Nigeria Treasury bills · auction of 8 March 2007
Nigeria T-bill auction, 8 March 2007: 91-day at 6.90%, down 10 bps
At the Treasury bill auction dated 8 March 2007, the Central Bank of Nigeria set stop rates on the 91-day bill at 6.90% (down 10 basis points). The rate shown is the stop (issue) rate at the primary auction.
Bids totalled NGN 11.5bn and NGN 10.0bn was accepted, 87% of what was bid.
Over the past year the 91-day rate has ranged from 3.50% to 8.00%.
A year earlier the 91-day bill cleared at 8.00%, so the government is paying 110 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 17,250 in 3 months on the 91-day bill
Put NGN 1,000,000 into the 91-day bill at this auction and you get back NGN 1,017,250 after 3 months: NGN 17,250 in interest before any withholding tax, about NGN 5,750 a month.
That is NGN 250 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 |
|---|---|---|---|---|---|
| 91-day | 6.900% | 7.000% | — | NGN 11.51bn | NGN 10.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 8 March 2007, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-03-08
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