Nigeria Treasury bills · auction of 24 November 2010
Nigeria T-bill auction, 24 November 2010: 364-day at 10.25%, up 25 bps
At the Treasury bill auction dated 24 November 2010, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.75% (up 25 basis points), the 182-day bill at 9.75% (up 25 basis points) and the 364-day bill at 10.25% (up 25 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 162.9bn against NGN 78.9bn on offer, 207% of the amount sought, and NGN 78.9bn was accepted.
At 10.25%, the 364-day rate is the highest in the 14 auctions of the past year.
A year earlier the 364-day bill cleared at 5.70%, so the government is paying 455 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 102,490 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 1,102,490 after 12 months: NGN 102,490 in interest before any withholding tax, about NGN 8,541 a month.
That is NGN 2,500 more than the same money would have earned at the previous auction.
For shorter money: NGN 48,750 on the 182-day bill (6 months), NGN 19,375 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 | 7.750% | 7.500% | NGN 17.65bn | NGN 51.72bn | NGN 17.65bn |
| 182-day | 9.750% | 9.500% | NGN 30.68bn | NGN 55.91bn | NGN 30.68bn |
| 364-day | 10.249% | 9.999% | NGN 30.54bn | NGN 55.29bn | NGN 30.54bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 24 November 2010, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2010-11-24
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