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Stanley Osy
Asked: 2026-09-09T14:56:03+00:00 In:

How Can I Track a Pending Money Market Fund Redemption in Nigeria?

I withdraw some of my money market unit in investnija since 3rd of September till now I have not gotten the money in my bank account

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3 Answers

  2. Unstoppablechi

    Money market fund liquidation is not always instant. The time it takes to receive your money depends on the specific fund’s redemption terms and the platform’s processing time. Since you submitted your withdrawal on 3 September and have still not received the money, I would first check the redemptioRead more

    Money market fund liquidation is not always instant. The time it takes to receive your money depends on the specific fund’s redemption terms and the platform’s processing time.

    Since you submitted your withdrawal on 3 September and have still not received the money, I would first check the redemption status on InvestNaija and confirm the fund’s stated redemption/settlement period.

    Also check whether there was a weekend or public holiday during the processing period. If the stated processing period has already passed, contact InvestNaija’s support team with your transaction/reference details and ask them to confirm the exact status of the redemption.

    The important thing is not to assume that all money market funds have the same liquidation period. Always check the specific fund’s redemption terms before investing.

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  3. Gold master

    That’s frustrating — 3rd September to now is 10 days, and money market redemptions should be faster. In Nigeria, most Money Market Funds settle *T+1 to T+3 working days*. Weekends + public holidays don’t count. So if you redeemed on 3rd Sept 2025, you should have gotten it by 5th-8th Sept. Here’s hoRead more

    That’s frustrating — 3rd September to now is 10 days, and money market redemptions should be faster.

    In Nigeria, most Money Market Funds settle *T+1 to T+3 working days*. Weekends + public holidays don’t count. So if you redeemed on 3rd Sept 2025, you should have gotten it by 5th-8th Sept.

    Here’s how to track it and what to do next:

    ### *1. Understand the Normal Timeline for MMFs in Nigeria*
    **Step** **Who does it** **Timeline**
    **Redemption request** You on InvestNaija Day 0
    **Fund Manager sells units** AIICO, Stanbic IBTC, ARM, etc T+1 working day
    **Payment to your bank** Fund Manager → Your bank T+1 to T+3 working days
    So max 3 working days. If it’s more than that, something is stuck.

    ### *2. How to Track Your Redemption on InvestNaija*
    Do these 3 checks in order:

    1. *Check App Status*: Open InvestNaija app → Portfolio → Transaction History.
    Look for status: `Processing`, `Successful`, `Failed`. Take a screenshot
    2. *Check Email*: InvestNaija + the Fund Manager usually send a redemption confirmation email. Search “redemption” in your inbox/spam
    3. *Check Bank*: Make sure the bank account you mandated is the same one. NIP transfers fail if name doesn’t match exactly

    ### *3. Why It Might Be Delayed*
    Common reasons in Nigeria:
    1. *Bank account mismatch*: Name on InvestNaija ≠ Name on bank account. NIP will bounce
    2. *Weekend/Public Holiday*: If you redeemed late on Friday 3rd Sept, Day 1 starts Monday 6th
    3. *Fund Manager backlog*: Some fund managers delay during month-end
    4. *Failed NIP*: Your bank rejected it. Money goes back to Fund Manager
    5. *KYC issue*: If your BVN/NIN isn’t fully verified

    ### *4. What to Do Right Now*
    Do all 3 so it’s escalated:

    1. *Contact InvestNaija Support*
    – In-app: Help/Chat → Raise ticket
    – Email: `support@investnaija.com`
    – Subject: `URGENT: Pending MMF Redemption from 3rd Sept – [Your Name]`
    – Attach: Screenshot of transaction + Bank details
    2. *Contact the Fund Manager directly*
    On InvestNaija, check which fund you redeemed. Example: `AIICO Money Market Fund`.
    Google their customer service and call with your redemption reference. They can confirm if they paid out
    3. *Contact your Bank*
    Ask if any “incoming NIP from [Fund Manager name]” was rejected in the last 10 days. Get the rejection reason

    SEC rule: Fund managers must pay within 3 working days. After that you can escalate to SEC.

    ### *5. If Nothing Works in 48hrs*
    Escalate to *SEC Nigeria*:
    – Email: `complaints@sec.gov.ng`
    – Portal: `www.sec.gov.ng` → e-Complaints
    – Attach: InvestNaija proof, emails, dates. SEC will force the fund manager to respond in 5 working days

    ### *Quick Checklist for you*
    1. [ ] What does InvestNaija app say? Processing or Successful?
    2. [ ] Did you get an email from the Fund Manager?
    3. [ ] Is your bank account name 100% same as InvestNaija?
    4. [ ] Have you messaged InvestNaija support with screenshot?

    Don’t panic — your money is not lost. MMF units are held by a custodian bank, so it’s safe. It’s usually just a NIP/bank name issue.

    What does your InvestNaija app currently show for that 3rd Sept transaction — `Processing` or `Successful`?
    If you tell me, I can tell you exactly who to call next: InvestNaija or the Fund Manager.

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