Trending News: FG debunks report on Saudi entry ban for NigeriansRivers Police Spokesperson lied that officers didn’t fire tear gas at protesters despite video evidenceEFCC nabs man for buying bank account details, N2m fraudSuspects: We’re being forced to implicate Fubara’s CoS in Rivers assembly arsonBandits kill four, abduct 45 in KatsinaProtesters, journalists beaten up in Rivers, activists arrested in Yobe —Amnesty Int’l178,000 mothers, one million newborns die in Africa every year -WHOCBN Spends $669m To Defend Naira In Q1 2025 — ReportPolice fire tear gas at protesters in RiversLakurawa bandits Kill 13 Vigilantes In Kebbi StateReport reveals how Bobrisky smuggled ATM cards into Kirikiri prison, paid N35m to live comfortablyTwo Nigerians jailed in $4.9m U.S. tax refund fraud schemePolice disperse Abuja protesters with tear gasAbure’s men claim NLC planning to invade LP national secretariat over s’court verdictOil Declines As CBN Sells $198 Million To Support Naira15 injured as gas leakage from shop sparks explosion in LagosAbuse Of Process: Appointment Of Imo Chief Judge Illegal — NJC Anambra: After Six Hours Gun Battle, Operatives Dislodge Ogbunka Terror CampSelective Empathy: National Outrage in Edo-16 Killing, Silence in Plateau-52Bandits strike again, kill two Chinese expatriates, Policeman in AbiaGrenade mistaken for scrap metal explodes, kills scavenger, injures othersPolice recover body of site Engineer, killed, buried in shallow grave by his workersTeenager Dies After “Odeshi” Ritual goes wrongPolice withdraw invitation to Sanusi over Kano sallah incidentACF to FG: Stop killings in PlateauPolice warn ‘Take It Back Movement’ to cancel April 7 protestTwo brother murdered in morning farm attack in TarabaNCoS denies illegal detention of Patience Jonathan’s ex-staffNigeria faces meningitis outbreak with 151 deaths 1,826 suspected casesTwo military officers die as troops kill Boko Haram terrorists in Borno villageNDLEA arrests grandfather, siblings for drugsBorno government detains teenager for criticizing “poor condition of public schools”Tens Of Thousands March In US Against TrumpNDLEA uncovers cocaine hidden inside suitcase wallsUS To Revoke All Visas For South Sudanese Passport Holders45 Die In Abuja, Ogun Multiple Auto CrashesCarpenter electrocuted while roofing building in AnambraS’African agencies slam judge for acquitting Nigerian pastor of rapeNYSC: Education minister advocates extending national service to two yearsReject $1.08bn World Bank loan, probe missing N233bn in NBET, other funds, SERAP tells TinubuNigeria imports N11.8bn apples — ReportDAILIES TOP STORIES: Governors Await Federal Govt’s Blueprint On State Police Take-offNo! Photo of burnt Plateau yam market attributed to bandits’ attack recently, was a fire incident in 2021IG invites Emir Sanusi over violent Kano Sallah incidentEx-Nigerian First Lady’s Aides Continue to Languish In Prison Over Alleged Jewelry TheftNigeria’s debt soars to N144.67tn in 2024Police disown, arrest man threatening reprisal over Edo killingsDAILIES TOP STORIES: Labour Party dispute deepens as Supreme Court sacks Abure as National ChairmanGunmen Kidnap Female Ebonyi Government OfficialDeath toll in Plateau attacks hits 52Vandals damage gas pipeline in BayelsaAnambra court orders continued detention of three native doctorsUS Tariffs Could Shrink Global Merchandise Trade Volumes 1% In 2025 – WTOWomen still shut out of leadership in health sector -ReportGunmen kill two in Benue highway attackIN THE NEWS: Court stops Natasha, Akpabio from media interviewsBREAKING: Supreme Court Sets Aside Judgement Recognizing Abure As Labour Party National ChairmanOver 200,000 Nigerians patronise dating sites — ReportCourt stops Police, SSS from inviting, arresting, detaining Rivers COS, EhieHyenas nearly killed me in kidnappers’ den – Ex-NYSC DGI Will Soon Present Sexual Assault Evidence Against Akpabio — NatashaSouth Korea court sacks Yoon Keol as presidentJAMB uncovers 142 Kano varsity applicants with fake resultsDAILIES TOP STORIES: Trump’s tariff threatens $10bn US-Nigeria tradeProtest looms in RiversWike dismisses rumors of collapseRetired policeman kills three, self over land disputeGunmen kill 15 in Plateau community in fresh attackOil dealer regains freedom from abductors in Abia one month afterTwo workers nabbed for killng farm manager in DeltaPassengers injured as LAGFERRY boat catches fire at Ikorodu terminalBandit kingpin, Bello Turji kills 11 farmers