 Jul 2026. NAV is the fund's net asset value.

#	Fund	Manager	Yield	4-week change	NAV	Unitholders
1	FCMBAM Money Market Fund	FCMB Asset Management Limited	23.69%	+7.71 pp	₦72.3bn	4,408
2	DLM Money Market Fund	DLM Asset Management Limited	20.50%	−0.35 pp	₦2.4bn	320
3	RT Briscoe Savings & Investment Fund	DLM Asset Management Limited	20.02%	+0.21 pp	₦503.4m	64
4	Coronation Money Market Fund	Coronation Asset Management Limited	19.64%	−0.10 pp	₦96.8bn	20,749
5	Alpha10 Money Market Fund	Alpha10 Fund Management Limited	19.17%	+0.31 pp	₦2.4bn	267
6	Greenwich Plus Money Market Fund	Greenwich Asset Management Limited	19.08%	+0.20 pp	₦15.4bn	1,143
7	Myrtle Nest Money Market Fund	Myrtle Asset Management Limited	19.08%	−0.21 pp	₦713.7m	382
8	STL Money Market Fund	STL Asset Management Limited	18.90%	+0.02 pp	₦19bn	2,037
9	Trustbanc Money Market Fund	Trustbanc Asset Management Limited	18.79%	−0.01 pp	₦19.3bn	1,068
10	Emerging Africa Money Market Fund	Emerging Africa Asset Management Limited	18.61%	+1.37 pp	₦9.2bn	1,345
11	CardinalStone Money Market Fund	CardinalStone Asset Mgt. Limited	18.41%	+1.07 pp	₦37.8bn	2,499
12	Page Money Market Fund	Page Asset Management Limited	18.41%	−0.08 pp	₦2.2bn	314
13	Apel Wealth Money Market Fund	Apel Wealth Management Limited	18.28%	+0.16 pp	₦1.7bn	196
14	Coral Money Market Fund	FSDH Asset Management Ltd	18.04%	+0.54 pp	₦107.9bn	6,569
15	First Ally Money Market Fund	First Ally Asset Management Limited	17.89%	+0.35 pp	₦11bn	2,734
16	Chapel Hill Denham Money Market Fund	Chapel Hill Denham Mgt. Limited	17.61%	+0.41 pp	₦45bn	18,503
17	PACAM Money Market Fund	PAC Asset Management Limited	17.38%	+0.66 pp	₦3.2bn	1,060
18	Norrenberger Money Market Fund	Norrenberger Investment & Capital Mgt. Ltd.	17.37%	−0.64 pp	₦49.1bn	7,143
19	Meristem Money Market Fund	Meristem Wealth Management Limited	17.34%	−0.39 pp	₦129.8bn	12,374
20	Parthian Money Market Fund	Parthian Capital Limited	17.01%	−0.07 pp	₦2.5bn	3,801
21	AVA GAM Money Market Fund	AVA Global Asset Managers Limited	17.00%	−0.20 pp	₦2.4bn	441
22	Guaranty Trust Money Market Fund	Guaranty Trust Fund Managers	16.95%	−0.28 pp	₦586.8bn	61,073
23	Zedcrest Money Market Fund	Zedcrest Investment Managers Limited	16.81%	−1.58 pp	₦25bn	9,682
24	Radix Money Market Fund	Radix Capital Partners Limited	16.79%	—	₦328.2m	55
25	ARM Money Market Fund	ARM Investment Managers Limited	16.74%	−0.14 pp	₦444.7bn	88,738
26	Mango Naira Money Market Fund	Mango Asset Management Limited	16.66%	+0.30 pp	₦7bn	1,210
27	SCM Capital Money Market Fund	SCM Capital Limited	16.63%	+0.66 pp	₦3bn	580
28	GTI Money Market Fund	GTI Asset Management & Trust Limited	16.46%	−0.44 pp	₦226.2m	166
29	Anchoria Money Market Fund	Anchoria Asset Management Limited	16.45%	−0.36 pp	₦4.1bn	2,722
30	GDL Money Market Fund	Growth & Development Asset Management Limited	16.38%	+0.05 pp	₦2.2bn	592
31	Vetiva Money Market Fund	Vetiva Fund Managers	16.31%	−0.06 pp	₦12.6bn	753
32	RMBN Money Market Fund	RMB Nigeria Asset Management Ltd.	16.09%	unchanged	₦25.3bn	168
33	Cordros Money Market Fund	Cordros Asset Management Limited	16.06%	+0.33 pp	₦46.8bn	6,131
34	Zenith Money Market Fund	Zenith Asset Management Ltd	15.98%	+0.23 pp	₦166.9bn	9,277
35	United Capital Money Market Fund	United Capital Asset Mgt. Ltd	15.80%	+0.69 pp	₦259.5bn	100,000
36	ValuAlliance Money Market Fund	ValuAlliance Asset Management Limited	15.67%	+0.73 pp	₦3.7bn	173
37	Guaranty Trust Investment Fund 724	Guaranty Trust Fund Managers	15.49%	+0.64 pp	₦6.1bn	24,345
38	First Asset Money Market Fund	First Asset Management Limited	15.45%	+0.18 pp	₦747.9bn	44,202
39	Comercio Partners Money Market Fund	Comercio Partners Asset Management Limited	15.40%	+0.40 pp	₦3.5bn	863
40	EDC Money Market Fund Class A	EDC Fund Management Limited	15.37%	+0.08 pp	₦89.5bn	5,087
41	Stanbic IBTC Money Market Fund	Stanbic IBTC Asset Mgt. Limited	15.36%	unchanged	₦3.00trn	362,532
42	AXA Mansard Money Market Fund	AXA Mansard Investments Limited	15.31%	−0.34 pp	₦181.3bn	41,893
43	EDC Money Market Fund Class B	EDC Fund Management Limited	15.22%	−0.07 pp	₦9.8bn	50
44	FSL Money Market Fund	FSL Asset Management Limited	15.00%	−1.05 pp	₦6.2bn	1,041
45	AIICO Money Market Fund	AIICO Capital Ltd	14.83%	−2.23 pp	₦47.2bn	5,480
46	Afrinvest Plutus Fund	Afrinvest Asset Mgt Ltd.	14.78%	+0.18 pp	₦6.5bn	936
47	Nova Prime Money Market Fund	Novambl Asset Management	14.49%	−0.27 pp	₦217.4m	145
48	Fundvine Money Market Fund	Fundvine Berkshire Asset Management Limited	10.50%	unchanged	₦63.7m	32

