CBN reviews rate on local currency savings deposit

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Central Bank of Nigeria (CBN) has reviewed the rate on local currency savings deposit, rates shall be negotiable subject to a minimum of 10% per annum of Monetary Policy Rate with effect September 1.

This was disclosed in a letter signed the apex bank Director of Banking supervision Bello Hassan.

According to the letter, interest rate on local currency saving deposits shall be negotiable subject to a minimum of 10 % per annum of Monetary Policy rate

See Full Letter Below

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