July 28, 2014
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These are the interest rates banks charge the public on loans and advances. It reflects the cost of borrowings and includes all charges and commissions levied by banks. The publication of these rates is to promote transparency in the pricing and provision of banking services. These rate are also available on the Central Bank of Nigeria website.

CBN Rates

UBA Average Interest Rate on Demand Deposits 0.02%
UBA Average Interest Rate on Saving Deposits 3.60%
UBA Average Interest Rate on Time Deposits   9.97%

Lending Rates

Prime Max
Agriculture 7% 24%
Mining and Quarring 20% 24%
Oil and Gas 16.5% 24%
Manufacturing  16.5% 24%
Real Estate and Construction 20% 24%
General Commerce 20% 24%
Mortgage 24% 26%
Transport and Communication 20% 24%
Finance and Insurance 16.5% 24%
Government 20% 24%

Aviation ROE

Please be informed that based on the latest Mark to Market rate and as mutually agreed, the new Rate of Exchange (ROE) to sell Naira tickets (NGN):

25th July, 2014

NGN 163.00 = USD 1