Nigeria Treasury bills · auction of 4 January 2007
Nigeria T-bill auction, 4 January 2007: 91-day at 7.40%, up 15 bps
At the Treasury bill auction dated 4 January 2007, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.40% (up 15 basis points) and the 182-day bill at 9.00% (down 99 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 22.0bn against NGN 20.0bn on offer, 110% of the amount sought, and NGN 20.0bn was accepted.
Over the past year the 91-day rate has ranged from 3.50% to 11.90%.
A year earlier the 91-day bill cleared at 11.86%, so the government is paying 446 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 45,000 in 6 months on the 182-day bill
Put NGN 1,000,000 into the 182-day bill at this auction and you get back NGN 1,045,000 after 6 months: NGN 45,000 in interest before any withholding tax, about NGN 7,500 a month.
That is NGN 4,950 less than the same money would have earned at the previous auction.
For shorter money: NGN 18,500 on the 91-day bill (3 months).
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 | 7.400% | 7.250% | NGN 10.00bn | NGN 10.00bn | NGN 10.00bn |
| 182-day | 9.000% | 9.990% | NGN 10.00bn | NGN 12.00bn | NGN 10.00bn |
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, 4 January 2007, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-01-04
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.