Nigeria Treasury bills · auction of 7 June 2007
Nigeria T-bill auction, 7 June 2007: 364-day at 7.79%, down 71 bps
At the Treasury bill auction dated 7 June 2007, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.00% (down 15 basis points), the 182-day bill at 7.25% (down 55 basis points) and the 364-day bill at 7.79% (down 71 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 207.5bn against NGN 35.0bn on offer, 593% of the amount sought, and NGN 35.0bn was accepted.
At 7.79%, the 364-day rate is the lowest in the 9 auctions of the past year.
A year earlier the 364-day bill cleared at 8.95%, so the government is paying 116 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 77,900 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 1,077,900 after 12 months: NGN 77,900 in interest before any withholding tax, about NGN 6,492 a month.
That is NGN 7,100 less than the same money would have earned at the previous auction.
For shorter money: NGN 36,250 on the 182-day bill (6 months), NGN 17,500 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 | 7.000% | 7.150% | NGN 10.00bn | NGN 26.46bn | NGN 10.00bn |
| 182-day | 7.250% | 7.800% | NGN 10.00bn | NGN 42.29bn | NGN 10.00bn |
| 364-day | 7.790% | 8.500% | NGN 15.00bn | NGN 138.70bn | 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, 7 June 2007, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-06-07
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