{
  "id": 1193887,
  "title": "At N104.9tn, Nigeria’s Overnight Financing Market Hits New Monthly Record in July 2026",
  "url": "https://urgent.news/2026/08/16/at-n104-9tn-nigerias-overnight-financing-market-hits-new-monthly",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-16T04:00:20.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/08/16/at-n104-9tn-nigerias-overnight-financing-market-hits-new-monthly-record-in-july-2026/"
  },
  "original_language": "en",
  "account": "Nigeria's overnight financing market reached a record high trading volume of N104.9 trillion in July 2026, according to data released by the Central Bank of Nigeria (CBN). This marked a 32.6 percent increase from May 2026 and represented the highest monthly volume since the benchmark was introduced in April 2026. The National Overnight Financing Rate (NOFR), introduced by the CBN, remained stable at around 22 percent during the period, indicating that the market absorbed higher transaction volumes without significant upward pressure on borrowing rates. CBN Governor Olayemi Cardoso described the NOFR as a crucial reform to strengthen transparency, improve monetary policy transmission, and align Nigeria's money market with international standards.",
  "summary": "Kayode Tokede Nigeria’s overnight financing market recorded an all-time high trading volume of N104.9 trillion in July 2026, sustaining the sharp expansion in activity since the Nigerian Overnight Financing Rate",
  "key_points": [
    "Nigeria's overnight financing market hit N104.9tn in July 2026",
    "32.6% increase from May 2026, highest monthly volume since April 2026",
    "NOFR remained stable at around 22%, absorbing higher volumes without rate pressure"
  ],
  "editors_take": "The surge in Nigeria's overnight financing market to a record high signals a significant deepening of the country's money market, driven by the Central Bank's reforms to enhance transparency and align with global standards.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}