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Money Market Indicators (In Percentage)
  - 2008
Month October November December
Inter-Bank Call Rate 14.09 15.77 12.17
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 9.75 9.75 9.75
Treasury Bill Rate 7.72 6.90 5.61
Savings Deposit Rate 2.79 2.78 2.92
1 Month Deposit Rate 12.42 12.33 11.65
3 Months Deposit Rate 12.94 12.79 12.26
6 Months Deposit Rate 13.15 12.98 12.45
12 Months Deposit Rate 13.08 12.84 12.41
Prime Lending rate 14.81 14.58 15.26
Maximum Lending Rate 19.19 20.45 21.15
       

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

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Facts : 1/1/1900
Federal Ministry of Finance:The Federal Ministry of Finance (FMF) advises the Federal Government on its fiscal operations and collaborates with the Central Bank of Nigeria (CBN) on monetary matters. Before 1991, the responsibility for the supervision and licensing of banks was shared between FMF and CBN until 1991 when CBN became the sole authority.
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