Nigeria Treasury bills · auction of 15 July 2010
Nigeria T-bill auction, 15 July 2010: 91-day at 2.90%, down 8 bps
At the Treasury bill auction dated 15 July 2010, the Central Bank of Nigeria set stop rates on the 91-day bill at 2.90% (down 8 basis points) and the 182-day bill at 4.00% (unchanged). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 150.4bn against NGN 64.0bn on offer, 235% of the amount sought, and NGN 64.0bn was accepted.
Over the past year the 91-day rate has ranged from 1.04% to 5.25%.
A year earlier the 91-day bill cleared at 3.64%, so the government is paying 74 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 20,000 in 6 months on the 182-day bill
Put NGN 1,000,000 into the 182-day bill at this auction and you get back NGN 1,020,000 after 6 months: NGN 20,000 in interest before any withholding tax, about NGN 3,333 a month.
That is NGN 25 more than the same money would have earned at the previous auction.
For shorter money: NGN 7,250 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 | 2.900% | 2.975% | NGN 18.59bn | NGN 50.46bn | NGN 18.59bn |
| 182-day | 4.000% | 3.995% | NGN 45.40bn | NGN 99.97bn | NGN 45.40bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 15 July 2010, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2010-07-15
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