Nigerian Overnight Financing Rate

Nigerian Overnight Financing Rate (NOFR)

NIGERIAN OVERNIGHT FINANCING RATE (NOFR) (%)
Date	Daily Volume (=N= 'Million)	Minimum Rate	Maximum Rate	Daily Variation Range	Weighted Average Rate*

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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. Read the policy framework for the NOFR.