Trending News: P-Square’s Peter Testifies Against Elder Brother In N1.3bn fraud trialTwo Killed In Niger State Mine CollapseSecurity operatives fire teargas at pro-Fubara protesters —but turn blind eye on Rivers demonstrators supporting emergency rulePeter Obi discloses how Benue gov stopped him from coming to his statePlateau killings death toll rises to 54, says Amnesty13 million displaced as Sudan war enters third year – ReportFBI: Tinubu Enjoys Immunity, Won’t Be Prosecuted, Says AnalystPDP governors vow no merger in 2027Rivers’ N300m was a gift, not hosting fee – NBABenue gov warns visitors to inform him first before coming to State over insecurityChief Magistrate In Rivers Resigns Over ‘Quasi-Military’ Leadership In StateFans stab Nigeria’s local league player, club sanctionedBlackout looms in Nigeria over N4trn debtWomen Protest In Support Of Rivers Emergency RuleOPEC Cuts 2025 Oil Demand Forecast Over US Tariffs8 Shortlisted applicants for Kwara govt job fail drug test, lose slotsEkiti court sentences two to death for kidnapping, armed robberySix feared dead as plane crashes in New YorkPolice dismiss officer who killed one, injured two in CalabarRivers asks NBA to refund N300m confab hosting rightsSwiss woman abducted in Niger RepublicNine-month-old baby, woman die while returning from burial in EbonyiUPDATED: Bandits invade another Plateau community, kill over 51 peopleINVESTIGATION: Dilapidated Schools Litter Imo State As Education Gulps #159bn In Five Years Abuse of Process: Imo Chief Judge, Nzeukwu Risks Suspension by NJCKilling in the Plateau: It’s Genocide, Not Ethno-Religious Conflict, Says Natasha Akpoti-Uduaghan“Tell Your Papa”: Banning a song for criticizing Govt, unlawful – AmnestyHeartbreaking story of Alabi Quadri, the boy who believed in a better NigeriaTinubu’s Files: Presidency reacts on US Court DirectiveMan in Police net for killing mother over business dealBandits set Mosque ablaze in ZamfaraNigerian Varsity Fires Three Lecturers Over Sexual HarassmentFalana asks youths to reclaim NigeriaThree-storey collapses in LagosHow 13 children were kidnapped from Kaduna to EnuguNigeria allocated additional $200m to health in 2025 budget – WHOMen caught with firearms are Kano hunters, not herdsmen – Edo policeMilitary uncovers plot to establish ISWAP bases in Plateau, BauchiNigerian PhD Student Pleads Guilty To Multiple Fraud In USNDLEA nabs Malaysian returnee with Meth hidden in music speakersWole Soyinka slams NBC for banning Eedris Abdulkareem’s protest songGunmen kill NSCDC officer in Nigeria’s South-SouthMany Dead’ After Russian Strike On Ukrainian CityReport: Vehicle stolen during Juma’at prayer in FCT no longer attached to NSA officeKano rejects ECOWAS court ruling on blasphemy lawsSERAP tells Akpabio, Abbas to withdraw ‘repressive bill to regulate blogger” or face legal actionCannabis-smoking mother bags life jail for drowning two sonsDAILIES TOP STORIES: Another set of four hunters from Kano found with arms, ammunition in EdoBREAKING: Explosion Kills Seven, Injures Several Commuters In BornoFather, two sons killed in Plateau villageNDLEA Destroys Largest Drugs Seizure Of 1.6 Million KilogramsEXTRA: Masquerades lead protest against high electricity bill in KwaraNo! Current Imo Assembly Speaker Didn’t Commission Betting ShopUS embassy announces new visa interview requirements for NigeriansBandit Kingpin Gwaska, Over 100 Others Killed In KatsinaDAILIES TOP STORIES: Resurgent terror attacks unsettle Nigeria’s Northern regionECOWAS court faults Kano’s blasphemy laws, asks Nigeria to amend statutesProtest: Rivers CP removes DPO over’ assault on journalistsCourt orders DCP Abba Kyari to enter defence in ‘drug trafficking’ trialSiemens CEO, family die in New York helicopter crashFG imposes 10-year entry bans for visa overstays, $15 daily fine from August 1REVEALED: Parody X account impersonating Senator Natasha Akpoti-Uduaghan spottedRivers Women Stage ‘Bring Back Our Fubara’ Protest In Port HarcourtBandits Release Abducted Pastor In Kaduna, Detain Ransom CarrierKogi central constituents sue Akpabio, senate over Natasha Akpoti’s suspensionChina hits US with 125% retaliatory tariffs as trade war escalatesSERAP gives FG, NBC 48-hour to reverse Eedris Abdulkareem’s song banEx-Kwara