Trending News: Supreme court affirms final forfeiture of properties, $2m linked to EmefieleAndy Burnham elected new Labour leader, to succeed Starmer as UK PMEXTRA: I spent money campaigning for Obi, he never appreciated me – Isaac FayoseFG arraigns three over Oyo schoolchildren, teachers’ abductionNDLEA declares suspected drug kingpin, 3 associates wanted, freezes N9.8bnFG renames Lagos-Calabar Coastal Highway after TinubuIPC’s Arogundade elected to IFEX global councilCourt bars FRSC from operating on state, LG roadsBandits kill vigilante leader in KatsinaSecurity operatives rescue four abducted in Kogi school attackAppeal court dismisses judgment nullifying INEC deadlines for 2027 electionsGbaja sues PFIPC’s Adeniyi Adeyemi for N15bn over alleged defamationCourt forfeits Achimugu’s N8.9bn assets to FGTrump limits foreign students to four-year US stayPolice arrest Asaba content creator over alleged rapeUS, Iran trade fresh strikes as Hormuz conflict escalatesUS reps pass bill to withhold all assistance to Nigeria until terror attacks are addressedSix killed as gas truck explodes at Kogi Army checkpointCourt orders final forfeiture of 48 property linked to ex-AGF MalamiPolice constable recruitment: PSC releases names of 50,000 successful candidatesCourt grants ex-CCT chairman Danladi N100m bail in ‘corruption’ trialNigeria’s inflation rate drops slightly to 15.91%Senate approves ₦50m for families of security personnel, teachers killed in Oyo rescue operationGunmen abduct principal, four students writing NECO exam in KogiNigerian priest in US dies by suicideWe’ll report ‘fake’ DG’s arrest to Trump gov’t – Atiku-linked US firmPolice confirm arrest of ‘fake’ agency DG Adeyemi in OsunTrump Backtracks On Plan To Toll Hormuz ShipsCourt orders arrest of ‘Fake’ agency DG, AdeniyiBeheaded body found at UNIJOS permanent site, head missingReps Drop Own State Police Bill, Considers Tinubu’s Proposal‘We will strike powerfully if you attack us’ – Israel’s Netanyahu tells IranUS strikes Iran, vows to reimpose naval blockadeCourt sentences man to 20 years in prison for concealing information about notorious banditNo immigrant should stay in UK forever, Kemi Badenoch tells LabourPro-Atiku US lobbying firm offers to help Adeniyi Adeyemi seek asylum over PFIPC scandalAppeal court affirms judgment barring INEC from recognising ADC state congressesUS could take over Strait of Hormuz, seek payment for security – TrumpRescued Oyo school principal breaks silence over killing of teachersBlogger Arraigned Over Alleged False Reports On Soludo’s FamilyFake agency DG says his life in dangerFG suspends planned increase in WAEC, NECO registration feesTroops kill ISWAP cameraman, identify Palestinian terrorist trainer, Moroccan doctor in Borno forestFormer Minister Nnaji Pleads Not Guilty To Certificate Forgery ChargesPolice arrest two Nigerians over murder of compatriot in GhanaGunmen kidnap 60-year-old Oyo headmaster, demand N30m ransomOver 27 people killed Benue, Plateau attacksNotorious bandit kingpin Sani Yellow killed in ZamfaraLeadership Is the Missing Ingredient in Police ReformIran closes Strait of Hormuz, launches fresh strikes on US bases in Middle EastSERAP sues INEC over claims APC govs diverted N800bn for campaignNDLEA arrests South African woman with heroin at Abuja airportThree Mexicans, seven others remanded over N480bn meth labEXTRA: US will decimate Iran if I’m assassinated, says TrumpTokyo police arrest Nigerian for toutingHow 44 abducted Oyo pupils, teachers were rescued – ArmyOyo abduction: Eight kidnappers arrested, others killed, says PresidencyAll kidnapped Ogbomoso pupils, teachers rescued — OfficialCourt grants N200m bail to female executive arraigned by EFCC for laundering $600,000Tinubu retains Shettima as running mate for 2027, submits APC nomination formsTrump says US agrees to more Iran talks but ceasefire ‘over’Nepalese alleges police officers at force HQ aided N1.6bn travel scamHow to report fraud cases to EFCCScam Alert: PSC disowns fake recruitment notice claiming postings under ‘State Police Act 2026’Interpol arrests 5,811 suspects, intercepts $293m in anti-scam operation across 97 countriesCourt remands ex-CCT chair Danladi Umar over alleged abuse of officeEFCC arraigns Miyetti Allah president over ‘$2.63m money launderingUS publishes names, photos