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	₦3.00trn	47.5%	362,532	15.36%	41/48
2	First Asset Money Market Fund	₦747.9bn	11.8%	44,202	15.45%	38/48
3	Guaranty Trust Money Market Fund	₦586.8bn	9.3%	61,073	16.95%	22/48
4	ARM Money Market Fund	₦444.7bn	7.0%	88,738	16.74%	25/48
5	United Capital Money Market Fund	₦259.5bn	4.1%	100,000	15.80%	35/48
6	AXA Mansard Money Market Fund	₦181.3bn	2.9%	41,893	15.31%	42/48
7	Zenith Money Market Fund	₦166.9bn	2.6%	9,277	15.98%	34/48
8	Meristem Money Market Fund	₦129.8bn	2.1%	12,374	17.34%	19/48
9	Coral Money Market Fund	₦107.9bn	1.7%	6,569	18.04%	14/48
10	Coronation Money Market Fund	₦96.8bn	1.5%	20,749	19.64%	4/48

What ₦1,000,000 earns at this month's yields

Gross income from the same compounding engine as the money market fund calculator, then the 10% withholding tax fund managers deduct from distributions. Yields move, so treat these as this month's snapshot rather than a promise.

Scenario	Yield	1 month, gross	1 month, net of WHT	12 months, gross	12 months, net of WHT
Highest — FCMBAM Money Market Fund	23.69%	₦17,875	₦16,088	₦236,900	₦213,210
NAV-weighted average	16.01%	₦12,451	₦11,206	₦160,076	₦144,068
Biggest fund — Stanbic IBTC Money Market Fund	15.36%	₦11,978	₦10,781	₦153,600	₦138,240

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 this week's 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 14 Aug 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 this month?

In the SEC's table for the week ended 14 August 2026, the highest reported yield among all 48 registered money market funds was 23.69% from FCMBAM Money Market Fund (FCMB Asset Management Limited). The top three were FCMBAM Money Market Fund (23.69%), DLM Money Market Fund (20.50%), RT Briscoe Savings & Investment Fund (20.02%). The lowest was 10.50% (Fundvine Money Market Fund).

What is the average money market fund yield in Nigeria?

The simple average across the 48 funds is 16.98% and the median is 16.77%. Weighted by fund size, the average naira invested in a Nigerian money market fund is earning about 16.01%, because the very largest funds report yields below the mid-table. Total money market fund assets stood at ₦6.32trn held by roughly 855,343 unitholders.

What is the Stanbic IBTC Money Market Fund yield?

Stanbic IBTC Money Market Fund reported 15.36% for the week ended 14 Aug 2026, rank 41 of 48 by yield. It is by far the largest money market fund in Nigeria at ₦3.00trn in net assets and 362,532 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 16.01%?

At the NAV-weighted average of 16.01%, ₦1,000,000 earns about ₦12,451 gross in one month and ₦160,076 gross over a year with reinvested returns. Fund managers deduct 10% withholding tax from distributions, so the net figures are about ₦11,206 and ₦144,068. At the highest yield of 23.69% the one-year net figure rises to about ₦213,210.

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 14 August 2026 and was last imported on 4 Sept 2026. The four-week change compares it with the SEC table for the week ended 17 Jul 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.