Meet CEOs of the best performing Money Market Funds in Q1 2026 

Nigeria’s money market mutual fund industry sustained its strong growth momentum in the first quarter of 2026, as investors continued to channel funds into low-risk, high-yield investment products amid elevated interest rates and lingering macroeconomic uncertainty.

Data as of March 2026 shows that the total Net Asset Value (NAV) of all money market mutual funds climbed to N5.45 trillion, spread across 46 funds with a combined 702,711 unitholders.

The category also delivered an average year-to-date (YTD) yield of 16.45%, reinforcing its position as one of the most attractive fixed-income investment vehicles in Nigeria in Q1 2026.

Within the broader industry, the top 10 money market funds accounted for N145.42 billion in NAV, with combined unitholders of 31,830 and an average YTD yield of 18.54%, significantly outperforming the industry average.

Money market fund yields generally track Nigerian Treasury bill (T-bill) rates because T-bills are the main risk-free benchmark in the market. Other short-term instruments like commercial papers and bank placements are usually priced slightly above T-bills, depending on credit risk and market conditions.

However, the size of this extra return varies across fund managers because of differences in portfolio strategy, credit appetite, liquidity management, and access to quality instruments. More active managers are often able to generate slightly higher yields by selecting stronger commercial papers and positioning their portfolios in better-paying short-term assets.

Commercial papers offer higher yield but greater credit risk while T-bills provide safety and liquidity stability. The stop rate for the last T-bill auction in March 2026 was 15.95% for the 91-day tenor.

Behind the strong returns are fund asset managers who have spent years building expertise across investment management, banking, treasury operations, portfolio strategy, and capital markets leadership.

What the data is saying

The performance rankings as of March 2026 reflected strong investor appetite for money market funds, particularly among firms delivering competitive double-digit returns.

• Several medium-sized and smaller funds also outperformed larger peers, showing that active portfolio allocation and yield management are becoming key differentiators in the market. Smaller money market funds outperform larger peers in high-rate environments
• From long-serving industry veterans to newer executives driving operational transformation, these CEOs and managing directors are shaping the competitive landscape of Nigeria’s fast-growing asset management industry.
• The executives leading the top-performing fund management firms bring extensive experience across investment banking, treasury management, portfolio strategy, wealth management, and capital market operations.

Top MDs/CEOs of money market mutual fund managers in Nigeria as of Q1 2026 

Omololu Ajediran – SCM Capital (YTD Yield: 17.72%)

SCM Capital Limited completed the top 10 rankings through the SCM Capital Money Market Fund, which delivered a 17.72% YTD yield.

The fund recorded a NAV of N1.87 billion with 345 unitholders.

The company is led by Omololu Ajediran, a financial services executive with more than 20 years of experience in investment banking, portfolio and asset management, and capital markets, overseeing various investment vehicles including mutual funds and institutional portfolios.

His consistency over the years has helped maintain competitive yields, even as newer entrants disrupt the market. His long tenure of more than 10 years highlights stability and institutional knowledge.

His skill set focuses on strategic asset allocation, cost re-engineering, and navigating macroeconomic headwinds to deliver portfolio stability and asset growth.

Under his leadership, the firm actively manages institutional and retail funds such as the SCM Capital Money Market Fund, the Frontier Fund, and the Nigeria Energy Sector Fund. The parent firm, SCM Capital Limited (formerly Sterling Capital Markets Limited), has operated in the Nigerian market since its registration in 2006.

Pabina Yinkere –NorrenbergerInvestment & Capital (YTD Yield: 17.90%) 

Norrenberger Investment & Capital Management Limited ranked ninth as the Norrenberger Money Market Fund posted a 17.90% YTD yield.

The fund recorded a NAV of N39.75 billion with 6,124 unitholders, making it one of the largest funds among the top-performing group.

Leading the company is Pabina Yinkere, an investment professional with more than 20 years of experience involving investment advisory, research and strategy, product development and portfolio management.

Appointed as MD/CEO in November 2024 after initially joining the firm as Business Head of Asset Management in November 2023. He leads strategic portfolio growth, product innovation, and market expansion.

