Nigeria Treasury bills · auction of 1 July 2010
Nigeria T-bill auction, 1 July 2010: 364-day at 4.62%, up 72 bps
At the Treasury bill auction dated 1 July 2010, the Central Bank of Nigeria set stop rates on the 91-day bill at 2.98% (up 48 basis points), the 182-day bill at 4.00% (up 49 basis points) and the 364-day bill at 4.62% (up 72 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 242.1bn against NGN 131.9bn on offer, 184% of the amount sought, and NGN 131.9bn 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 138 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 46,167 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 1,046,167 after 12 months: NGN 46,167 in interest before any withholding tax, about NGN 3,847 a month.
That is NGN 7,167 more than the same money would have earned at the previous auction.
For shorter money: NGN 19,975 on the 182-day bill (6 months), NGN 7,438 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 | 2.975% | 2.500% | NGN 31.57bn | NGN 60.74bn | NGN 31.57bn |
| 182-day | 3.995% | 3.510% | NGN 50.36bn | NGN 87.37bn | NGN 50.36bn |
| 364-day | 4.617% | 3.900% | NGN 50.00bn | NGN 94.00bn | NGN 50.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 1 July 2010, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2010-07-01
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