Nigeria Treasury bills · auction of 10 May 2007
Nigeria T-bill auction, 10 May 2007: 364-day at 8.50%, unchanged
At the Treasury bill auction dated 10 May 2007, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.25% (unchanged), the 182-day bill at 8.06% (unchanged) and the 364-day bill at 8.50% (unchanged). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 145.8bn against NGN 35.0bn on offer, 417% of the amount sought, and NGN 114.1bn was accepted.
Over the past year the 364-day rate has ranged from 8.00% to 14.00%.
A year earlier the 364-day bill cleared at 8.95%, so the government is paying 45 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 85,000 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 1,085,000 after 12 months: NGN 85,000 in interest before any withholding tax, about NGN 7,083 a month.
That is the same as at the previous auction.
For shorter money: NGN 40,300 on the 182-day bill (6 months), NGN 18,125 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 | 7.250% | 7.250% | NGN 10.00bn | NGN 18.31bn | NGN 10.11bn |
| 182-day | 8.060% | 8.060% | NGN 10.00bn | NGN 33.71bn | NGN 25.00bn |
| 364-day | 8.500% | 8.500% | NGN 15.00bn | NGN 93.80bn | NGN 79.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 10 May 2007, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-05-10
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