Nigeria Treasury bills · auction of 31 January 2002
Nigeria T-bill auction, 31 January 2002: 91-day at 21.75%, up 25 bps
At the Treasury bill auction dated 31 January 2002, the Central Bank of Nigeria set stop rates on the 91-day bill at 21.75% (up 25 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was undersubscribed: bids totalled NGN 12.2bn against NGN 21.0bn on offer, 58% of the amount sought, and NGN 12.2bn was accepted.
At 21.75%, the 91-day rate is the highest in the 5 auctions of the past year.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 54,375 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 1,054,375 after 3 months: NGN 54,375 in interest before any withholding tax, about NGN 18,125 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 | 21.750% | 21.500% | NGN 21.00bn | NGN 12.24bn | NGN 12.16bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Central Bank of Nigeria” and a link to this page.
Afronomics (2026). Nigeria Treasury bill auction, 31 January 2002, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2002-01-31
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.