Trending News: Who Is Afraid Of Fidelity Bank—By Udeme EtukeyenECOWAS Court orders Ghana to pay $75,000 for detaining 30 unlawfullyBREAKING: Simon Ekpa charged with inciting terrorismAl Qaeda affiliate kills ‘200’ Burkina Faso soldiers TheThree die, vehicle razed as gunmen attack police checkpoint in AnambraGunmen invade palace, abduct traditional ruler in KogiDAILIES TOP STORIES: Higher education: Public varsities, students in dire straits over blackouts, failed facilitiesLawyer shot dead in AnambraGunmen kill eight in Plateau community fresh attackNigerian man to get N20m after 16 years in detention without trialEXTRA: Uganda army chief threatens voters who don’t choose his fatherPolice re-arraign VDM over cyberbullying of Nollywood actresses, othersChris Brown arrested in UKNigeria’s inflation rate drops to 23.7%Tinubu establishes forest guards to ‘flush out terrorists’Reps move to make voting compulsory for NigeriansPhoto does not show Anambra teenager who allegedly impregnated 10 girlsDid soldiers engage in a clean-up exercise in Anambra to lure Southeast youths to join the Nigerian army?EFCC Removes Foreign National From CBEX Wanted ListDAILIES TOP STORIES: JAMB boss weeps as human error forces Lagos, S’East resitsJAMB admits to error in 2025 UTME, orders resit for 379,997 candidatesSouth-East threatens to dump PDP if denied national secretary positionTroops repel ‘ISWAP attack’ on military base in Borno73 Minors Arrested For Substance Abuse In BornoNnamdi Kanu: Court admits Gulak’s medical report, death certificate as evidenceUS Deports Six Nigerians For Various Offences83.4m people displaced globally – IOM reportBandits Kill Three In Taraba CommunityDAILIES TOP STORIES: Reps reject bills on rotational presidency, INEC’s power to register political partiesBREAKING: Five solders killed in fresh attack in Nigeria’s NortheastPolice clarify video of helicopter dropping weapons in forestCourt To Deliver Judgment On Natasha’s Suspension June 27Reps reject bill on rotational presidencyNigerians to be affected as US moves to tax diaspora money transfers21 dead, 10 hospitalised after drinking alcoholBREAKING: Police confirm CrimeFacts exclusive story on re-arrest of suspect who murdered Anambra lawmakerGunmen kidnap Immigration Officer in Benue, demand N20m ransomGunmen Kidnap APC Chairman In OndoPolice arrest Canadian, Nigerian over N452m, $210,000 fraud16-year-old Ebonyi female student fakes kidnap, demands N2m ransomIsraeli airstrike kills three journalists in GazaDAILIES TOP STORIES: 1,534,654 candidates petition JAMB over poor UTME performanceKemi Badenoch slams new UK immigration proposal, calls for stricter policiesHow ex-AGF diverted N868m defence funds using front companies – WitnessLandmine kills two education staff in BornoSouth-East Group Condemns Sandra Duru’s ‘False Assertions’ Against Senator NatashaIkenga torpedoes Anyanwu’s plot to install PDP BoT member, stamps authority with key nominationsBREAKING: FG begins overhaul of DisCosBandits abduct 5 traders in PlateauIPC director advises journalists to use AI with cautionUnrelated Image from Niger Republic, used to depict the arrest of ‘Mahmuda’ terrorists in Kwara StateIPoB shuts down Southeast states May 30 — fate of WAEC candidates uncertainMany soldiers feared killed as Boko Haram terrorists invade military base in BornoDangote refinery reduces ex-depot petrol price to N825/litresUNIJOS professor of medicine Chris Piwuna elected as ASUU presidentJAMB Orders Review Of 2025 UTME After OutrageUK ends overseas social care recruitmentEFCC Says Tompolo Has Questions To Answer Over Alleged Naira AbuseFire service rescue truck kills three teenagers in Abuja road collisionCourt orders return of $20,000 bribe collected by EFCC operative in Cleanserve MD caseSERAP urges CBN to disclose amounts disbursed to 774 LGAs from Federation AccountFalana alleges diversion of $3.4bn IMF loanDAILIES TOP STORIES: FG defies concerns, ramps up domestic borrowing to N10.85trnBandits Kill Retired Teacher, Abduct Wife, Two Others In Zamfara“Herdsmen kill 23 in Benue LGs”NDLEA Arrests Iran-Bound Woman Concealing Cocaine In Body, Bag At PH AirportAnambra, Lagos lead in UTME malpracticesAttack on