Nigeria Treasury bills · auction of 2 March 2007
Nigeria T-bill auction, 2 March 2007: 364-day at 8.00%, down 101 bps
At the Treasury bill auction dated 2 March 2007, the Central Bank of Nigeria set stop rates on the 364-day bill at 8.00% (down 101 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 76.9bn against NGN 15.0bn on offer, 512% of the amount sought, and NGN 15.0bn was accepted.
At 8.00%, the 364-day rate is the lowest in the 7 auctions of the past year.
A year earlier the 364-day bill cleared at 17.00%, so the government is paying 900 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 80,000 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 1,080,000 after 12 months: NGN 80,000 in interest before any withholding tax, about NGN 6,667 a month.
That is NGN 10,100 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 | 8.000% | 9.010% | NGN 15.00bn | NGN 76.87bn | 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, 2 March 2007, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-03-02
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