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With a cumulative net asset value of over N5.9 trillion, Nigeria’s asset management industry is a critical pillar of the country’s financial services ecosystem.
Asset management companies (AMCs) not only facilitate wealth creation for individuals, corporates, and institutions, but also serve as key channels for capital allocation across the economy fueling infrastructure, innovation, and industrial growth.
These firms typically structure their portfolios across money market funds, equity funds, fixed-income funds, and balanced/mixed funds, offering a diverse range of investment vehicles for varying investor needs and risk appetites.
Money market funds provide safety and liquidity; equity funds offer high-risk, high-reward growth; fixed-income funds deliver stability and predictable returns; and balanced funds combine both approaches.
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In this feature, the Net Asset Value (NAV) of all collective investment schemes (CIS) as of 20th June 2025 has been used as a proxy to highlight the scale and performance of Nigeria’s leading asset managers and the strategic executives behind them.
Toyin Owolabi – MD FSDH Asset Management Ltd
- NAV: 76.3 billion
Mr. Owolabi brings over two decades of experience in the banking industry and currently serves as the MD of FSDH Asset Management Limited. In this role, he leads the development and management of relationships with non-bank financial institutions and other institutional clients.
Prior to joining FSDH, he held various positions at FCMB, where he was responsible at different times for Financial Institutions, Correspondent Banking, and Structured Funding. He also previously served as Head of Treasury at IMB International Bank.
Mr. Owolabi holds a bachelor’s degree in Agriculture from the University of Ilorin and an MBA from the Business School Netherlands. He has participated in several training programs both locally and internationally. At FSDH Merchant Bank, his responsibilities also extended to wealth management and correspondent banking.
Oluwayemisi Ogunmola – MD EDC Fund Management Limited
- NAV: N76.3 billion
With over two decades of experience in Nigeria’s financial services industry, Oluwayemisi Ogunmola currently serves as the Managing Director of EDC Fund Management Limited, the asset management arm of Ecobank Group.
She has been at the helm since 2021, driving strategic leadership, fund growth, and portfolio diversification across the West African market.
Before her current role, Ogunmola was Head of Fund Distribution (West Africa) at Ecobank Development Corporation (EDC) from 2014 to 2023, where she played a key role in expanding the firm’s regional investment footprint.
Prior to that, she served as Head of Lagos Mainland Distribution & Channels Management at FBN Capital Limited from 2013 to 2014, where she contributed to strengthening retail investor engagement and fund accessibility.
Ogunmola holds a bachelor’s degree in computer science and an MBA in Marketing both from the University of Lagos. Her expertise spans investments, portfolio management, capital markets, and corporate finance, making her a seasoned executive with a deep understanding of client needs and market dynamics.
Under her leadership, EDC Fund Management continues to position itself as a leading pan-African investment manager, offering tailored solutions that drive inclusive wealth creation across the continent.
Kennedy Phillip Ichibor, CFA – MD Zenith Asset Management Ltd
- NAV: N105.9 billion
Kennedy Ichibor, CFA, is the Managing Director and Chief Executive Officer of Quantum Zenith Capital & Investments Limited, one of Nigeria’s leading investment banking and asset management firms. A Chartered Accountant and alumnus of the University of Benin, Ichibor brings over two decades of experience in corporate and investment banking, with a strong track record within the Zenith Bank Group.
Throughout his career, he has structured and executed major debt facilities for multinational corporations across key sectors such as Fast-Moving Consumer Goods (FMCG), agriculture, steel, and commodities. Under his leadership at Quantum Zenith, Ichibor has played a pivotal role in several high-profile debt and equity capital market transactions, especially in power, financial services, and subnational financing.
Quantum Zenith Capital is distinguished for its strong capitalization, robust market turnover, and expertise in executing “big-ticket” deals. The firm is committed to global best practices, leveraging cutting-edge technology, access to diverse markets, and a team of seasoned professionals to deliver exceptional financial solutions.
Deji Tunde-Anjous – MD AXA Mansard Investments Limited
- NAV: N145.3 billion
Deji Tunde-Anjous serves as Chief Executive Officer of AXA Mansard Investments Limited, a subsidiary of AXA Mansard and a key player in Nigeria’s asset and investment management space. Since his appointment in 2019, Tunde-Anjous has led the firm’s push toward technology-driven innovation, leveraging automation and AI to enhance portfolio management, client engagement, and operational efficiency.
Founded in 1989, AXA Mansard Investments was initially incorporated as a private limited liability company. It has since evolved into a composite company registered with the National Insurance Commission of Nigeria (NAICOM) and is regulated by the Securities and Exchange Commission (SEC) as a licensed Fund and Portfolio Manager. As part of the AXA Mansard Group, one of the country’s leading financial services providers, the firm delivers a wide range of investment solutions to retail and institutional clients.
Tunde-Anjous holds a BA and MSc in Accounting, Financial Management, and Information Management from the University of Sheffield, UK, and completed the Leading Digital Business Transformation program at IMD, Switzerland.
Kelvin F. Barida – MD Guaranty Trust Fund Manager
- NAV: N204.7 billion
Kelvin F.B. Biiranee was appointed Managing Director of Guaranty Trust Fund Managers Limited, a non-banking subsidiary of GTCO Plc, in July 2022. With over 20 years of experience across wealth management, auditing, and banking, he has held leadership roles in operations, retail, corporate, and institutional banking during his 18-year career in the financial sector.
