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Money Market Indicators (In Percentage)
  - 2014
Month January February
Inter-Bank Call Rate 10.00 10.50
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 12.00 12.00
Treasury Bill Rate 10.81 11.82
Savings Deposit Rate 3.27 3.26
1 Month Deposit Rate 8.21 8.41
3 Months Deposit Rate 9.29 9.48
6 Months Deposit Rate 9.40 9.60
12 Months Deposit Rate 9.04 9.30
Prime Lending rate 16.95 16.93
Maximum Lending Rate 25.52 25.83

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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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