Deposit Interest Rate in Nigeria increased to 4.44 percent in April from 4.41 percent in March of 2022. source: Central Bank of Nigeria

Deposit Interest Rate in Nigeria averaged 9.40 percent from 1970 until 2022, reaching an all time high of 27 percent in September of 1993 and a record low of 2 percent in April of 1976. This page includes a chart with historical data for Deposit Interest Rate in Nigeria. Deposit Interest Rate in Nigeria - values, historical data and charts - was last updated on June of 2022.

Deposit Interest Rate in Nigeria is expected to be 4.44 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Deposit Interest Rate in Nigeria is projected to trend around 5.94 percent in 2023 and 4.44 percent in 2024, according to our econometric models.

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Deposit Interest Rate in Nigeria

Related Last Previous Unit Reference
Interest Rate 13.00 11.50 percent May 2022
Cash Reserve Ratio 27.50 27.50 percent Jun 2022
Interbank Rate 9.16 9.16 percent Jun 2022
Money Supply M1 20608106.85 19850944.01 NGN Million May 2022
Money Supply M0 3331796.22 3308553.20 NGN Million May 2022
Money Supply M2 48555975.14 47213250.48 NGN Million May 2022
Foreign Exchange Reserves 38540.00 39650.00 USD Million May 2022
Deposit Interest Rate 4.44 4.41 percent Apr 2022
Money Supply M3 46542025.44 45654456.11 NGN Million Apr 2022
Lending Rate 11.83 11.84 percent Apr 2022

Deposit Interest Rate in Nigeria
The Deposit Interest Rate is Nigeria refers to Weighted Average 3 Month Deposit Rates in Commercial Banks.
Actual Previous Highest Lowest Dates Unit Frequency
4.44 4.41 27.00 2.00 1970 - 2022 percent Monthly