Nigeria Treasury bills · auction of 10 December 2009
Nigeria T-bill auction, 10 December 2009: 364-day at 5.30%, down 40 bps
At the Treasury bill auction dated 10 December 2009, the Central Bank of Nigeria set stop rates on the 91-day bill at 3.63% (down 67 basis points), the 182-day bill at 5.21% (down 9 basis points) and the 364-day bill at 5.30% (down 40 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 155.3bn against NGN 75.0bn on offer, 207% of the amount sought, and NGN 75.0bn was accepted.
Over the past year the 364-day rate has ranged from 4.75% to 7.10%.
A year earlier the 364-day bill cleared at 7.65%, so the government is paying 235 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 52,990 in 12 months on the 364-day bill
Put NGN 1,000,000 into the 364-day bill at this auction and you get back NGN 1,052,990 after 12 months: NGN 52,990 in interest before any withholding tax, about NGN 4,416 a month.
That is NGN 4,010 less than the same money would have earned at the previous auction.
For shorter money: NGN 26,075 on the 182-day bill (6 months), NGN 9,063 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 | 3.625% | 4.300% | NGN 15.00bn | NGN 42.43bn | NGN 15.00bn |
| 182-day | 5.215% | 5.310% | NGN 30.00bn | NGN 46.80bn | NGN 30.00bn |
| 364-day | 5.299% | 5.700% | NGN 30.00bn | NGN 66.05bn | NGN 30.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 10 December 2009, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2009-12-10
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