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Money Market Indicators (In Percentage)

Money Market Indicators (In Percentage)
  2015
Month October November December
Inter-Bank Call Rate 3.22 0.84 0.77
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 13.00 11.00 11.00
Treasury Bill Rate 9.11 5.62 4.57
Savings Deposit Rate 3.71 3.47 3.33
1 Month Deposit Rate 8.50 6.94 7.11
3 Months Deposit Rate 9.14 6.49 6.91
6 Months Deposit Rate 9.11 5.66 5.78
12 Months Deposit Rate 7.72 4.80 4.88
Prime Lending rate 16.84 16.98 16.96
Maximum Lending Rate 27.01 27.02 26.84
       

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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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