in SokotoBREAKING: INEC rejects petition to recall Senator NatashaTrump imposes 14% tariff on Nigerian exports to USIghodalo Heads To Appeal Court After Okpebholo’s Tribunal VictoryEx-NYSC DG, Gen. Tsiga regains freedom after 56 days in captivityDAILIES TOP STORIES: More heads to roll in NNPCL, subsidiaries as Ojulari assumes officeWorld Bank approves Nigeria’s $1.13bn loan requeSouth African court acquits Nigerian pastor of rape charges after eight years in jailKaduna police officer threatens retaliation against Southerners over Uromi killingsEdo tribunal declines to nullify Gov Okpebholo’s election2 dead, 13 missing in Bayelsa boat mishapTinubu To Embark On Working Visit To ParisTiger Base Police: FMC Owerri Keeps Mum On Corpses Dump At Morgue, Lawyers Demand Removal Of Oladimeji (5)Tiger Base Police: How Commander Oladimeji Implicated Unit In Death Of Detainee (4)Investigation Shows More Materials Exposing Protracted Extortion, Corruption At Tiger Base Police (3)DAILIES TOP STORIES: :FG Borrows N13.21trn From World Bank In 20 MonthsEbonyi governor orders arrest of six commissioners, LG chairUromi Killings: DSS Operatives Arrest Two Principal SuspectsTinubu sacks NNPCL boss Kyari, names Ojulari as replacementMan sets brother’s N20m farm ablaze in OndoLabourer hacks 60-yr-old female farmer to death in OndoSoldier cuts off shoe seller’s fingers over payment disputeThunder strike kills herder, 12 cows in Kaduna CommunityKogi Govt Reports Senator Natasha To Security Agencies After RallyLeaked Edo gov tribunal judgement sparks controversyEXTRA: I feel depressed over Rivers emergency rule, says FubaraPonzi scheme operators risk jail term, N20m fine, SEC warnsRivers pastor arrested for alleged homosexuality, charged to courtBenue youths protest herdsmen killings
Tue. Apr 8th, 2025 1:38:14 AM
Trending News: FG debunks report on Saudi entry ban for NigeriansRivers Police Spokesperson lied that officers didn’t fire tear gas at protesters despite video evidenceEFCC nabs man for buying bank account details, N2m fraudSuspects: We’re being forced to implicate Fubara’s CoS in Rivers assembly arsonBandits kill four, abduct 45 in KatsinaProtesters, journalists beaten up in Rivers, activists arrested in Yobe —Amnesty Int’l178,000 mothers, one million newborns die in Africa every year -WHOCBN Spends $669m To Defend Naira In Q1 2025 — ReportPolice fire tear gas at protesters in RiversLakurawa bandits Kill 13 Vigilantes In Kebbi StateReport reveals how Bobrisky smuggled ATM cards into Kirikiri prison, paid N35m to live comfortablyTwo Nigerians jailed in $4.9m U.S. tax refund fraud schemePolice disperse Abuja protesters with tear gasAbure’s men claim NLC planning to invade LP national secretariat over s’court verdictOil Declines As CBN Sells $198 Million To Support Naira15 injured as gas leakage from shop sparks explosion in LagosAbuse Of Process: Appointment Of Imo Chief Judge Illegal — NJC Anambra: After Six Hours Gun Battle, Operatives Dislodge Ogbunka Terror CampSelective Empathy: National Outrage in Edo-16 Killing, Silence in Plateau-52Bandits strike again, kill two Chinese expatriates, Policeman in AbiaGrenade mistaken for scrap metal explodes, kills scavenger, injures othersPolice recover body of site Engineer, killed, buried in shallow grave by his workersTeenager Dies After “Odeshi” Ritual goes wrongPolice withdraw invitation to Sanusi over Kano sallah incidentACF to FG: Stop killings in PlateauPolice warn ‘Take It Back Movement’ to cancel April 7 protestTwo brother murdered in morning farm attack in TarabaNCoS denies illegal detention of Patience Jonathan’s ex-staffNigeria faces meningitis outbreak with 151 deaths 1,826 suspected casesTwo military officers die as troops kill Boko Haram terrorists in Borno villageNDLEA arrests grandfather, siblings for drugsBorno government detains teenager for criticizing “poor condition of public schools”Tens Of Thousands March In US Against TrumpNDLEA uncovers cocaine hidden inside suitcase wallsUS To Revoke All Visas For South Sudanese Passport Holders45 Die In Abuja, Ogun Multiple Auto CrashesCarpenter electrocuted while roofing building in AnambraS’African agencies slam judge for acquitting Nigerian pastor of rapeNYSC: Education minister advocates extending national service to two yearsReject $1.08bn World Bank loan, probe missing N233bn in NBET, other funds, SERAP tells TinubuNigeria imports N11.8bn apples — ReportDAILIES TOP STORIES: Governors Await Federal Govt’s