Nigeria Treasury bills · auction of 10 June 2010
Nigeria T-bill auction, 10 June 2010: 364-day at 3.90%, down 9 bps
At the Treasury bill auction dated 10 June 2010, the Central Bank of Nigeria set stop rates on the 91-day bill at 2.10% (up 50 basis points), the 182-day bill at 3.22% (down 278 basis points) and the 364-day bill at 3.90% (down 9 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 169.6bn against NGN 100.0bn on offer, 170% of the amount sought, and NGN 100.0bn was accepted.
Over the past year the 364-day rate has ranged from 1.90% to 7.10%.
A year earlier the 364-day bill cleared at 6.00%, so the government is paying 210 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 39,000 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 1,039,000 after 12 months: NGN 39,000 in interest before any withholding tax, about NGN 3,250 a month.
That is NGN 900 less than the same money would have earned at the previous auction.
For shorter money: NGN 16,108 on the 182-day bill (6 months), NGN 5,250 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 | 2.100% | 1.600% | NGN 20.00bn | NGN 23.19bn | NGN 20.00bn |
| 182-day | 3.221% | 6.000% | NGN 40.00bn | NGN 78.20bn | NGN 40.00bn |
| 364-day | 3.900% | 3.990% | NGN 40.00bn | NGN 68.26bn | NGN 40.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 10 June 2010, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2010-06-10
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