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Money Market Indicators (In Percentage)

Money Market Indicators (In Percentage)
  2009
Month June July August
Inter-Bank Call Rate 18.60 18.10 7.04
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 8.00 6.00 6.00
Treasury Bill Rate 3.32 3.93 4.80
Savings Deposit Rate 2.67 2.40 2.79
1 Month Deposit Rate 11.69 14.81 13.07
3 Months Deposit Rate 12.63 12.86 12.58
6 Months Deposit Rate 13.12 13.32 13.76
12 Months Deposit Rate 12.67 13.23 13.78
Prime Lending rate 19.08 19.34 19.39
Maximum Lending Rate 22.67 22.80 23.18
       

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

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Facts : 7/1/1959
BOARD OF DIRECTORS:The Management of the CBN is placed under a Board of Directors which is responsible for the Policy and General administration of the Affairs and Business of the Bank.Under the original statute,the Board was composed of the Governor as Chairman,a Deputy Governor and Five other Directors all of whom were appointed by the Federal Government.
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