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Money Market Indicators (In Percentage)

Money Market Indicators (In Percentage)
  2023
Month February March April
Inter-Bank Call Rate 12.54 14.75 15.80
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 17.50 18.00 18.00
Treasury Bill Rate 2.09 3.81 5.73
Savings Deposit Rate 4.30 4.58 4.59
1 Month Deposit Rate 7.56 7.12 7.32
3 Months Deposit Rate 7.78 7.63 7.92
6 Months Deposit Rate 8.91 9.35 9.84
12 Months Deposit Rate 8.84 7.84 8.18
Prime Lending rate 13.62 13.97 14.05
Maximum Lending Rate 28.75 28.08 28.59
       

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

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Facts : 3/1/1970
ORGANISATION AND GROWTH:In March, 1970, the Board of Directors employed the services of W.H. Rozell (Junior), a consultant, to, among other things, review the existing structure and size of the Bank Departments. In the same year, Rozell proposed a new organisational structure for the CBN.
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