CBN, FMDA launch nigerian overnight financing rate to boost market transparency
The Central Bank of Nigeria (CBN), in collaboration with the Financial Markets Dealers Association (FMDA), has announced the introduction of the Nigerian Overnight Financing Rate (NOFR) as a new benchmark for the country’s money market. The development was disclosed in a statement issued on Friday in Abuja by Hakama Sidi-Ali, Acting Director of the CBN’s…