Nigeria Treasury bills · auction of 5 February 2007
Nigeria T-bill auction, 5 February 2007: 364-day at 9.01%, down 114 bps
At the Treasury bill auction dated 5 February 2007, the Central Bank of Nigeria set stop rates on the 364-day bill at 9.01% (down 114 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 112.2bn against NGN 15.0bn on offer, 748% of the amount sought, and NGN 15.0bn was accepted.
Over the past year the 364-day rate has ranged from 8.95% to 14.00%.
A year earlier the 364-day bill cleared at 17.00%, so the government is paying 799 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 90,100 in 12 months on the 364-day bill
Put NGN 1,000,000 into the 364-day bill at this auction and you get back NGN 1,090,100 after 12 months: NGN 90,100 in interest before any withholding tax, about NGN 7,508 a month.
That is NGN 11,400 less 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 |
|---|---|---|---|---|---|
| 364-day | 9.010% | 10.150% | NGN 15.00bn | NGN 112.22bn | NGN 15.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 5 February 2007, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-02-05
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