Kelechi Eke – DLM Asset Management(YTD Yield: 17.99%)

DLM Asset Management Limited maintained strong performance through the DLM Money Market Fund, which posted a 17.99% YTD yield.

The fund recorded a NAV of N1.45 billion with 102 unitholders.

At the helm is led by Kelechi Eke, a finance executive with more than 14 years of experience across investment banking and asset management, whereby she transitioned across multiple departments including administration, human resources, credit analysis, and operations.

Having spent just five months in the role since her appointment on January 1, 2026, Kelechi Eke’s early performance is promising. Delivering nearly 18% yield within such a short tenure signals effective early repositioning of the fund.

While the fund remains relatively small, the trajectory suggests potential for rapid growth under her leadership as she focused on investment efficiency, institutional client engagement, and portfolio optimization.

Renah Osiemi –Zedcrest Investment Managers (YTD Yield: 18.06%) 

Zedcrest Investment Managers Limited ranked seventh after the Zedcrest Money Market Fund delivered an 18.06% YTD yield.

The company is led by Renah Osiemi, an investment and wealth management professional with more than 14 years of experience in sales, business development, strategy and product management.

Osiemi assumed the role in September 2025, following her successful tenure as Chief Operating Officer (COO) during which she demonstrated strong leadership and steered the company’s affairs, operations, product and business development to success.

The fund’s N14.93 billion NAV alongside a 6,528 unitholder base highlights growing investor confidence.

Under her leadership, Zedcrest has continued to deepen its presence in Nigeria’s investment management space through client-focused investment solutions and efficient portfolio management.

Bolaji Balogun – Chapel Hill Denham (YTD Yield: 18.13%)

Chapel Hill Denham Management Limited operated the largest fund among the top performers through the Chapel Hill Denham Money Market Fund, which posted an 18.13% YTD yield.

The fund recorded a massive NAV of N39.31 billion with 14,086 unitholders, making it one of the most widely held money market funds in Nigeria.

Leading the company is Bolaji Balogun, one of Nigeria’s most recognized investment banking and asset management executives, with more than 30 years of experience across investment banking, investment management and mobile telecommunications.

Balogun joined the company in 2005, spending over 20 years building Chapel Hill Denham into one of Nigeria’s leading investment and asset management firms.

His leadership reinforces Chapel Hill Denham’s position as a market leader in both size and performance.

Abiola Oyekunle– Emerging Africa Asset Management (YTD Yield: 18.21%) 

Emerging Africa Asset Management Limited maintained a strong position in the rankings through the Emerging Africa Money Market Fund, which recorded an 18.21% YTD yield.

The fund’s NAV stood at N8.18 billion, supported by 1,225 unitholders.

With over 20 years of experience in the banking sector, Abiola Oyekunle has built a strong track record in retail and consumer banking, credit appraisal, customer relationship management, risk analysis, and branch management.

She joined Emerging Africa Group in 2024 as Head of Wealth Management and quickly advanced to Chief Operations Officer of Emerging Africa Asset Management Limited.

Now serving as Chief Executive Officer, Abiola leads the company’s strategic direction, driving growth and delivering innovative asset management solutions that align with the Group’s overall vision.

Her leadership has focused on portfolio stability, investor confidence, and yield optimization, helping the fund maintain strong returns in a competitive market.

Dr. Adekunle Orelope Koleosho – Greenwich Asset Management (YTD Yield: 18.34%)

Greenwich Asset Management Limited ranked fourth through the performance of the Greenwich Plus Money Market Fund, which posted an 18.34% YTD yield.

The fund recorded a NAV of N11.81 billion with 1,051 unitholders.

The fund manager is under the leadership of Dr. Adekunle Orelope Koloesho, a seasoned financial markets executive with more than 20 years of industry experience.

Despite joining Greenwich just seven months ago in 2025, Dr. Adekunle Orelope Koloeosho has already made a significant mark. His rapid impact suggests deep market expertise and the ability to quickly recalibrate portfolios to prevailing macroeconomic conditions.

