| Indicator | Rate (NGN) | As Of | Source |
|---|---|---|---|
| USD/NGN Central Rate | ₦1,374.42 | 2026-05-25 | Central Bank of Nigeria |
| USD/NGN Buying Rate (CBN) | ₦1,373.92 | 2026-05-25 | Central Bank of Nigeria |
| USD/NGN Selling Rate (CBN) | ₦1,374.92 | 2026-05-25 | Central Bank of Nigeria |
| Buying–Selling Spread | ₦1.00 | 2026-05-25 | Central Bank of Nigeria |
CBN official window rates. Dollar Fund NAVs on Rategyde are converted using the central rate. A spread of ₦1.00 between buying and selling rates reflects CBN market-making activity.
| Category | Funds | Avg YTD | Total NAV | Share | WoW Δ | Signal | Macro Sensitivity |
|---|---|---|---|---|---|---|---|
| Specialised Funds | 5 | 68.20% | ₦29.51B | 0.4% | +4.73% | Outperform | Mixed macro sensitivity |
| Exchange Traded Funds | 12 | 60.93% | ₦30.63B | 0.4% | +5.97% | Outperform | Mixed macro sensitivity |
| Equity Funds | 20 | 56.21% | ₦234.66B | 3.0% | +13.77% | Outperform | Equity market driven; macro indirect |
| Balanced Funds | 29 | 33.99% | ₦124.02B | 1.6% | +5.27% | Outperform | Mixed macro sensitivity |
| Ethical Funds | 3 | 32.34% | ₦19.51B | 0.2% | +8.16% | Outperform | Mixed macro sensitivity |
| Shari'ah Compliant Funds | 20 | 19.28% | ₦133.93B | 1.7% | +11.59% | In Line | Mixed macro sensitivity |
| Infrastructure Funds | 2 | 18.05% | ₦143.41B | 1.8% | +0.03% | In Line | Mixed macro sensitivity |
| Money Market Funds | 45 | 16.73% | ₦4.58T | 57.8% | -6.18% | In Line | Closely tracks CBN policy rate |
| Bond Funds | 38 | 11.53% | ₦244.72B | 3.1% | +9.69% | Underperform | Inversely sensitive to rate movements |
| Real Estate Investment Trusts | 6 | 9.12% | ₦506.71B | 6.4% | +0.21% | Underperform | Mixed macro sensitivity |
| Dollar Funds | 39 | 4.82% | ₦1.87T | 23.7% | +15.40% | Underperform | USD-denominated; returns driven by FX |
Bar length proportional to average YTD return. Categories are sorted by performance (highest to lowest). Money Market and Bond funds track interest rate policy most closely.
The Nigerian mutual fund industry operates in a high-interest-rate environment as of 2026-04-30. The CBN official USD/NGN rate stands at ₦1,374.42, with a bid-ask spread of ₦1.00.
Money Market Funds average 16.36% YTD across 48 funds — reflecting the high short-term interest rate environment driven by CBN's monetary tightening stance. Bond Funds average 10.87% YTD across 41 funds. Bond funds are underperforming money market funds, suggesting duration risk remains elevated.
Dollar Funds average 4.55% YTD in USD terms across 44 funds. In a stable or appreciating naira environment, dollar-denominated returns convert poorly to NGN. Investors seeking currency diversification should compare the dollar fund return against both the NGN-denominated alternatives and the actual USD/NGN rate movement for the period.
The performance spread across categories (68.20% best vs 4.82% worst) underscores the importance of category selection in the current macro regime.