Subject Matter Index

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Effect of a unilateral change in interest rate

Fixing of interest rate

On whom does the law place the duty to prove interest rate

Power of the Central Bank of Nigeria to fix interest rate

Principles governing the charging of interest by banks

Right of a bank to charge interest on loans and overdraft granted to its customers at the rate fixed by the CBN

The need for interest rates to be expressly stated and strictly proved

The rule that where there is no express agreement as to the rate of interest payable, the bank is entitled to charge interest rate on the basis that there is an established custom to that effect

Whether a bank can charge an interest rate higher than the initial interest rate

Whether a bank can charge interest in the absence of express agreement

Whether a bank can vary an agreed interest rate to accord with CBN Guidelines

Whether a bank needs to execute a special agreement setting out a contractual interest rate to apply that interest rate to the customer’s account

Whether a court can set aside the imposition of an interest rate

Whether a customer can determine the interest rate to be applied to his debit balance in the absence of express contract

Whether banks have different interest rates for different products

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