Nigerian Overnight Financing Rate

Nigerian Overnight Financing Rate (NOFR)

NIGERIAN OVERNIGHT FINANCING RATE (NOFR) RATES (%)
DATE	DAILY VOLUME (=N= 'Million)	MINIMUM RATE	MAXIMUM RATE	DAILY VARIATION RANGE	NOFR

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*The NOFR is designed to serve as Nigeria’s overnight risk-free reference rate, reflecting the cost of secured overnight Naira funding among eligible financial institutions.
As a robust and transaction-based benchmark, NOFR will support accurate pricing of financial instruments and promote standardization in financial contracts, deepen market development, and align Nigeria with global best practices in benchmark rate reforms.