Nigeria Treasury bills · auction of 17 January 2002
Nigeria T-bill auction, 17 January 2002: 91-day at 21.25%, up 25 bps
At the Treasury bill auction dated 17 January 2002, the Central Bank of Nigeria set stop rates on the 91-day bill at 21.25% (up 25 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was undersubscribed: bids totalled NGN 17.2bn against NGN 25.4bn on offer, 68% of the amount sought, and NGN 17.2bn was accepted.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 53,125 in 3 months on the 91-day bill
Put NGN 1,000,000 into the 91-day bill at this auction and you get back NGN 1,053,125 after 3 months: NGN 53,125 in interest before any withholding tax, about NGN 17,708 a month.
That is NGN 625 more than the same money would have earned at the previous auction.
The government pays the full amount at maturity; the risk is Nigeria’s government not paying, and the money is locked until then.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 21.250% | 21.000% | NGN 25.38bn | NGN 17.20bn | NGN 17.19bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 17 January 2002, compiled from the Central Bank of Nigeria. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2002-01-17
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