of 124 Nigerians to be deported for crimesGunmen kill three in fresh Plateau attackDSS arrests journalist who covers Sowore ‘for possessing drone without certificate’Bandits threatened to kill Oyo pupils if troops came closer — Defence MinisterPolice arrest man for hacking father to death over property in RiversOnanuga: Obi fabricating stories to gain undue sympathyUS, Iran trade new strikes in fight over Hormuz straitIMF: Rising cost of essentials to push more Nigerians into povertyEight Iran military personnel killed in US strikes – State mediaEx-Port Harcourt refinery MD arraigned over ‘money laundering’, granted N150m bailPFIPC scandal: Fake agency DG now claims he’s unsure of Gbaja’s involvementNEWS EXTRA: Don’t wait for order before shooting terrorists, Defence minister tells soldiersPFIPC scandal: ‘Fake’ DG deceived me with Presidency letterhead — KaluFACT-CHECK: Vanguard makes false claim about Morocco’s World Cup recordEXTRA: I might not be alive to contest in 2027 – Peter ObiStandard, Commemorative ₦100 Notes Remain Legal Tender – CBNGunmen Kidnap Three Federal University Of Lafia StudentsCourt remands lecturer who accused Katsina of sponsoring bandits to HajiIran Ceasefire ‘Is Over’ — TrumpUganda Bar Association bans bowing to judgesI’ll cooperate with ICPC probe of PFIPC scandal – Embattled ‘DGI deposited billions in cash for Emefiele, witness tells courtUS Launches ‘Powerful’ Strikes On Iran After Hormuz AttacksICPC arrests el-Rufai’s doctor over ‘political meeting’ during consultationGhana defers Ramaphosa’s visit over anti-migrant attacks in South AfricaSuspected jihadists kill at least 22 soldiers, militia in Burkina FasoPSC dismisses four senior police officers, demotes 10Tinubu orders ICPC to probe presidential intervention councilChinese court sentences ex-city official to death over $325m bribe‘Fake Agency’: Gbajabiamila threatens Adeyemi with N10bn suit over murder, bribery claimsVenezuela Earthquakes: Death Toll Rises To 3,535How US is using cash, threats to dump migrants in Africa — ReportGunmen attack Rivers community, kill two
Fri. Jul 17th, 2026
Trending News: Supreme court affirms final forfeiture of properties, $2m linked to EmefieleAndy Burnham elected new Labour leader, to succeed Starmer as UK PMEXTRA: I spent money campaigning for Obi, he never appreciated me – Isaac FayoseFG arraigns three over Oyo schoolchildren, teachers’ abductionNDLEA declares suspected drug kingpin, 3 associates wanted, freezes N9.8bnFG renames Lagos-Calabar Coastal Highway after TinubuIPC’s Arogundade elected to IFEX global councilCourt bars FRSC from operating on state, LG roadsBandits kill vigilante leader in KatsinaSecurity operatives rescue four abducted in Kogi school attackAppeal court dismisses judgment nullifying INEC deadlines for 2027 electionsGbaja sues PFIPC’s Adeniyi Adeyemi for N15bn over alleged defamationCourt forfeits Achimugu’s N8.9bn assets to FGTrump limits foreign students to four-year US stayPolice arrest Asaba content creator over alleged rapeUS, Iran trade fresh strikes as Hormuz conflict escalatesUS reps pass bill to withhold all assistance to Nigeria until terror attacks are addressedSix killed as gas truck explodes at Kogi Army checkpointCourt orders final forfeiture of 48 property linked to ex-AGF MalamiPolice constable recruitment: PSC releases names of 50,000 successful candidatesCourt grants ex-CCT chairman Danladi N100m bail in ‘corruption’ trialNigeria’s inflation rate drops slightly to 15.91%Senate approves ₦50m for families of security personnel, teachers killed in Oyo rescue operationGunmen abduct principal, four students writing NECO exam in KogiNigerian priest in US dies by suicideWe’ll report ‘fake’ DG’s arrest to Trump gov’t – Atiku-linked US firmPolice confirm arrest of ‘fake’ agency DG Adeyemi in OsunTrump Backtracks On Plan To Toll Hormuz ShipsCourt orders arrest of ‘Fake’ agency DG, AdeniyiBeheaded body found at UNIJOS permanent site, head missingReps Drop Own State Police Bill, Considers Tinubu’s Proposal‘We will strike powerfully if you attack us’ – Israel’s Netanyahu tells IranUS strikes Iran, vows to reimpose naval blockadeCourt sentences man to 20 years in prison for concealing information about notorious banditNo immigrant should stay in UK forever, Kemi Badenoch tells LabourPro-Atiku US lobbying