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What NOFR means for Nigeria’s financial markets, and why it matters now

The Nigerian Overnight Financing Rate (NOFR) marks a significant step in improving how money is priced in Nigeria’s financial system. Introduced by the Central Bank of Nigeria (CBN) in collaboration with the Financial Markets Dealers Association (FMDA) and supported by the European Bank for Reconstruction and Development (EBRD), NOFR provides a transparent, transaction-based benchmark derived […]

Nigeria Capital Importation-2025

Summary of Nigeria’s capital importation data for 2025. Key takeaways: – Total capital inflows surged 88.45% year‑on‑year to $23.22 billion, reflecting stronger investor confidence amid ongoing economic reforms. – Foreign Portfolio Investment (FPI) drove the growth, accounting for 85% of total inflows. Within FPI:   Money market instruments (Treasury bills, OMO bills, commercial papers) made […]

FMDA’s Weekly Market Report November 24, 2025

Weekly Market Insights: Global Trends and Local Implications Global inflation eased across major economies last week, prompting several central banks, including the Fed, BoE, South Africa, India, and Brazil, to lean toward monetary easing. This development strengthens expectations that the Central Bank of Nigeria (CBN) may deliver a 50bps rate cut at its 303rd Monetary […]

Implications of Dangote Refinery Expansion on Nigeria’s Foreign Exchange Demand

IMPLICATIONS OF DANGOTE REFINERY EXPANSION ON NIGERIA’S FOREIGN EXCHANGE DEMAND As Dangote Refinery sets on a historic trajectory of expansion from 650,000 barrels per day to 1.4 million barrels, more than double its current production capacity, alongside plans to list 10 percent of its stake to the public, the implications for Nigeria’s foreign exchange dynamics […]

AML Workshop – Spotlight on Nigeria (August 5-6, 2021)

Refinitiv, in collaboration with Financial Markets Dealers Association (FMDA), are pleased to invite you to attend our two-day virtual AML workshop – Spotlight on Nigeria. With a regulatory environment that is constantly changing, it is an ongoing struggle to stay on top of trends and, most importantly, global regulatory requirements.This complimentary two-day workshop aims to […]

FMDA’S BONDS WORKGROUP HOLDS WEBINAR ON “GROWING A LIQUID MARKET FOR CORPORATE BONDS”

The Financial Markets Dealers Association’s Bonds Workgroup will be organizing a one-day webinar for the Treasurers, Dealers, Middle & Back Office Staff, Regulators, Corporate Treasurers, Financial Market participants, Investors, and other stakeholders as scheduled as follows: Theme:            “Growing a Liquid Market for Corporate Bonds”. Date:               Thursday, November 12th, 2020 Time:                     10.00am – […]