CBN introduces new overnight rate to transform Nigeria’s financial market: What it means for banks, investors
Nigeria’s financial landscape is set for a major shift as the Central Bank of Nigeria (CBN) unveils a new benchmark, the Nigerian Overnight Financing Rate (NOFR), aimed at enhancing transparency, improving monetary policy transmission, and aligning the country with global financial standards. The initiative, developed in collaboration with the Financial Markets Developments Association (FMDA), signals … Read more