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Money Market Indicators (In Percentage)

Money Market Indicators (In Percentage)
  2020
Month October November December
Inter-Bank Call Rate 0.00 0.00 1.25
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 11.50 11.50 11.50
Treasury Bill Rate 0.86 0.03 0.03
Savings Deposit Rate 1.87 1.84 2.04
1 Month Deposit Rate 2.24 1.92 1.64
3 Months Deposit Rate 3.52 2.90 2.74
6 Months Deposit Rate 2.72 2.84 2.65
12 Months Deposit Rate 4.99 4.89 5.99
Prime Lending rate 11.31 11.60 11.35
Maximum Lending Rate 28.36 28.85 28.31
       

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

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Facts : 1/7/1959
Evolution of Departments:At inception, the organisational structure of the CBN was understandably simple consisting of two departments, namely, the General Manager's and the Secretary's Departments, with the appropriate division of labour as then percieved. The General Manager's Department was responsible for all the Department banking, currency issues, debt management and other operational functions of the bank while the Secretary's Department handled the administrative and staff matters, carried out some research into the economic and financial conditions, and collected and analysed relevant statistics for policy formulation.
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