The money market has long been the go-to haven for Nigerian investors seeking liquidity and competitive short-term returns.
As of August 8, 2025, the Securities and Exchange Commission (SEC) valuation reports revealed an interesting reshuffle in performance tables, with both established and relatively newer funds posting strong numbers.
Key takeaways
- Nigeria’s top money market funds on August 8, 2025, delivered strong Year-to-date (YTD) yields above 20%, with DLM, Meristem, and Zedcrest leading.
- To generate ₦10 million annually from these funds, investors would need over ₦40 million in initial capital, underscoring that they are not get-rich-quick tools.
- With inflation still stubbornly high and government borrowing continuing, treasury bill rates are likely to remain elevated. This will keep money market funds rewarding.
As of the week ended August 8, 2025, the total net asset value (NAV) of the industry rose to ₦3.59 trillion, up from ₦3.52 trillion recorded the previous week, across 41 licensed fund managers.
Money market funds pool investor money to buy low-risk, short-term assets, such as Treasury bills and commercial papers, to provide steady, higher returns than traditional savings accounts.
An average Nigerian investor can start with a low minimum investment, easily access their funds, and benefit from professionally managed, diversified portfolios without direct market risk.
What are the Top Money Market Funds in Nigeria?
Below is a closer look at some of the leading performers and what their results mean for investors.
- To help you understand potential earnings, we’ve broken down the initial investment required to earn N10 million annually.
1. RT Briscoe Savings & Investment Fund
- Yield (YTD): 22.20%
- NAV: ₦65.82 million
- Unitholders: 23
The DLM Asset Management Limited Money Market Fund (RT Briscoe Savings & Investment Fund) pools investors’ money into safe, short-term investments, such as treasury bills, commercial papers, and bank deposits.
As of the time of review, it has a strong 22.20% year-to-date yield and only 23 unitholders, showing exclusivity. With a ₦10,000 minimum entry, it’s accessible.
To earn ₦10 million yearly at this yield, you’d need to invest about ₦45 million. Your money is invested in low-risk financial instruments, generating steady interest income.
2. Page Money Market Fund
- Yield (YTD): 22.14%
- NAV: ₦938.9 million
- Unitholders: 126
With this yield, to earn ₦10 million annually, you’d need to invest about ₦45.2 million. The fund is larger and more diversified than many of its peers, making it a stable choice for those seeking a steady income and capital preservation.
Funds are invested in safe assets, such as treasury bills, commercial papers, and bank deposits.
3. Meristem Money Market Fund
- Yield (YTD): 22.09%,
- NAV: ₦50.67 billion
- Unitholders: 6,023
The Meristem Money Market Fund stands out as one of Nigeria’s strongest performers in 2025. With a year-to-date yield of 22.09%, the fund manages an impressive ₦50.67 billion in assets on behalf of over 6,000 investors.
Despite its large size, Meristem has consistently maintained high returns by channeling funds into secure instruments such as Treasury Bills and top-tier bank deposits.
For an investor aiming to earn ₦10 million annually, about ₦45.3 million would be required at the current yield.
4. Zedcrest Money Market Fund
- Yield (YTD): 21.62%
- NAV: ₦6.43 billion
- Unitholders: 4,111
The Zedcrest Money Market Fund has continued to deliver steady gains in 2025, posting a year-to-date yield of 21.62%. Backed by a ₦6.43 billion asset base and a growing pool of more than 4,100 unitholders, the fund has built a reputation for disciplined investing in naira debt instruments and high-quality commercial papers.
With a ₦1,000 minimum investment, it remains one of the most accessible funds for everyday savers, while also appealing to institutions seeking stability. To generate ₦10 million in annual returns, an investor would need to commit roughly ₦46.3 million at current performance levels.
5. ARM Money Market Fund
- Yield (YTD): 20.89%
- NAV: ₦247.22 billion
- Unitholders: 73,084
Although its 20.89% year-to-date yield trails some rivals, the fund’s sheer size underscores the trust it commands and its reputation for safety.
Heavily favored by retail investors, the fund allows entry from just ₦1,000 and pays interest quarterly. It’s especially appealing to salary earners and retirees who value steady cash flow.
At the current yield, an investor would need to invest approximately ₦47.8 million in this fund to generate ₦10 million in annual returns.
6. Chapel Hill Denham Money Market Fund
- Yield (YTD): 20.73%
- NAV: ₦30.46 billion
- Unitholders: 2,083
Chapel Hill Denham’s money market fund remains a solid player with a 20.73% year-to-date yield. Managing ₦30.46 billion in assets for just over 2,000 investors, it combines scale with strong returns.
The fund primarily invests in treasury bills and bank placements, offering both safety and consistent returns. To earn ₦10 million annually, an investor would need about ₦46.6 million at current yields.
7. AIICO Money Market Fund
- Yield (YTD): 20.24%
- NAV: ₦23.92 billion
- Unitholders: 3,156
The AIICO Money Market Fund continues to attract investors with its 20.24% year-to-date yield, backed by a sizable ₦23.9 billion asset base. With over 3,100 unitholders, it reflects strong retail participation while maintaining institutional credibility.
At the current yield, an investor would require about ₦49.4 million to generate ₦10 million annually, making it a dependable choice for steady income seekers.
8. STL Money Market Fund
- Yield (YTD): 20.35%
- NAV: ₦5.048 billion
- Unitholders: 714
The STL Money Market Fund delivers a competitive 20.35% year-to-date yield, managing a more modest ₦5.05 billion for just over 700 investors.
Its relatively small scale allows for nimble allocations into treasury bills and other short-term instruments. To earn ₦10 million annually, investors would need around ₦49.1 million at current performance levels.
9. Emerging Africa Money Market Fund
Yield (YTD): 20.09%
NAV: ₦5.77 billion
Unitholders: 996
The Emerging Africa Money Market Fund posts a solid 20.09% yield year-to-date, supported by disciplined investments in money market assets.
With a ₦5.77 billion NAV and close to 1,000 investors, it has steadily gained ground as a trusted option in the mid-sized fund category.
To achieve ₦10 million in annual income, one would need to invest roughly ₦49.8 million.
How to start investing in money market funds
The entry process is straightforward. An investor typically opens an investment account with a licensed fund manager, submits a KYC package (valid ID, utility bill, passport photograph), and transfers the desired amount.
Most funds have minimums ranging from ₦5,000 to ₦1 million, depending on the manager. From there, daily yields are accrued and reinvested automatically, compounding earnings.
Many asset managers also provide mobile apps, making monitoring as easy as checking a bank balance.
Looking ahead…
Looking ahead for the rest of this year, we can expect money market fund yields to stay attractive, though movement will largely depend on how the Central Bank of Nigeria (CBN) manages liquidity and interest rates.
With inflation still stubbornly high and government borrowing continuing, treasury bill rates are likely to remain elevated.
This will keep money market funds rewarding, as most are heavily invested in short-term government instruments and commercial papers.
Investors should watch for slight adjustments in yield. Funds like Meristem and DLM, which are already returning above 22%, may tighten if liquidity improves, while conservative funds like STL could remain stable at around 17%.
Institutional inflows may also grow, particularly into large funds like ARM and Chapel Hill, which already dominate the market.
