Alpha10 Group Contributes N6.29b To SEC-regulated Mutual Fund

From Godfrey Gabriel, Port Harcourt

Alpha10 has announced that three mutual funds launched this year have contributed a combined N6.29 billion to Nigeria’s Securities and Exchange Commission (SEC)-regulated mutual fund net asset value, as the financial services company opened its Port Harcourt office.

The Managing Director, Abigail Utomi, disclosed this during the official opening of the company’s Port Harcourt branch, describing the development as a significant milestone in its expansion strategy. Utomi said the funds, launched within nine months, were the Alpha10 Dollar Fund, Alpha10 Money Market Fund and Alpha10 Halal Fund, designed to provide investment opportunities for individuals, institutional investors and Nigerians in the diaspora.

She explained that the Dollar Fund was introduced to enable investors to diversify their portfolios beyond naira-denominated investments, while the Money Market Fund provides a flexible investment option for those seeking to invest in naira assets.

The Halal Fund, she said, was designed to provide Sharia-compliant investment opportunities for investors seeking ethical and non-interest financial products.

According to her, the group’s expansion into Port Harcourt followed the establishment of offices in Abuja, Lagos and Kano, making Rivers State capital the fourth location under its 2026 expansion plan.

She said the decision was informed by the economic opportunities in the Niger Delta, noting that the region’s investment potential extended beyond oil and gas to manufacturing, agriculture, infrastructure, maritime trade, logistics, technology and real estate.

Utomi said the company intended to bring its financial services closer to businesses and investors in the region, particularly through its asset management, securities trading and financial advisory operations.
She added that the group would work with businesses seeking financial guidance and access to capital to support their expansion.

The managing director also said Alpha10 planned to participate in community development programmes as part of its commitment to the host environment.

On investor protection, Utomi urged members of the public to verify the regulatory status of investment companies and fund managers before committing their money.

She cautioned against investment schemes promising unusually high returns within short periods, saying investors should carry out proper checks before making financial decisions.

In his welcome address, the Chairman of Alpha10 Group, Chibuzo Ekwekwuo, said the opening of the Port Harcourt office reflected the board’s confidence in the economic prospects of Rivers State and the wider South-South region.

He said the office would serve as a platform for building business relationships, supporting enterprises and expanding investment participation across the region.

Ekwekwuo assured clients and other stakeholders that the group would maintain its standards of governance, integrity and professional service delivery.

In a goodwill message, Eze Arthur Kalagbor Onunani II, who represented the Rebisi monarch, welcomed the company to Port Harcourt but urged it to operate transparently and in accordance with the law.

He recalled previous experiences involving investment companies that allegedly took advantage of residents through promises of quick returns, stressing the need to protect the public from fraudulent investment schemes.

Kalagbor said the traditional institution was willing to support the company’s lawful operations and community engagement efforts.

Also speaking, a representative of the Securities and Exchange Commission, Bernard Ebe, congratulated the company on the opening of its Port Harcourt office and urged it to comply with the commission’s regulatory requirements.

He stressed that registration did not exempt investment operators from regular reporting and other compliance obligations, adding that the commission expected firms to operate within established market rules.

Ebe also advised Nigerians to be cautious of Ponzi schemes and investment offers promising unrealistic returns, urging prospective investors to verify the status of operators before investing.

He encouraged businesses in Port Harcourt and Rivers State to explore opportunities in the capital market as a means of raising funds for expansion, subject to applicable regulatory requirements.