{"id":537950,"date":"2026-04-18T15:22:19","date_gmt":"2026-04-18T15:22:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/537950\/"},"modified":"2026-04-18T15:22:19","modified_gmt":"2026-04-18T15:22:19","slug":"cbn-announces-nigerian-financial-rate-to-compete-with-us-eu","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/537950\/","title":{"rendered":"CBN announces Nigerian financial rate to compete with US, EU"},"content":{"rendered":"<p>The Central Bank of Nigeria (CBN), in collaboration with financial market dealers, has introduced the Nigerian Overnight Financing Rate (NOFR), a standardized benchmark designed to enhance transparency and strengthen monetary policy transmission.<\/p>\n<p>This was disclosed in a statement issued on Friday by the apex bank\u2019s spokesperson, Hakama Sidi Ali.<\/p>\n<p>According to the CBN, the NOFR is expected to improve price discovery and transparency, while promoting consistent pricing of money market instruments across Nigeria\u2019s financial system.<\/p>\n<p>The regulator noted that the new benchmark positions Africa\u2019s most populous country alongside leading global reference rates such as SOFR in the United States, SONIA in the United Kingdom, \u20acSTR in the Eurozone, and TONA in Japan.<\/p>\n<p>\u201cIt also complements African benchmarks such as JIBAR (South Africa). Following a stakeholder engagement session held on February 27, 2026, where market participants formally adopted the benchmark, and subsequent regulatory approval, NOFR is now in use, with the CBN serving as the benchmark administrator.<\/p>\n<p>\u201cThe bank will ensure governance, transparency, and regular publication of the rate,\u201d CBN stated.<\/p>\n","protected":false},"excerpt":{"rendered":"The Central Bank of Nigeria (CBN), in collaboration with financial market dealers, has introduced the Nigerian Overnight Financing&hellip;\n","protected":false},"author":2,"featured_media":537951,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,61591,1294,4034,56,54,55,741],"class_list":{"0":"post-537950","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-cbn","10":"tag-economy","11":"tag-eu","12":"tag-uk","13":"tag-united-kingdom","14":"tag-unitedkingdom","15":"tag-us"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/537950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=537950"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/537950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/537951"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=537950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=537950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=537950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}