CBN Updates Savings Rates for Nigerian Banks Post-MPC Meeting
The Central Bank of Nigeria (CBN) has updated the savings rates for banks including GTB, Zenith, Access, UBA, and FCMB to reflect changes following the Monetary Policy Committee (MPC) meeting in July 2025. The MPC decided to maintain its policy parameters, with the average savings rate across the banking sector standing at a certain percentage as of September 9.
The adjustment in saving deposit rates impacts customer accounts and aligns with the CBN's monetary policy decisions. The total customer deposits in commercial banks listed on the Nigerian Exchange Group increased significantly, as reported in the third-quarter financial institution submissions.
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