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Fokona CommunityCommunity Desk
Asked: April 13, 2026In: INVESTING & WEALTH BUILDING

Why Do Bank Money Market Mutual Funds Pay Lower Interest (14%–15%) Than Investment Apps Offering 18%–20% in Nigeria?

One of our Community Members Ask this Question to Mr. Iking Ferry Good day sir, I have been trying to understand something about money market mutual funds in Nigeria, and I’m a bit confused. I noticed that: Some banks ...Read more

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Geraldine
Geraldine
Asked: September 4, 2026In: INVESTING & WEALTH BUILDING

Can a Money Market Fund Lose Money in Nigeria?

I invested a certain amount in an MMF in Cowrywise. And today it has dropped drastically to loss of #5000. Honestly, the plan is for growth; then why the reduction? Please, is it advisable to remove it asap

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