Key Takeaways
- • Nigeria's collective investment scheme (CIS) assets rose to N9.885 trillion as of October 9, 2026, up N43.76 billion (0.44%) week-on-week, according to the SEC's weekly NAV report.
- • Money market funds held N6.718 trillion, or 67.96% of total net asset value, and drove the latest weekly increase with a N45.81 billion (0.69%) gain.
- • Money market and dollar funds together accounted for about N8.47 trillion, or 85.66% of total CIS assets, while equity and bond funds together represented less than 5%.
- • Industry NAV has grown 3.62% (N345.63 billion) since August 21 across seven consecutive weekly gains, though the source cautions that NAV changes do not equal fresh inflows.
- • Stanbic IBTC Money Market Fund remained the largest fund at N3.126 trillion, and seven of the ten largest funds are money market products.
Summary
Nigeria's collective investment scheme assets have risen to N9.885 trillion, approaching the N10 trillion mark, according to the Securities and Exchange Commission's (SEC) weekly NAV report as of October 9, 2026. Industry assets increased by N43.76 billion, or 0.44%, from N9.841 trillion the preceding week. Including N33.36 billion held in exchange-traded funds, which are reported separately, the combined value reached approximately N9.918 trillion.
Money market funds remain the dominant segment. Their NAV rose by N45.81 billion, or 0.69%, to N6.718 trillion, accounting for 67.96% of total net asset value. Dollar funds held N1.750 trillion, or 17.70% of total assets. Real estate investment trusts stood at N520.31 billion, equity-based funds at N239.40 billion, bond and fixed-income funds at N230.92 billion, balanced funds at N199.08 billion, Shariah-compliant funds at N151.99 billion, specialised funds at N54.71 billion and ethical funds at N20.57 billion. Four categories posted gains during the week and five declined. Equity-based funds fell 1.59% and the source links the decline to a fall in the NGX All-Share Index, though the data does not separate market losses from redemptions.
Over a longer window, industry NAV rose from N9.539 trillion on August 21 to N9.885 trillion, a gain of N345.63 billion or 3.62%, across seven consecutive week-on-week increases. The largest weekly gain, about N129.71 billion, was recorded in the week ending October 2. Money market fund NAV grew 5.52% from N6.366 trillion on August 14, while dollar fund NAV fell 2.12% over the same period. Balanced funds rose 27.6%, from N156.06 billion to N199.08 billion.
Stanbic IBTC Money Market Fund remained the largest collective investment fund with NAV of N3.126 trillion, according to SEC fund-level rankings dated October 2. Stanbic IBTC Dollar Fund ranked second at N791.50 billion, followed by First Asset Money Market Fund at N772.15 billion, Guaranty Trust Money Market Fund at N676.97 billion and ARM Money Market Fund at N462.05 billion. Seven of the ten largest funds are money market products. The fund-level sheet lists 1,651,474 unitholder records, which the source notes do not necessarily represent unique investors.
Nairametrics cautions that NAV changes reflect subscriptions, redemptions, investment income and valuation movements, so the N45.81 billion weekly money market increase does not necessarily represent fresh subscriptions. Dollar fund assets, reported in naira, are also sensitive to exchange-rate movements. Overall, the data points to an expanding collective investment industry that remains heavily concentrated in money market and dollar products, with equity and bond funds together below 5% of assets.
Money market funds remain the dominant segment. Their NAV rose by N45.81 billion, or 0.69%, to N6.718 trillion, accounting for 67.96% of total net asset value. Dollar funds held N1.750 trillion, or 17.70% of total assets. Real estate investment trusts stood at N520.31 billion, equity-based funds at N239.40 billion, bond and fixed-income funds at N230.92 billion, balanced funds at N199.08 billion, Shariah-compliant funds at N151.99 billion, specialised funds at N54.71 billion and ethical funds at N20.57 billion. Four categories posted gains during the week and five declined. Equity-based funds fell 1.59% and the source links the decline to a fall in the NGX All-Share Index, though the data does not separate market losses from redemptions.
Over a longer window, industry NAV rose from N9.539 trillion on August 21 to N9.885 trillion, a gain of N345.63 billion or 3.62%, across seven consecutive week-on-week increases. The largest weekly gain, about N129.71 billion, was recorded in the week ending October 2. Money market fund NAV grew 5.52% from N6.366 trillion on August 14, while dollar fund NAV fell 2.12% over the same period. Balanced funds rose 27.6%, from N156.06 billion to N199.08 billion.
Stanbic IBTC Money Market Fund remained the largest collective investment fund with NAV of N3.126 trillion, according to SEC fund-level rankings dated October 2. Stanbic IBTC Dollar Fund ranked second at N791.50 billion, followed by First Asset Money Market Fund at N772.15 billion, Guaranty Trust Money Market Fund at N676.97 billion and ARM Money Market Fund at N462.05 billion. Seven of the ten largest funds are money market products. The fund-level sheet lists 1,651,474 unitholder records, which the source notes do not necessarily represent unique investors.
Nairametrics cautions that NAV changes reflect subscriptions, redemptions, investment income and valuation movements, so the N45.81 billion weekly money market increase does not necessarily represent fresh subscriptions. Dollar fund assets, reported in naira, are also sensitive to exchange-rate movements. Overall, the data points to an expanding collective investment industry that remains heavily concentrated in money market and dollar products, with equity and bond funds together below 5% of assets.
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