Regulatory Alerts2026-04-17 | CCD/PressRelease/003Central Bank of Nigeria and Financial Market Dealers’ Association Announce the Nigerian Overnight Financing Rate (NOFR) as New Money Market Benchmark
The Central Bank of Nigeria, in collaboration with the Financial Markets Dealers Association, has officially introduced the Nigerian Overnight Financing Rate (NOFR) as a new standardized money market benchmark. This adoption aligns Nigeria with global interest rate practices to improve price discovery, increase transparency, and strengthen monetary policy transmission and risk management. Following formal stakeholder adoption on February 27, 2026, the NOFR is now active, with the Central Bank of Nigeria serving as the designated benchmark administrator.
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