Nigeria Treasury bills · auction of 25 February 2010
Nigeria T-bill auction, 25 February 2010: 91-day at 2.02%, down 62 bps
At the Treasury bill auction dated 25 February 2010, the Central Bank of Nigeria set stop rates on the 91-day bill at 2.02% (down 62 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 45.5bn against NGN 5.1bn on offer, 891% of the amount sought, and NGN 5.1bn was accepted.
At 2.02%, the 91-day rate is the lowest in the 23 auctions of the past year.
A year earlier the 91-day bill cleared at 1.90%, so the government is paying 12 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 5,050 in 3 months on the 91-day bill
Put NGN 1,000,000 into the 91-day bill at this auction and you get back NGN 1,005,050 after 3 months: NGN 5,050 in interest before any withholding tax, about NGN 1,683 a month.
That is NGN 1,563 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 |
|---|---|---|---|---|---|
| 91-day | 2.020% | 2.645% | NGN 5.11bn | NGN 45.52bn | NGN 5.11bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 25 February 2010, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2010-02-25
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