A graduate of the University of Port Harcourt, where he was the best graduating student from the Faculty of Management Sciences, Kelvin also studied at the University of Lagos, the University of Manchester, and the University of Warwick. He is an alumnus of the Advanced Management Programme at Lagos Business School and IESE Business School, Spain.
He is a Fellow of ACCA, ICAN, CIBN, and CITN, and a Member of the Chartered Institute for Securities & Investment (MCSI). He is also a SEC-licensed Fund/Portfolio Manager and Corporate Investment Adviser.
Bolaji Balogun; CEO, Chapel Hill Denham Mgt. Limited
- NAV: N225.6 billion
Bolaji Balogun is the Chief Executive Officer of Chapel Hill Denham and one of Nigeria’s most accomplished dealmakers, with over three decades of experience in investment banking, asset management, and telecommunications. Renowned for leading high-impact transactions by both volume and value, Bolaji has played a defining role in shaping Nigeria’s capital markets.
He began his career at the FCMB Group, where he spent a decade in investment banking and securities trading. In 2001, he co-founded Econet Wireless Nigeria (now Airtel Nigeria), leading its successful $285 million GSM license bid. He served as Chief Business Development & Strategy Officer and later Chief Marketing Officer. The $1.67 billion sale of Econet to Celtel in 2005 remains Nigeria’s largest private investment exit.
Bolaji founded Chapel Hill Denham in 2005, returning to investment banking. He chairs Unilever Nigeria and Endeavor Nigeria and sits on multiple boards, including Trustfund Pensions. A graduate of the London School of Economics, he is also Co-Chair of the Abia Global Economic Advisory Council and the SDG Private Sector Advisory Group.
Wale Odutola: Incoming CEO, ARM Investment Managers Limited
- NAV: N513.5 billion
Wale Odutola is the Group Chief Executive Officer of ARM Holding Company, a role he assumed in July 2025 following his appointment as part of a strategic leadership transition. With nearly three decades of experience in Nigeria’s financial services sector, Odutola brings a wealth of expertise in asset management, pensions, real estate, and investment advisory.
Before becoming Group CEO, he served as Executive Director at ARM HoldCo and was previously the Managing Director of ARM Pension Managers (PFA) Ltd from 2015 to 2024. Under his leadership, ARM Pensions grew to become one of Nigeria’s largest and most respected pension fund administrators. He also held the position of Managing Director at ARM Properties Plc (2011–2014) and served as First Vice President at ARM Investment Managers (2008–2010).
Odutola holds a bachelor’s degree in accountancy from the University of Lagos and is an alumnus of the General Management Program (GMP 18) at Harvard Business School. His extensive experience across the ARM Group and proven leadership capacity make him well-positioned to drive the firm’s next growth phase, focused on innovation, performance, and value delivery
Dr. Odiri Oginni: CEO, United Capital Asset Mgt. Ltd
- NAV: N642.7 billion
Dr. Odiri Oginni is a distinguished investment professional and financial strategist with over 19 years of experience in asset management, advisory, and business leadership. She currently serves as the Managing Director and CEO of United Capital Asset Management Ltd, where she oversees more than N1 trillion in assets under management, making it one of Nigeria’s top-ranked fund managers.
Before assuming her current role, she was Group CFO at United Capital Plc, and previously held senior finance roles at UBA Global Markets, BGL Plc, and Deloitte. A CFA Charterholder and Fellow of ICAN, Dr. Oginni earned her DBA from Lagos Business School, with a thesis on the influence of social norms on investment behavior.
A passionate advocate for financial literacy and inclusion, she is Vice President of CFA Society Nigeria, a Forbes Finance Council member, and a champion for women’s economic empowerment in the investment Industry.
Ike Onyia: MD/CEO First Asset Management Limited
- NAV: N762.9 billion
Ike Onyia is the current MD/CEO of First Asset Management Limited (FAML), the investment management arm of First Holdings Plc. With over two decades of expertise in portfolio management, private equity, corporate finance, and investment advisory, he leads the firm’s strategic vision in both traditional and alternative asset markets. He also serves as a non-executive director at FBNQuest Capital and FBNQuest Funds.
Before joining FAML in 2016, Ike held leadership roles across some of Nigeria’s leading investment firms, including Zenith Capital, FSDH Asset Management, Fiducia Capital, and Parsifal Partners. He was also a pioneer Executive Committee member of the Fund Managers Association of Nigeria (FMAN), helping shape regulatory and operational standards in the industry.
A graduate of King’s College Lagos, Ike earned an MSc in International Economics, Banking, and Finance from Cardiff Business School, University of Wales, and is widely respected for his strategic leadership in Nigeria’s capital markets.
Olubusola Jejelowo –CEO Stanbic IBTC Asset Mgt. Limited
- NAV: N2.6 trillion
Olubusola Jejelowo is the Chief Executive of Stanbic IBTC Asset Management Limited, a leading investment firm managing over N2.6 trillion in assets under management. She brings nearly two decades of experience within the Stanbic IBTC Group, where she has led various functions across wealth and investment management, business strategy, and client engagement.
Appointed CEO in June 2023, Jejelowo is responsible for driving strategic growth, enhancing investor confidence, and leading innovation through accessible platforms like BluNest, which simplifies investing for everyday Nigerians. Before this, she served as Executive Director, Investment Management, and Head of Wealth and Investment, Stanbic IBTC.
Under her leadership, the company has deepened its commitment to financial inclusion, demystifying wealth-building for more Nigerians.
Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings PLC, was incorporated on November 20, 1992, and began operations in January 1996. It is a member of the Standard Bank Group, Africa’s largest banking group by assets.
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