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Money Market Indicators (In Percentage)

Money Market Indicators (In Percentage)
  2017
Month June July August
Inter-Bank Call Rate 13.46 12.28 22.63
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 14.00 14.00 14.00
Treasury Bill Rate 13.50 13.46 13.35
Savings Deposit Rate 4.08 4.08 4.08
1 Month Deposit Rate 8.65 8.85 8.86
3 Months Deposit Rate 9.01 9.71 10.14
6 Months Deposit Rate 10.68 11.24 11.51
12 Months Deposit Rate 11.15 10.27 11.40
Prime Lending rate 17.59 17.65 17.69
Maximum Lending Rate 30.94 30.94 31.20
       

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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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