Nigeria Treasury bills · auction of 13 January 2011
Nigeria T-bill auction, 13 January 2011: 364-day at 10.20%, down 5 bps
At the Treasury bill auction dated 13 January 2011, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.60% (up 10 basis points), the 182-day bill at 9.45% (down 6 basis points) and the 364-day bill at 10.20% (down 5 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 264.6bn against NGN 135.6bn on offer, 195% of the amount sought, and NGN 135.6bn was accepted.
Over the past year the 364-day rate has ranged from 1.90% to 10.25%.
A year earlier the 364-day bill cleared at 5.30%, so the government is paying 490 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 101,990 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 1,101,990 after 12 months: NGN 101,990 in interest before any withholding tax, about NGN 8,499 a month.
That is NGN 480 less than the same money would have earned at the previous auction.
For shorter money: NGN 47,250 on the 182-day bill (6 months), NGN 18,998 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 | 7.599% | 7.498% | NGN 44.34bn | NGN 56.55bn | NGN 44.34bn |
| 182-day | 9.450% | 9.505% | NGN 45.40bn | NGN 88.55bn | NGN 45.40bn |
| 364-day | 10.199% | 10.247% | NGN 45.85bn | NGN 119.45bn | NGN 45.85bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Central Bank of Nigeria” and a link to this page.
Afronomics (2026). Nigeria Treasury bill auction, 13 January 2011, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2011-01-13
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.