Nigeria Treasury bills · auction of 21 February 2002
Nigeria T-bill auction, 21 February 2002: 91-day at 22.50%, up 25 bps
At the Treasury bill auction dated 21 February 2002, the Central Bank of Nigeria set stop rates on the 91-day bill at 22.50% (up 25 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 15.8bn against NGN 15.0bn on offer, 105% of the amount sought, and NGN 15.0bn was accepted.
At 22.50%, the 91-day rate is the highest in the 8 auctions of the past year.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 56,250 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 1,056,250 after 3 months: NGN 56,250 in interest before any withholding tax, about NGN 18,750 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 | 22.500% | 22.250% | NGN 15.00bn | NGN 15.78bn | NGN 15.00bn |
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, 21 February 2002, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2002-02-21
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.