governor Ahmed didn’t repay N1bn SUBEB loan, EFCC witness tells courtEFCC plays video evidence in ex-minister Saleh Mamman’s ‘N33bn fraud’ trialPolice Rescue Abducted Ebonyi Govt Official, Arrest One SuspectOtti urges Igbo youths to join ArmyFire razes shops in OyoPolice arrest man for impregnating 17-year-old daughter in BauchiNBA relocates annual conference from Rivers over emergency rule DAILIES TOP STORIES: Marketers predict cheaper petrol nationwide as Dangote begins naira saleCourt frees 12 IPOB members after four years in prisonTrump tariff hike brings added China rate for many goods to 145%Court Strikes Out Nnamdi Kanu’s Fundamental Rights Suit Against FGNERC fines eight Discos N628m over estimated billingLabour shuts down Steel Ministry Over Workers’ WelfareSoludo: 23 Anambra indigenes on death row in Indonesia for drug offencesDangote Refinery Slashes Ex-Depot Petrol PriceLagos, Rivers, 28 others to experience heavy flooding – FGAkpabio petitions IG, demands Natasha’s prosecution over alleged assassination plot:Gunmen kill four in fresh Plateau, Benue attacks — REPORTDAILIES TOP STORIES: PANDEF, lawyers, CSOs, others kick as Ibas appoints LG administrators in Rivers“Boy who stood in front of Obi’s convoy detained since January without trial”US-China tariff war could cut trade between both countries by 80% — WTO chief, Okonjo-IwealaUS revokes 40 international students visas over traffic offensesTrump pauses tariffs for several countries but raises China’s rate to 125%Nigeria Is Collapsing — Peter ObiNiger dumps French, adopts Hausa as national languageTwo female factory workers drown in Kano poolRenewed Israeli strikes kill 20 in Gaza, ceasefire talks stallFEC orders full implementation of naira-for-crude dealCAJ demands release of detained journalists in Burkina FasoPolice Inspector slumps, dies after watching Arsenal thrash Real Madrid in CalabarBandits kill 2, abduct 60 in ZamfaraAjaero asks NLC members to invade LP offices nationwide after Supreme Court judgment16,000 doctors left Nigeria in 5 years – FG
Tue. Apr 15th, 2025 12:11:42 AM
Trending News: P-Square’s Peter Testifies Against Elder Brother In N1.3bn fraud trialTwo Killed In Niger State Mine CollapseSecurity operatives fire teargas at pro-Fubara protesters —but turn blind eye on Rivers demonstrators supporting emergency rulePeter Obi discloses how Benue gov stopped him from coming to his statePlateau killings death toll rises to 54, says Amnesty13 million displaced as Sudan war enters third year – ReportFBI: Tinubu Enjoys Immunity, Won’t Be Prosecuted, Says AnalystPDP governors vow no merger in 2027Rivers’ N300m was a gift, not hosting fee – NBABenue gov warns visitors to inform him first before coming to State over insecurityChief Magistrate In Rivers Resigns Over ‘Quasi-Military’ Leadership In StateFans stab Nigeria’s local league player, club sanctionedBlackout looms in Nigeria over N4trn debtWomen Protest In Support Of Rivers Emergency RuleOPEC Cuts 2025 Oil Demand Forecast Over US Tariffs8 Shortlisted applicants for Kwara govt job fail drug test, lose slotsEkiti court sentences two to death for kidnapping, armed robberySix feared dead as plane crashes in New YorkPolice dismiss officer who killed one, injured two in CalabarRivers asks NBA to refund N300m confab hosting rightsSwiss woman abducted in Niger RepublicNine-month-old baby, woman die while returning from burial in EbonyiUPDATED: Bandits invade another Plateau community, kill over 51 peopleINVESTIGATION: Dilapidated Schools Litter Imo State As Education Gulps #159bn In Five Years Abuse of Process: Imo Chief Judge, Nzeukwu Risks Suspension by NJCKilling in the Plateau: It’s Genocide, Not Ethno-Religious Conflict, Says Natasha Akpoti-Uduaghan“Tell Your Papa”: Banning a song for criticizing Govt, unlawful – AmnestyHeartbreaking story of Alabi Quadri, the boy who believed in a better NigeriaTinubu’s Files: Presidency reacts on US Court DirectiveMan in Police net for killing mother over business dealBandits set Mosque ablaze in ZamfaraNigerian Varsity Fires Three Lecturers Over Sexual HarassmentFalana asks youths to reclaim NigeriaThree-storey collapses in LagosHow 13 children were kidnapped from Kaduna to EnuguNigeria allocated additional $200m to health in 2025 budget – WHOMen caught with firearms are Kano hunters, not herdsmen – Edo policeMilitary uncovers plot to establish ISWAP bases in Plateau, BauchiNigerian PhD Student Pleads Guilty To Multiple Fraud In USNDLEA nabs Malaysian returnee with Meth hidden in music speakersWole Soyinka slams NBC for banning Eedris Abdulkareem’s protest songGunmen kill NSCDC officer in Nigeria’s South-SouthMany Dead’ After Russian Strike On Ukrainian CityReport: Vehicle stolen during Juma’at prayer in FCT no longer attached to NSA officeKano rejects ECOWAS court ruling on blasphemy lawsSERAP tells Akpabio, Abbas to withdraw ‘repressive bill to regulate blogger” or face legal actionCannabis-smoking mother bags life jail for drowning two sonsDAILIES TOP STORIES: Another set of four hunters from Kano found with arms, ammunition in EdoBREAKING: Explosion Kills Seven, Injures Several Commuters In BornoFather, two sons killed in Plateau villageNDLEA Destroys Largest Drugs Seizure Of 1.6 Million KilogramsEXTRA: Masquerades lead protest against high electricity bill in KwaraNo! Current Imo Assembly Speaker Didn’t Commission Betting ShopUS embassy announces new visa interview requirements for NigeriansBandit Kingpin Gwaska, Over 100 Others Killed In KatsinaDAILIES TOP STORIES: Resurgent terror attacks unsettle Nigeria’s Northern regionECOWAS court faults Kano’s blasphemy laws, asks Nigeria to amend statutesProtest: Rivers CP removes DPO over’ assault on journalistsCourt orders DCP Abba Kyari to enter defence in ‘drug trafficking’ trialSiemens CEO, family die in New York helicopter crashFG imposes 10-year entry bans for visa overstays, $15 daily fine from August 1REVEALED: Parody X account impersonating Senator Natasha Akpoti-Uduaghan spottedRivers Women Stage ‘Bring Back Our Fubara’ Protest In Port HarcourtBandits Release Abducted Pastor In Kaduna, Detain Ransom CarrierKogi central constituents sue Akpabio, senate over Natasha Akpoti’s suspensionChina hits US with 125% retaliatory tariffs as trade war escalatesSERAP gives FG, NBC 48-hour to reverse Eedris Abdulkareem’s song banEx-Kwara governor Ahmed didn’t repay N1bn SUBEB loan, EFCC witness tells courtEFCC plays video evidence in ex-minister Saleh Mamman’s ‘N33bn fraud’ trialPolice Rescue Abducted Ebonyi Govt Official, Arrest One SuspectOtti urges Igbo youths to join ArmyFire razes shops in OyoPolice arrest man for impregnating 17-year-old daughter in BauchiNBA relocates annual conference from Rivers over emergency rule DAILIES TOP STORIES: Marketers predict cheaper petrol nationwide as Dangote begins naira saleCourt frees 12 IPOB members after four years in prisonTrump tariff hike brings added China rate for many goods to 145%Court Strikes Out Nnamdi Kanu’s Fundamental Rights Suit Against FGNERC fines eight Discos N628m over estimated billingLabour shuts down Steel Ministry Over Workers’ WelfareSoludo: 23 Anambra indigenes on death row in Indonesia for drug offencesDangote Refinery Slashes Ex-Depot Petrol PriceLagos, Rivers, 28 others to experience heavy flooding – FGAkpabio petitions IG, demands Natasha’s prosecution over alleged assassination plot:Gunmen kill four in fresh Plateau, Benue attacks — REPORTDAILIES TOP STORIES: PANDEF, lawyers, CSOs, others kick as Ibas appoints LG administrators in Rivers“Boy who stood in front of Obi’s convoy detained since January without trial”US-China tariff war could cut trade between both countries by 80% — WTO chief, Okonjo-IwealaUS revokes 40 international students visas over traffic offensesTrump pauses tariffs for several countries but raises China’s rate to 125%Nigeria Is Collapsing — Peter ObiNiger dumps French, adopts Hausa as national languageTwo female factory workers drown in Kano poolRenewed Israeli strikes kill 20 in Gaza, ceasefire talks stallFEC orders full implementation of naira-for-crude dealCAJ demands release of detained journalists in Burkina FasoPolice Inspector slumps, dies after watching Arsenal thrash Real Madrid in CalabarBandits kill 2, abduct 60 in ZamfaraAjaero asks NLC members to invade LP offices nationwide after Supreme Court judgment16,000 doctors left Nigeria in 5 years – FG
Tue. Apr 15th, 2025 12:11:42 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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