Nigeria Treasury bills · auction of 14 October 2010
Nigeria T-bill auction, 14 October 2010: 364-day at 8.00%, unchanged
At the Treasury bill auction dated 14 October 2010, the Central Bank of Nigeria set stop rates on the 91-day bill at 6.58% (down 2 basis points), the 182-day bill at 7.55% (unchanged) and the 364-day bill at 8.00% (unchanged). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 157.4bn against NGN 87.6bn on offer, 180% of the amount sought, and NGN 103.9bn was accepted.
At 8.00%, the 364-day rate is the highest in the 12 auctions of the past year.
A year earlier the 364-day bill cleared at 5.60%, so the government is paying 240 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 79,990 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 1,079,990 after 12 months: NGN 79,990 in interest before any withholding tax, about NGN 6,666 a month.
That is the same as at the previous auction.
For shorter money: NGN 37,745 on the 182-day bill (6 months), NGN 16,460 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 | 6.584% | 6.599% | NGN 23.59bn | NGN 64.71bn | NGN 44.34bn |
| 182-day | 7.549% | 7.549% | NGN 34.00bn | NGN 49.37bn | NGN 34.00bn |
| 364-day | 7.999% | 7.999% | NGN 30.00bn | NGN 43.36bn | NGN 25.56bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 14 October 2010, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2010-10-14
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