Nigeria Treasury bills · auction of 29 March 2007
Nigeria T-bill auction, 29 March 2007: 91-day at 7.22%, up 92 bps
At the Treasury bill auction dated 29 March 2007, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.22% (up 92 basis points) and the 182-day bill at 7.45% (up 55 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 49.2bn against NGN 20.0bn on offer, 246% of the amount sought, and NGN 48.0bn was accepted.
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 78 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 37,250 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 1,037,250 after 6 months: NGN 37,250 in interest before any withholding tax, about NGN 6,208 a month.
That is NGN 2,750 more than the same money would have earned at the previous auction.
For shorter money: NGN 18,050 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 | 7.220% | 6.300% | NGN 10.00bn | NGN 22.61bn | NGN 22.00bn |
| 182-day | 7.450% | 6.900% | NGN 10.00bn | NGN 26.64bn | NGN 26.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 29 March 2007, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-03-29
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