Nigeria Treasury bills · auction of 11 March 2010
Nigeria T-bill auction, 11 March 2010: 364-day at 1.90%, down 265 bps
At the Treasury bill auction dated 11 March 2010, the Central Bank of Nigeria set stop rates on the 91-day bill at 1.04% (down 98 basis points), the 182-day bill at 1.53% (down 270 basis points) and the 364-day bill at 1.90% (down 265 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 168.6bn against NGN 65.0bn on offer, 259% of the amount sought, and NGN 65.0bn was accepted.
At 1.90%, the 364-day rate is the lowest in the 10 auctions of the past year.
A year earlier the 364-day bill cleared at 4.75%, so the government is paying 285 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 19,000 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 1,019,000 after 12 months: NGN 19,000 in interest before any withholding tax, about NGN 1,583 a month.
That is NGN 26,500 less than the same money would have earned at the previous auction.
For shorter money: NGN 7,650 on the 182-day bill (6 months), NGN 2,600 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 | 1.040% | 2.020% | NGN 5.00bn | NGN 27.30bn | NGN 5.00bn |
| 182-day | 1.530% | 4.230% | NGN 30.00bn | NGN 62.50bn | NGN 30.00bn |
| 364-day | 1.900% | 4.550% | NGN 30.00bn | NGN 78.75bn | NGN 30.00bn |
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, 11 March 2010, compiled from the Central Bank of Nigeria. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2010-03-11
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.