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Money Market Indicators (In Percentage)

Money Market Indicators (In Percentage)
  2023
Month January February March
Inter-Bank Call Rate 10.35 12.54 14.75
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 17.50 17.50 18.00
Treasury Bill Rate 1.39 2.09 3.81
Savings Deposit Rate 4.29 4.30 4.58
1 Month Deposit Rate 8.18 7.56 7.12
3 Months Deposit Rate 8.76 7.78 7.63
6 Months Deposit Rate 7.35 8.91 9.35
12 Months Deposit Rate 7.79 8.84 7.84
Prime Lending rate 13.67 13.62 13.97
Maximum Lending Rate 27.63 28.75 28.08
       

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

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Facts : 1/16/2006
The Cowry:The Cowry has, for centuries, served our people as an important form of currency. In 1860 the following system was in use: 40 Cowries formed a "String"; 50 Strings made a "head" and 10 heads comprised a "bag". In Lagos in 1865 one bag of 20,000 shells was exchanged for one or two English Pounds.
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