Nigeria Treasury bills · auction of 23 April 2009
Nigeria T-bill auction, 23 April 2009: 91-day at 3.60%, up 45 bps
At the Treasury bill auction dated 23 April 2009, the Central Bank of Nigeria set stop rates on the 91-day bill at 3.60% (up 45 basis points) and the 182-day bill at 5.20% (up 61 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 57.0bn against NGN 40.8bn on offer, 140% of the amount sought, and NGN 30.8bn was accepted.
Over the past year the 91-day rate has ranged from 1.90% to 9.30%.
A year earlier the 91-day bill cleared at 8.15%, so the government is paying 455 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 25,995 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 1,025,995 after 6 months: NGN 25,995 in interest before any withholding tax, about NGN 4,333 a month.
That is NGN 3,055 more than the same money would have earned at the previous auction.
For shorter money: NGN 9,000 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 | 3.600% | 3.150% | NGN 10.00bn | NGN 13.73bn | NGN 10m |
| 182-day | 5.199% | 4.588% | NGN 30.80bn | NGN 43.23bn | NGN 30.80bn |
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, 23 April 2009, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2009-04-23
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.