Natasha, Ezekwesili, is mischief taken too farRobert Prevost elected as first American popeUgochinyere says Southeast PDP will nominate replacement for sacked scribe, AnyanwuWhite smoke rises over Vatican as the world awaits new PopeCourt Dismisses MultiChoice’s Suit Against FCCPCFG Debunks Viral Salt Advice, Warns Against Health RisksCourt remands 10 men over rape of 14-year-old disabled teenager in KadunaEFCC’s Witness Says No Fee Transfer From Kogi State Govt, LGAs To AISA AccountEFCC arrests ex-Jigawa lawmakerAkpabio sues Natasha over ‘apology’ videoIMF: Nigeria has cleared $3.4bn COVID-19 loanUPDATED: Police confirm human casualties, over 20 trucks set ablaze in Imo attack by Biafran agitatorsBREAKING: Biafran agitators raze trucks in two Imo LGsSandra Duru is Akpabio’s “Useful Idiot” – GroupEXCLUSIVE: Escaped suspected killer of Anambra lawmaker rearrested in DeltaPolice in Imo demote officer for assaulting traveler in viral video5 siblings die of food poisoning in Anambra, mother in critical conditionAnambra: Police discover burnt body of alleged car battery thiefDAILIES TOP STORIES: FG faults Reps, differs with Senate over security summitBREAKING: EFCC frees VeryDarkManLabour Party faction suspends Abia gov, two senatorsNigeria’s Weaponry Superior To Terrorists’ — Defence MinisterSenate Passes Two Tax Reform Bills18-year-old apprentice impregnates 10 girls in five months in Anambra— ReportCourt admits Kanu’s statement, broadcast recording calling for policemen’s killing as key evidenceArmy captain, soldier die as military repels Boko Haram in BornoEXTRA: Nigerian Governor Bans Sale Of AlcoholPolice arrest international fugitives wanted for human trafficking, robberyNTSB Links Wigwe’s Helicopter Crash To Pilot’s Spatial Disorientation, Company OversightDAILIES TOP STORIES: Plateau community decries security lapses as fresh attack claims sixSEC warns against new Ponzi scheme, PWANPregnant woman found hanging from tree in AnambraKanu admitted calling for attack on police officers, DSS witness tells court
Fri. May 23rd, 2025
Trending News: Who Is Afraid Of Fidelity Bank—By Udeme EtukeyenECOWAS Court orders Ghana to pay $75,000 for detaining 30 unlawfullyBREAKING: Simon Ekpa charged with inciting terrorismAl Qaeda affiliate kills ‘200’ Burkina Faso soldiers TheThree die, vehicle razed as gunmen attack police checkpoint in AnambraGunmen invade palace, abduct traditional ruler in KogiDAILIES TOP STORIES: Higher education: Public varsities, students in dire straits over blackouts, failed facilitiesLawyer shot dead in AnambraGunmen kill eight in Plateau community fresh attackNigerian man to get N20m after 16 years in detention without trialEXTRA: Uganda army chief threatens voters who don’t choose his fatherPolice re-arraign VDM over cyberbullying of Nollywood actresses, othersChris Brown arrested in UKNigeria’s inflation rate drops to 23.7%Tinubu establishes forest guards to ‘flush out terrorists’Reps move to make voting compulsory for NigeriansPhoto does not show Anambra teenager who allegedly impregnated 10 girlsDid soldiers engage in a clean-up exercise in Anambra to lure Southeast youths to join the Nigerian army?EFCC Removes Foreign National From CBEX Wanted ListDAILIES TOP STORIES: JAMB boss weeps as human error forces Lagos, S’East resitsJAMB admits to error in 2025 UTME, orders resit for 379,997 candidatesSouth-East threatens to dump PDP if denied national secretary positionTroops repel ‘ISWAP attack’ on military base in Borno73 Minors Arrested For Substance Abuse In BornoNnamdi Kanu: Court admits Gulak’s medical report, death certificate as evidenceUS Deports Six Nigerians For Various Offences83.4m people displaced globally – IOM reportBandits Kill Three In Taraba CommunityDAILIES TOP STORIES: Reps reject bills on rotational presidency, INEC’s power to register political partiesBREAKING: Five solders killed in fresh attack in Nigeria’s NortheastPolice clarify video of helicopter dropping weapons in forestCourt To Deliver Judgment On Natasha’s Suspension June 27Reps reject bill on rotational presidencyNigerians to be affected as US moves to tax diaspora money transfers21 dead, 10 hospitalised after drinking alcoholBREAKING: Police confirm