CBN in Partnership with FMDA Introduces Nigerian Overnight Financing Rate, NOFR….details

The Central Bank of Nigeria (@cenbank), in collaboration with the Financial Markets Dealers Association (FMDA), has introduced the Nigerian Overnight Financing Rate (NOFR), a new benchmark designed to improve transparency, strengthen monetary policy transmission, and deepen the nation’s money market.

The CBN said NOFR aligns Nigeria with global standards for short-term rates, supporting better price discovery, consistent pricing of money market instruments, stronger risk management, financial innovation and investor confidence.

….see attached details👇

….stay tuned for more!