First Ally Capital Limited (“FACL” or “the Group”), a diversified financial services group based in Nigeria, is pleased to announce that two leading rating agencies; Agusto & Co. Limited and DataPro Limited have assigned investment-grade ratings to the Group.
Agusto & Co. assigned first-time ratings of BBB (Long-Term) and A2 (Short-Term) with a Stable Outlook, affirming the Group’s financial strength, solid governance structure, and strong performance in Nigeria’s fast-evolving financial services landscape. In its report, the agency cited FACL’s fast-growing asset management franchise, significant holdings of liquid and marketable assets, good capitalisation and leverage metrics, and an experienced management team as key drivers of the rating.
DataPro Limited also assigned First Ally Capital a Long-Term Rating of A+ and Short-Term Rating of A1, with a Stable Outlook. The agency highlighted the Group’s strong revenue portfolio, good asset quality, robust liquidity profile, and seasoned leadership. The report noted that First Ally Capital demonstrates very good financial strength, operating performance, and business profile, with low credit risk and a strong ability to meet its ongoing obligations
First Ally Capital has continued to strengthen its financial position, with total assets of ₦72.0 billion as at 31 December 2024, representing a 35.5% increase from 2023. Shareholders’ funds stood at ₦19.5 billion, funding 27.1% of total assets, while client assets under management (AUM) rose to ₦123.6 billion, a 102% year-on-year increase, driven by the rollout of the MyInvestar app and expansion into the retail investment segment. The Group also recorded profit before tax of ₦18.3 billion in 2024, compared to ₦3.8 billion in 2023.
Commenting on the dual ratings, Ebenezer Olufowose, Group Managing Director of First Ally Capital, said:
“Receiving investment-grade ratings from both Agusto & Co. and DataPro is a strong vote of confidence in our strategic direction, financial strength, and disciplined governance. These ratings affirm our commitment to delivering sustainable value to our clients, shareholders, and the wider financial ecosystem in Nigeria.”
First Ally Capital is a Nigerian financial services group established in 2014. The Group operates through seven subsidiaries: First Ally Asset Management, First Ally Investment & Securities, First Ally Advisory, First Ally Trust Microfinance Bank, First Ally Trustees, First Ally Properties, and Mines.io Nigeria Limited. Its vision is to be a one-stop financial services platform for institutional investors, high-net-worth individuals (HNIs), and retail clients by offering access to a broad range of asset classes and investment solutions.
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