Section 7: Interest rates

(1) The naira loans made by the Fund shall be at interest rates slightly lower than the prevailing commercial rates in Nigeria.
(2) The naira interest rate for each loan shall be fixed for the duration of the loan.
(3) The Fund shall charge the participating banks not more than one percentage point above its borrowing rate.
(4) Participating banks shall be allowed a maximum spread of four percentage points above the rate charged by the Fund.
(5)
Interest rates chargeable by the Fund on foreign currency loans shall differ from currency to currency but shall be limited to a spread of one percentage point above the Fund's borrowing rate in each currency.
(6) The interest rate chargeable on foreign currency loans shall reflect the agreed terms on which the loans were made available to the Fund.
(7) Any profit made by the Fund shall be applied towards increasing the reserves of the Fund.