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Money Market Indicators (In Percentage)

Money Market Indicators (In Percentage)
  2023
Month June July August
Inter-Bank Call Rate 11.66 6.73 3.89
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 18.50 18.75 18.75
Treasury Bill Rate 3.87 4.45 5.13
Savings Deposit Rate 5.18 5.24 5.26
1 Month Deposit Rate 7.15 7.11 7.31
3 Months Deposit Rate 7.68 7.62 7.55
6 Months Deposit Rate 8.54 8.25 8.30
12 Months Deposit Rate 7.83 7.81 8.13
Prime Lending rate 13.85 13.98 13.99
Maximum Lending Rate 28.94 27.38 27.59
       

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Note: The Bank replaced MRR with MPR on December 11, 2006

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Facts : 1/1/1900
Federal Ministry of Finance:The Federal Ministry of Finance (FMF) advises the Federal Government on its fiscal operations and collaborates with the Central Bank of Nigeria (CBN) on monetary matters. Before 1991, the responsibility for the supervision and licensing of banks was shared between FMF and CBN until 1991 when CBN became the sole authority.
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