Nigeria Statutory late-payment interest
Nigeria Statutory late-payment interest: no single figure applies. The reason is set out below, cited to the governing instrument. Last checked against the official source on 10 Aug 2026.
Nigeria fixes no national statutory or late-payment interest rate: post-judgment interest is set court-by-court in procedural rules whose 10% figures flip between floor and ceiling, and pre-judgment interest is contractual or equitable at court discretion.
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| Current value | structured — see the API |
|---|---|
| In force from | — |
| Official source | High Court of Lagos State (Civil Procedure) Rules 2019, O 39 r 4: the judge 'may order interest at a rate not less than 10% per annum' (a FLOOR); Federal High Court (Civil Procedure) Rules 2019, O 23 r 5: 'may order interest at a rate not exceeding ten per cent per annum' (a CEILING) |
| Last verified | 2026-08-10 |
| Verification | secondary — Corroborated, but the primary instrument was NOT read (usually the publishing host blocks automated access). The full primary rule texts are paywalled or circulate as scanned-image PDFs; the operative wording is verified via multiple concordant secondary reproductions. The refusal structure itself (no national rate; per-court rules) is settled Nigerian practice. |
| Provenance | source fingerprint |
What this value means
REFUSAL — no national statute fixes any general or pre-judgment rate; post-judgment interest exists only court-by-court, and inconsistently: the recurring 10% figure is a FLOOR in Lagos and a CEILING in the Federal High Court, so no single national value can be served — never publish '10%' as Nigeria's rate. The 36 states plus the FCT each have their own rules with similar-but-varying figures; the FCT issued new Civil Procedure Rules in 2025 replacing its 2018 Rules, so any FCT figure needs re-verification against the 2025 text. CBN MPR-linked rates apply only in specific regulated contexts (some arbitration awards, tax refunds), not generally. Citation stability: in the 2012 Lagos Rules the provision was O 35 r 4; the 2019 Rules moved it to O 39 r 4.
Get it programmatically
curl https://afriref.dev/v1/ng/statutory-interest
# $0.005 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://afriref.dev/v1/ng/statutory-interest/history?from=2020-01-01
# Provenance: curl https://afriref.dev/provenance/ng/statutory-interestOther Nigeria series: CBN monetary policy rate · VAT standard rate · VAT registration threshold · National minimum wage · Public holidays · CPI inflation (year-on-year) · Corporate income tax rate · Withholding tax rates · Personal income tax brackets · CBN official exchange rate (NFEM volume-weighted average) · Statutory payroll contributions (employee)
The same figure elsewhere: Republic of the Congo · Rwanda · Senegal · South Africa · Tanzania · all 34