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Money Market Indicators (In Percentage)

Money Market Indicators (In Percentage)
  2022
Month October November December
Inter-Bank Call Rate 0.00 12.25 12.00
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 15.50 16.50 16.50
Treasury Bill Rate 6.49 6.50 4.35
Savings Deposit Rate 3.77 3.93 4.13
1 Month Deposit Rate 7.04 7.38 8.15
3 Months Deposit Rate 8.01 8.45 8.79
6 Months Deposit Rate 7.43 8.98 8.68
12 Months Deposit Rate 7.07 7.87 8.22
Prime Lending rate 12.23 13.17 13.85
Maximum Lending Rate 28.06 28.14 29.13
       

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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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