Daba Finance and Coronation Open Nigerian Markets Abroad

In Short

• Daba Finance and Coronation have signed a distribution deal to give eligible investors outside Nigeria digital access to Nigerian capital-market products.
• Coronation Securities and Coronation Asset Management will provide the regulated in-country brokerage and asset management services.
• The rollout includes market intelligence, investor education, onboarding, multi-currency funding, and reporting.

What Happened

Daba Finance says it has partnered with Coronation to help eligible investors outside Nigeria access Nigerian capital-market products through its platform. The companies announced the agreement on September 2 in Lagos and Miami.

Under the arrangement, Daba will manage the app and web experience, including onboarding (digital identity checks and account setup), funding in multiple currencies, trade or investment requests, and performance reporting. Coronation Securities and Coronation Asset Management will provide the underlying services inside Nigeria’s regulated market.

Daba also highlighted its US structure. Daba Advisors, the group’s US investment adviser, is registered with the US Securities and Exchange Commission. User eligibility will depend on local laws in each investor’s jurisdiction.

The partnership covers three areas. First is market intelligence, meaning news, data, analysis, and research on Nigerian securities. Second is investor education, via courses from Daba Academy and Coronation Investment Academy, plus webinars that explain risks, institutions, and market structure. Third is digital access, which is the execution and account experience that lets offshore investors participate.

Why It Matters

Nigeria’s equities market has been strong in 2026, with the NGX All-Share Index up about 57% through August, and market value hitting above ₦160 trillion at one point. Nigeria is also set to rejoin FTSE Russell’s Frontier Market classification from September 21, after improvements in foreign exchange liquidity and market access.

Even with the rally, foreign participation is still relatively low. Exchange data showed domestic investors accounted for about 91% of NGX transactions in May. If Daba and Coronation can make onboarding, funding, and research easier for offshore investors, it could widen the buyer base for Nigerian stocks and funds.

The key constraint is compliance. This is a distribution arrangement, not a specific securities offering, and access remains subject to local eligibility rules.