Nigeria Treasury bills · auction of 8 November 2007
Nigeria T-bill auction, 8 November 2007: 364-day at 7.35%, up 35 bps
At the Treasury bill auction dated 8 November 2007, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.35% (up 95 basis points), the 182-day bill at 7.50% (unchanged) and the 364-day bill at 7.35% (up 35 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 111.7bn against NGN 65.1bn on offer, 172% of the amount sought, and NGN 30.1bn was accepted.
Over the past year the 364-day rate has ranged from 7.00% to 10.15%.
A year earlier the 364-day bill cleared at 10.00%, so the government is paying 265 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 73,500 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 1,073,500 after 12 months: NGN 73,500 in interest before any withholding tax, about NGN 6,125 a month.
That is NGN 3,500 more than the same money would have earned at the previous auction.
For shorter money: NGN 37,500 on the 182-day bill (6 months), NGN 18,375 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 | 7.350% | 6.400% | NGN 5.11bn | NGN 7.47bn | NGN 5.11bn |
| 182-day | 7.500% | 7.500% | NGN 35.00bn | NGN 23.68bn | — |
| 364-day | 7.350% | 7.000% | NGN 25.00bn | NGN 80.57bn | NGN 25.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Central Bank of Nigeria” and a link to this page.
Afronomics (2026). Nigeria Treasury bill auction, 8 November 2007, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-11-08
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.