firm offers to help Adeniyi Adeyemi seek asylum over PFIPC scandalAppeal court affirms judgment barring INEC from recognising ADC state congressesUS could take over Strait of Hormuz, seek payment for security – TrumpRescued Oyo school principal breaks silence over killing of teachersBlogger Arraigned Over Alleged False Reports On Soludo’s FamilyFake agency DG says his life in dangerFG suspends planned increase in WAEC, NECO registration feesTroops kill ISWAP cameraman, identify Palestinian terrorist trainer, Moroccan doctor in Borno forestFormer Minister Nnaji Pleads Not Guilty To Certificate Forgery ChargesPolice arrest two Nigerians over murder of compatriot in GhanaGunmen kidnap 60-year-old Oyo headmaster, demand N30m ransomOver 27 people killed Benue, Plateau attacksNotorious bandit kingpin Sani Yellow killed in ZamfaraLeadership Is the Missing Ingredient in Police ReformIran closes Strait of Hormuz, launches fresh strikes on US bases in Middle EastSERAP sues INEC over claims APC govs diverted N800bn for campaignNDLEA arrests South African woman with heroin at Abuja airportThree Mexicans, seven others remanded over N480bn meth labEXTRA: US will decimate Iran if I’m assassinated, says TrumpTokyo police arrest Nigerian for toutingHow 44 abducted Oyo pupils, teachers were rescued – ArmyOyo abduction: Eight kidnappers arrested, others killed, says PresidencyAll kidnapped Ogbomoso pupils, teachers rescued — OfficialCourt grants N200m bail to female executive arraigned by EFCC for laundering $600,000Tinubu retains Shettima as running mate for 2027, submits APC nomination formsTrump says US agrees to more Iran talks but ceasefire ‘over’Nepalese alleges police officers at force HQ aided N1.6bn travel scamHow to report fraud cases to EFCCScam Alert: PSC disowns fake recruitment notice claiming postings under ‘State Police Act 2026’Interpol arrests 5,811 suspects, intercepts $293m in anti-scam operation across 97 countriesCourt remands ex-CCT chair Danladi Umar over alleged abuse of officeEFCC arraigns Miyetti Allah president over ‘$2.63m money launderingUS publishes names, photos of 124 Nigerians to be deported for crimesGunmen kill three in fresh Plateau attackDSS arrests journalist who covers Sowore ‘for possessing drone without certificate’Bandits threatened to kill Oyo pupils if troops came closer — Defence MinisterPolice arrest man for hacking father to death over property in RiversOnanuga: Obi fabricating stories to gain undue sympathyUS, Iran trade new strikes in fight over Hormuz straitIMF: Rising cost of essentials to push more Nigerians into povertyEight Iran military personnel killed in US strikes – State mediaEx-Port Harcourt refinery MD arraigned over ‘money laundering’, granted N150m bailPFIPC scandal: Fake agency DG now claims he’s unsure of Gbaja’s involvementNEWS EXTRA: Don’t wait for order before shooting terrorists, Defence minister tells soldiersPFIPC scandal: ‘Fake’ DG deceived me with Presidency letterhead — KaluFACT-CHECK: Vanguard makes false claim about Morocco’s World Cup recordEXTRA: I might not be alive to contest in 2027 – Peter ObiStandard, Commemorative ₦100 Notes Remain Legal Tender – CBNGunmen Kidnap Three Federal University Of Lafia StudentsCourt remands lecturer who accused Katsina of sponsoring bandits to HajiIran Ceasefire ‘Is Over’ — TrumpUganda Bar Association bans bowing to judgesI’ll cooperate with ICPC probe of PFIPC scandal – Embattled ‘DGI deposited billions in cash for Emefiele, witness tells courtUS Launches ‘Powerful’ Strikes On Iran After Hormuz AttacksICPC arrests el-Rufai’s doctor over ‘political meeting’ during consultationGhana defers Ramaphosa’s visit over anti-migrant attacks in South AfricaSuspected jihadists kill at least 22 soldiers, militia in Burkina FasoPSC dismisses four senior police officers, demotes 10Tinubu orders ICPC to probe presidential intervention councilChinese court sentences ex-city official to death over $325m bribe‘Fake Agency’: Gbajabiamila threatens Adeyemi with N10bn suit over murder, bribery claimsVenezuela Earthquakes: Death Toll Rises To 3,535How US is using cash, threats to dump migrants in Africa — ReportGunmen attack Rivers community, kill two
Fri. Jul 17th, 2026

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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