eng Science and Education Publishing Journal of Finance and Economics 2328-7276 2020-07-05 8 4 152 160 10.12691/jfe-8-4-1 JFE2020841 article ADIGA Dauda Leviticus 1 HARUNA Habila Abel harunaabel@fuwukari.edu.ng 2 YUA Henry 3 ADIGWE Patrick Kanayo 4 Unity Bank Plc Wukari-Nigeria, Doctoral student Department of Banking & Finance, Nnamdi Azikiwe University Awka-Nigeria Department of Banking & Finance, Federal University Wukari-Nigeria Department of Banking & Finance, Nigerian Army College of Environmental Science & Technology, Makurdi-Nigeria Department of Banking & Finance, Nnamdi Azikiwe University Awka-Nigeria This study examines the effect of selected macroeconomic variables on the profitability of deposit money banks in Nigeria. The study is based on the arbitrage pricing theory (APT) propounded by Ross (1976) and secondary data was used for the study. The hypotheses were tested using the OLS multiple regression analysis and results reveal that, Interest rate (H01) with B = -0.254, t = -0.237, p = .819; Exchange rate (H02) with B = -0.076, t = -2.093, p = .075 Gross domestic product (H03) with B = 0.643, t = 0.545, p = .602 and Inflation rate (H04) with B = 0.182, t = 0.343, p = .743 are not significant predictor of Net interest margin. The implication is that, the selected macroeconomic variables are not a significant predictor of deposit money bank profitability for the period of study. http://pubs.sciepub.com/jfe/8/4/1/jfe-8-4-1.pdf macroeconomic variables profitability multiple regression deposit money banks