Nigeria Treasury bills · auction of 13 December 2007
Nigeria T-bill auction, 13 December 2007: 91-day at 7.60%, up 16 bps
At the Treasury bill auction dated 13 December 2007, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.60% (up 16 basis points) and the 182-day bill at 8.00% (up 22 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 60.8bn against NGN 35.6bn on offer, 171% of the amount sought, and NGN 5.0bn was accepted.
At 7.60%, the 91-day rate is the highest in the 44 auctions of the past year.
A year earlier the 91-day bill cleared at 5.50%, so the government is paying 210 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 40,000 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 1,040,000 after 6 months: NGN 40,000 in interest before any withholding tax, about NGN 6,667 a month.
That is NGN 1,100 more than the same money would have earned at the previous auction.
For shorter money: NGN 19,000 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 | 7.600% | 7.440% | NGN 5.00bn | NGN 4.98bn | NGN 5.00bn |
| 182-day | 8.000% | 7.780% | NGN 30.55bn | NGN 55.80bn | — |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 13 December 2007, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-12-13
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