How we find and verify Nigeria’s best rates
Our rates mean nothing if you can’t trust them. Here’s exactly how we collect, verify, and publish every number on this site — and how we make sure nobody can pay to change them.
Last updated: April 24, 2026
How we collect rates
Every Monday morning, our team checks rates directly from provider websites, apps, and official published terms. We do not rely on press releases or information submitted by the providers themselves.
For savings and fintech rates, we verify the advertised Annual Percentage Yield (APY) by checking: the provider’s official website, their in-app rate disclosures, and any published terms & conditions documents. If rates differ between channels, we use the lowest confirmed rate — we never inflate numbers.
For government instruments (T-bills, FGN Savings Bonds), we pull data directly from CBN and DMO official publications and auction results.
How we rank and compare products
Our comparison tables rank products by one primary factor: the rate offered to a typical Nigerian saver or borrower. Secondary factors shown in tables (minimum balance, liquidity, risk) are descriptive only — they do not affect ranking order.
We use a standardised comparison scenario: a Nigerian adult, resident in Lagos, with a BVN-verified bank account, saving a lump sum of ₦100,000. This lets us compare like-for-like across providers.
Our editorial independence policy
Naira & Sense may earn revenue through newsletter sponsorships or display advertising. This revenue never influences our rate data, our comparisons, or our editorial recommendations. Sponsored content is always clearly labelled.
No rate listed on our comparison pages is there because a company paid us. No product receives a positive editorial mention because of a commercial relationship. Our editorial team has final say on all content, with no exceptions.
Update schedule & accuracy
Rates are updated every Monday before publication. The “Last updated” date shown on each comparison page reflects when we last verified each rate directly from the source.
Nigerian financial rates can change rapidly. If you notice a discrepancy between our published rate and what a provider currently offers, please email us at rates@nairasense.ng and we will investigate and correct within 24 hours.
Criteria for inclusion
To appear in our comparison tables, a provider must meet all of the following:
- Legally licensed and regulated by the CBN, SEC, or relevant Nigerian authority
- Openly advertise rates to the general public (no invite-only or negotiated rates)
- Accept Nigerian residents with a standard BVN-verified account
- Have a verifiable track record of at least 12 months of operation
- Maintain a functional, publicly accessible web or mobile presence
Providers that fail to meet these criteria are excluded regardless of the rate they offer. Safety and regulatory compliance come before yield.
Corrections policy
We make mistakes. When we do, we correct them clearly and promptly. Corrections are noted inline on the relevant page with a timestamp. We do not delete or silently edit published rate data — changes are always logged.
To report an error: corrections@nairasense.ng
Questions about our methodology?
Email editorial@nairasense.ng — we respond to every message.