Nigeria Treasury bills · auction of 11 November 2010
Nigeria T-bill auction, 11 November 2010: 364-day at 10.00%, up 72 bps
At the Treasury bill auction dated 11 November 2010, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.50% (up 50 basis points), the 182-day bill at 9.50% (up 50 basis points) and the 364-day bill at 10.00% (up 72 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 162.5bn against NGN 127.1bn on offer, 128% of the amount sought, and NGN 127.1bn was accepted.
At 10.00%, the 364-day rate is the highest in the 13 auctions of the past year.
A year earlier the 364-day bill cleared at 7.10%, so the government is paying 290 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 99,990 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 1,099,990 after 12 months: NGN 99,990 in interest before any withholding tax, about NGN 8,333 a month.
That is NGN 7,190 more than the same money would have earned at the previous auction.
For shorter money: NGN 47,500 on the 182-day bill (6 months), NGN 18,750 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 | 7.500% | 7.000% | NGN 39.28bn | NGN 42.28bn | NGN 39.28bn |
| 182-day | 9.500% | 9.000% | NGN 45.00bn | NGN 61.30bn | NGN 45.00bn |
| 364-day | 9.999% | 9.280% | NGN 42.79bn | NGN 58.94bn | NGN 42.79bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 11 November 2010, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2010-11-11
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