Nigeria Treasury bills · auction of 23 August 2007
Nigeria T-bill auction, 23 August 2007: 91-day at 6.11%, unchanged
At the Treasury bill auction dated 23 August 2007, the Central Bank of Nigeria set stop rates on the 91-day bill at 6.11% (unchanged) and the 182-day bill at 6.15% (down 5 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 23.6bn against NGN 20.0bn on offer, 118% of the amount sought, and NGN 20.0bn was accepted.
Over the past year the 91-day rate has ranged from 4.50% to 7.40%.
A year earlier the 91-day bill cleared at 6.95%, so the government is paying 84 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 30,750 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 1,030,750 after 6 months: NGN 30,750 in interest before any withholding tax, about NGN 5,125 a month.
That is NGN 250 less than the same money would have earned at the previous auction.
For shorter money: NGN 15,275 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 | 6.110% | 6.110% | NGN 10.00bn | NGN 10.87bn | NGN 10.00bn |
| 182-day | 6.150% | 6.200% | NGN 10.00bn | NGN 12.73bn | 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, 23 August 2007, compiled from the Central Bank of Nigeria. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-08-23
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