The interest on Treasury Bills is calculated as: (Face value x Discount rate x Tenor)/366 in a year. 366 days because 2024 is a leap year.

For example, if someone invests ₦10,000 with a face value of ₦10,337 for 90 days with a 14% discount rate, the Interest is calculated this way:(₦10,337 x 90 days x 14%)/ 366.

That is (10337 x 90 x 0.14) / 366 = ₦355.87.