Blueprint On State Police Take-offNo! Photo of burnt Plateau yam market attributed to bandits’ attack recently, was a fire incident in 2021IG invites Emir Sanusi over violent Kano Sallah incidentEx-Nigerian First Lady’s Aides Continue to Languish In Prison Over Alleged Jewelry TheftNigeria’s debt soars to N144.67tn in 2024Police disown, arrest man threatening reprisal over Edo killingsDAILIES TOP STORIES: Labour Party dispute deepens as Supreme Court sacks Abure as National ChairmanGunmen Kidnap Female Ebonyi Government OfficialDeath toll in Plateau attacks hits 52Vandals damage gas pipeline in BayelsaAnambra court orders continued detention of three native doctorsUS Tariffs Could Shrink Global Merchandise Trade Volumes 1% In 2025 – WTOWomen still shut out of leadership in health sector -ReportGunmen kill two in Benue highway attackIN THE NEWS: Court stops Natasha, Akpabio from media interviewsBREAKING: Supreme Court Sets Aside Judgement Recognizing Abure As Labour Party National ChairmanOver 200,000 Nigerians patronise dating sites — ReportCourt stops Police, SSS from inviting, arresting, detaining Rivers COS, EhieHyenas nearly killed me in kidnappers’ den – Ex-NYSC DGI Will Soon Present Sexual Assault Evidence Against Akpabio — NatashaSouth Korea court sacks Yoon Keol as presidentJAMB uncovers 142 Kano varsity applicants with fake resultsDAILIES TOP STORIES: Trump’s tariff threatens $10bn US-Nigeria tradeProtest looms in RiversWike dismisses rumors of collapseRetired policeman kills three, self over land disputeGunmen kill 15 in Plateau community in fresh attackOil dealer regains freedom from abductors in Abia one month afterTwo workers nabbed for killng farm manager in DeltaPassengers injured as LAGFERRY boat catches fire at Ikorodu terminalBandit kingpin, Bello Turji kills 11 farmers in SokotoBREAKING: INEC rejects petition to recall Senator NatashaTrump imposes 14% tariff on Nigerian exports to USIghodalo Heads To Appeal Court After Okpebholo’s Tribunal VictoryEx-NYSC DG, Gen. Tsiga regains freedom after 56 days in captivityDAILIES TOP STORIES: More heads to roll in NNPCL, subsidiaries as Ojulari assumes officeWorld Bank approves Nigeria’s $1.13bn loan requeSouth African court acquits Nigerian pastor of rape charges after eight years in jailKaduna police officer threatens retaliation against Southerners over Uromi killingsEdo tribunal declines to nullify Gov Okpebholo’s election2 dead, 13 missing in Bayelsa boat mishapTinubu To Embark On Working Visit To ParisTiger Base Police: FMC Owerri Keeps Mum On Corpses Dump At Morgue, Lawyers Demand Removal Of Oladimeji (5)Tiger Base Police: How Commander Oladimeji Implicated Unit In Death Of Detainee (4)Investigation Shows More Materials Exposing Protracted Extortion, Corruption At Tiger Base Police (3)DAILIES TOP STORIES: :FG Borrows N13.21trn From World Bank In 20 MonthsEbonyi governor orders arrest of six commissioners, LG chairUromi Killings: DSS Operatives Arrest Two Principal SuspectsTinubu sacks NNPCL boss Kyari, names Ojulari as replacementMan sets brother’s N20m farm ablaze in OndoLabourer hacks 60-yr-old female farmer to death in OndoSoldier cuts off shoe seller’s fingers over payment disputeThunder strike kills herder, 12 cows in Kaduna CommunityKogi Govt Reports Senator Natasha To Security Agencies After RallyLeaked Edo gov tribunal judgement sparks controversyEXTRA: I feel depressed over Rivers emergency rule, says FubaraPonzi scheme operators risk jail term, N20m fine, SEC warnsRivers pastor arrested for alleged homosexuality, charged to courtBenue youths protest herdsmen killings
Tue. Apr 8th, 2025 1:38:14 AM

CBN orders banks to pay 10%of MPR as interest on savings deposit


The Central Bank of Nigeria (CBN) has ordered banks to henceforth pay 10% of it’s Monetary Policy Rate (MPR) as the minimum interest rate on savings deposit.

The MPR is the benchmark interest rate of the CBN and it is presently 12.5 per cent. This implies bank customers will now get 1.25 per cent as a minimum interest rate on their savings deposit.

The apex bank announced the peg in a directive to banks signed by Bello Hassan, Director of Banking Supervision, CBN.

“All deposit money banks are hereby informed that effective September 1, 2020, interest on local currency savings deposit shall be negotiated subject to a minimum of 10percent of Monetary Policy Rate (MPR)”, the CBN said.

    • Pascal Arogorn Ibe

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