Nigeria Treasury bills · auction of 27 December 2007
Nigeria T-bill auction, 27 December 2007: 91-day at 8.50%, up 92 bps
At the Treasury bill auction dated 27 December 2007, the Central Bank of Nigeria set stop rates on the 91-day bill at 8.50% (up 92 basis points) and the 182-day bill at 8.75% (up 37 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was undersubscribed: bids totalled NGN 9.1bn against NGN 105.0bn on offer, 9% of the amount sought.
At 8.50%, the 91-day rate is the highest in the 44 auctions of the past year.
A year earlier the 91-day bill cleared at 7.40%, so the government is paying 110 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 43,750 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 1,043,750 after 6 months: NGN 43,750 in interest before any withholding tax, about NGN 7,292 a month.
That is NGN 1,850 more than the same money would have earned at the previous auction.
For shorter money: NGN 21,250 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 | 8.500% | 7.580% | NGN 5.00bn | NGN 4.18bn | — |
| 182-day | 8.750% | 8.380% | NGN 100.00bn | NGN 4.87bn | — |
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, 27 December 2007, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2007-12-27
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.