Nigerian Inter-Bank Treasury Bills True Yields (“NITTY”) is determined using the actual Mark to Market (“MTM”) discount rates from ten (10) money market dealers chosen based on pre-determined criteria. The bid discount rates are then translated to their money market equivalent i.e. true yields. This represents what money market dealers are earning. Once translated, these yields can be used as a basis to form rates that coincide with or are nearest to the various NITTY tenor benchmarks.