The Nigerian Overnight Financing Rate – A Turning Point for Nigerian Financial Markets

The Nigerian Overnight Financing Rate – A Turning Point for Nigerian Financial Markets

In a bid to align the Nigerian financial market with global standards and strengthen the efficiency of its financial market infrastructure, the Central Bank of Nigeria (CBN), in collaboration with the Financial Markets Dealers Association (FMDA), introduced a new benchmark reform known as the Nigerian Overnight Financing Rate (NOFR).   At its core, the NOFR […]