June 15, 2026
Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso
By Emma Ujah, Abuja Bureau Chief
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has launched the Nigerian Overnight Financing Rate (NOFR), saying financial systems must continue to evolve to meet changing economic realities.
The NOFR is a daily benchmark interest rate introduced by the CBN in collaboration with the Financial Markets Dealers Association. It reflects the actual, real-time cost of secured short-term borrowing between financial institutions.
