To address the need for a credible reference rate in the Nigerian Money and Capital Markets, the Association successfully introduced the Nigerian Inter-bank Offered Rate (NIBOR). The maiden publication of the NIBOR took place on April 6, 1998. Thereafter, the publication gradually progressed from weekly to twice a week and daily publications. The success of the NIBOR project encouraged the Association to also introduce a corresponding reference rate for foreign exchange transactions known as the Nigerian Inter-bank Foreign Exchange Rate (NIFEX).

Both fixings currently run daily and are being supervised by the NIBOR Committee whose membership comprises of representatives from the major sectors of the national economy.

For NIBOR and NIFEX rates please click here