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Money Market Indicators (In Percentage)

Money Market Indicators (In Percentage)
  2009
Month July August September
Inter-Bank Call Rate 18.10 7.04 9.70
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 6.00 6.00 6.00
Treasury Bill Rate 3.93 4.80 4.80
Savings Deposit Rate 2.40 2.79 2.36
1 Month Deposit Rate 14.81 13.07 11.12
3 Months Deposit Rate 12.86 12.58 12.17
6 Months Deposit Rate 13.32 13.76 12.42
12 Months Deposit Rate 13.23 13.78 13.25
Prime Lending rate 19.34 19.39 18.91
Maximum Lending Rate 22.80 23.18 22.81
       

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

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Facts : 1/1/1900
Operation Feed the Nation (O.F.N.):Operation Feed the Nation was introduced by the federal military government headed by General Olusegun Obasanjo in 1979.It had the specific focus of increasing food production on the premise that availability of cheap food would ensure a higher nutrition level and invariably lead to national growth and development.OFN lasted till the civilian government of Alhaji Shehu Shagari in 1979.
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