Nigeria Treasury bills · auction of 27 August 2009
Nigeria T-bill auction, 27 August 2009: 91-day at 4.80%, up 10 bps
At the Treasury bill auction dated 27 August 2009, the Central Bank of Nigeria set stop rates on the 91-day bill at 4.80% (up 10 basis points) and the 182-day bill at 5.50% (up 10 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 36.5bn against NGN 30.1bn on offer, 121% of the amount sought, and NGN 30.1bn was accepted.
Over the past year the 91-day rate has ranged from 1.90% to 9.13%.
A year earlier the 91-day bill cleared at 9.10%, so the government is paying 430 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 27,500 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 1,027,500 after 6 months: NGN 27,500 in interest before any withholding tax, about NGN 4,583 a month.
That is NGN 505 more than the same money would have earned at the previous auction.
For shorter money: NGN 12,000 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 | 4.800% | 4.700% | NGN 15.11bn | NGN 17.07bn | NGN 15.11bn |
| 182-day | 5.500% | 5.399% | NGN 15.00bn | NGN 19.47bn | NGN 15.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 27 August 2009, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2009-08-27
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