CrimeFacts exclusive story on re-arrest of suspect who murdered Anambra lawmakerGunmen kidnap Immigration Officer in Benue, demand N20m ransomGunmen Kidnap APC Chairman In OndoPolice arrest Canadian, Nigerian over N452m, $210,000 fraud16-year-old Ebonyi female student fakes kidnap, demands N2m ransomIsraeli airstrike kills three journalists in GazaDAILIES TOP STORIES: 1,534,654 candidates petition JAMB over poor UTME performanceKemi Badenoch slams new UK immigration proposal, calls for stricter policiesHow ex-AGF diverted N868m defence funds using front companies – WitnessLandmine kills two education staff in BornoSouth-East Group Condemns Sandra Duru’s ‘False Assertions’ Against Senator NatashaIkenga torpedoes Anyanwu’s plot to install PDP BoT member, stamps authority with key nominationsBREAKING: FG begins overhaul of DisCosBandits abduct 5 traders in PlateauIPC director advises journalists to use AI with cautionUnrelated Image from Niger Republic, used to depict the arrest of ‘Mahmuda’ terrorists in Kwara StateIPoB shuts down Southeast states May 30 — fate of WAEC candidates uncertainMany soldiers feared killed as Boko Haram terrorists invade military base in BornoDangote refinery reduces ex-depot petrol price to N825/litresUNIJOS professor of medicine Chris Piwuna elected as ASUU presidentJAMB Orders Review Of 2025 UTME After OutrageUK ends overseas social care recruitmentEFCC Says Tompolo Has Questions To Answer Over Alleged Naira AbuseFire service rescue truck kills three teenagers in Abuja road collisionCourt orders return of $20,000 bribe collected by EFCC operative in Cleanserve MD caseSERAP urges CBN to disclose amounts disbursed to 774 LGAs from Federation AccountFalana alleges diversion of $3.4bn IMF loanDAILIES TOP STORIES: FG defies concerns, ramps up domestic borrowing to N10.85trnBandits Kill Retired Teacher, Abduct Wife, Two Others In Zamfara“Herdsmen kill 23 in Benue LGs”NDLEA Arrests Iran-Bound Woman Concealing Cocaine In Body, Bag At PH AirportAnambra, Lagos lead in UTME malpracticesAttack on Natasha, Ezekwesili, is mischief taken too farRobert Prevost elected as first American popeUgochinyere says Southeast PDP will nominate replacement for sacked scribe, AnyanwuWhite smoke rises over Vatican as the world awaits new PopeCourt Dismisses MultiChoice’s Suit Against FCCPCFG Debunks Viral Salt Advice, Warns Against Health RisksCourt remands 10 men over rape of 14-year-old disabled teenager in KadunaEFCC’s Witness Says No Fee Transfer From Kogi State Govt, LGAs To AISA AccountEFCC arrests ex-Jigawa lawmakerAkpabio sues Natasha over ‘apology’ videoIMF: Nigeria has cleared $3.4bn COVID-19 loanUPDATED: Police confirm human casualties, over 20 trucks set ablaze in Imo attack by Biafran agitatorsBREAKING: Biafran agitators raze trucks in two Imo LGsSandra Duru is Akpabio’s “Useful Idiot” – GroupEXCLUSIVE: Escaped suspected killer of Anambra lawmaker rearrested in DeltaPolice in Imo demote officer for assaulting traveler in viral video5 siblings die of food poisoning in Anambra, mother in critical conditionAnambra: Police discover burnt body of alleged car battery thiefDAILIES TOP STORIES: FG faults Reps, differs with Senate over security summitBREAKING: EFCC frees VeryDarkManLabour Party faction suspends Abia gov, two senatorsNigeria’s Weaponry Superior To Terrorists’ — Defence MinisterSenate Passes Two Tax Reform Bills18-year-old apprentice impregnates 10 girls in five months in Anambra— ReportCourt admits Kanu’s statement, broadcast recording calling for policemen’s killing as key evidenceArmy captain, soldier die as military repels Boko Haram in BornoEXTRA: Nigerian Governor Bans Sale Of AlcoholPolice arrest international fugitives wanted for human trafficking, robberyNTSB Links Wigwe’s Helicopter Crash To Pilot’s Spatial Disorientation, Company OversightDAILIES TOP STORIES: Plateau community decries security lapses as fresh attack claims sixSEC warns against new Ponzi scheme, PWANPregnant woman found hanging from tree in AnambraKanu admitted calling for attack on police officers, DSS witness tells court
Fri. May 23rd, 2025

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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