Nigeria Treasury bills · auction of 17 April 2008
Nigeria T-bill auction, 17 April 2008: 182-day at 9.20%, down 11 bps
At the Treasury bill auction dated 17 April 2008, the Central Bank of Nigeria set stop rates on the 182-day bill at 9.20% (down 11 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 52.5bn against NGN 35.0bn on offer, 150% of the amount sought, and NGN 35.0bn was accepted.
Over the past year the 182-day rate has ranged from 6.11% to 9.50%.
A year earlier the 182-day bill cleared at 7.75%, so the government is paying 145 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 46,000 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 1,046,000 after 6 months: NGN 46,000 in interest before any withholding tax, about NGN 7,667 a month.
That is NGN 550 less than the same money would have earned at the previous auction.
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 |
|---|---|---|---|---|---|
| 182-day | 9.200% | 9.310% | NGN 35.00bn | NGN 52.52bn | NGN 35.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 17 April 2008, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2008-04-17
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