Dr. Koloesho is widely respected within Nigeria’s investment and capital markets industry for his expertise in wealth management, portfolio strategy, and institutional finance.

His leadership has coincided with improved investment efficiency and stronger yield performance for the Greenwich Plus Money Market Fund.

Toyin Akinde – Page Asset Management (YTD Yield: 19.31%)

Page Asset Management Limited secured the third position after the Page Money Market Fund delivered a 19.31% YTD yield.

The fund recorded a NAV of N1.60 billion and 227 unitholders as of March 2026.

Toyin Akinde led and commands the helm with over 15 years of asset management excellence.

She joined the company in 2022 and has played a central role in strengthening the company’s investment operations and market positioning.

Toyin Akinde has delivered one of the strongest yield performances despite managing a relatively smaller fund size.

Akinde’s leadership style has been closely associated with disciplined risk management, client-focused investment strategies, and long-term portfolio sustainability.

Despite operating a smaller-sized fund compared to some industry peers, Page Asset Management delivered one of the strongest yields in the sector, highlighting the effectiveness of its investment strategy.

Abubakar Aribidesi Jimoh– Trustbanc Holdings Limited (YTD Yield: 19.55%) 

Trustbanc Asset Management Limited ranked second after the Trustbanc Money Market Fund posted a 19.55% YTD yield.

The fund recorded a NAV of N15.85 billion with 833 unitholders, placing it among the better-performing medium-sized money market funds in the market.

The company is led by Abubakar Jimoh, a finance and investment professional with over 25 years of experience in various capacities, covering client relationship management, treasury, market risk, credit risk and operational risk management, project, and portfolio management.

Jimoh formally stepped into TrustBanc fully after ending his tenure as Managing Director/CEO of Coronation Merchant Bank in January 2020.

Jimoh has managed and built profitable financial institutions that have grown to become market leaders in their various market segments.

Ahmed Olaitan Banu – STL Asset Management (YTD Yield:20.24%)

STL Asset Management Limited led the money market fund rankings in March 2026 through the performance of the STL Money Market Fund, which delivered a leading 20.24% YTD yield.

The fund recorded a NAV of N10.67 billion with 1,309 unitholders, highlighting growing investor confidence despite operating within a highly competitive market.

Leading the company is Ahmed Olaitan Banu, an investment management executive with more than 15 years of cognate experience spanning Stockbroking, Securities Trading, Investment Management, Institutional Trusteeship, Capital Market Operations, and other financial services.

Banu joined the company in 2022 and has spent over four years helping shape STL Asset Management’s investment strategy and market positioning.

His leadership has focused on disciplined portfolio allocation, liquidity management, and competitive fixed-income positioning, helping the firm emerge as one of the strongest-performing money market fund managers in 2026.

STL’s strong yield performance reflects active treasury management and strategic exposure to high-yield fixed-income instruments during a period of elevated rates.

His strategy appears rooted in aggressive but calculated positioning within short-dated securities, enabling the fund to consistently stay ahead of peers.

His leadership reflects a balance between risk management discipline and yield optimization.

What this means 

The March 2026 performance rankings show that Nigeria’s money market fund industry is becoming increasingly competitive, with fund managers relying heavily on leadership quality, investment discipline, and treasury efficiency to sustain strong yields.

• Interestingly, several of the best-performing funds are not necessarily the largest by NAV, suggesting that portfolio allocation strategy and active yield management are becoming more important competitive differentiators.
• At the same time, larger players such as Chapel Hill Denham and Norrenberger continue to demonstrate the importance of institutional trust, scale, and long-term investor confidence.
• Collectively, the top 10 money market funds delivered average yields well above the industry benchmark in Q1 2026, reinforcing the attractiveness of fixed-income mutual funds for Nigerian investors seeking liquidity, capital preservation, and stable returns in a high-interest-rate environment.

As Nigeria’s asset management industry continues to expand, the ability of these CEOs and managing directors to sustain yields, deepen investor participation, and navigate interest-rate cycles will remain central to the next phase of growth in the mutual funds industry.