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Data & Statistics

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Money Market Indicators (In Percentage)
  - 2016
Month January February March
Inter-Bank Call Rate 2.04 2.67 4.32
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 11.00 11.00 12.00
Treasury Bill Rate 4.12 4.91 5.53
Savings Deposit Rate 3.29 3.29 3.26
1 Month Deposit Rate 6.87 6.92 7.01
3 Months Deposit Rate 6.74 6.79 6.90
6 Months Deposit Rate 5.98 5.91 5.97
12 Months Deposit Rate 5.12 5.22 5.29
Prime Lending rate 16.54 16.72 16.82
Maximum Lending Rate 26.77 26.73 26.93
       

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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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