Nigeria Treasury bills · auction of 1 January 2009
Nigeria T-bill auction, 1 January 2009: 182-day at 6.00%, up 80 bps
At the Treasury bill auction dated 1 January 2009, the Central Bank of Nigeria set stop rates on the 182-day bill at 6.00% (up 80 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 24.1bn against NGN 20.4bn on offer, 118% of the amount sought, and NGN 20.4bn was accepted.
Over the past year the 182-day rate has ranged from 5.20% to 9.55%.
A year earlier the 182-day bill cleared at 8.75%, so the government is paying 275 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 30,000 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 1,030,000 after 6 months: NGN 30,000 in interest before any withholding tax, about NGN 5,000 a month.
That is NGN 4,000 more 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 | 6.000% | 5.200% | NGN 20.36bn | NGN 24.11bn | NGN 20.36bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 1 January 2009, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2009-01-01
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