Nigeria Treasury bills · auction of 9 June 2011
Nigeria T-bill auction, 9 June 2011: 364-day at 9.70%, down 129 bps
At the Treasury bill auction dated 9 June 2011, the Central Bank of Nigeria set stop rates on the 91-day bill at 8.69% (up 7 basis points), the 182-day bill at 9.34% (down 5 basis points) and the 364-day bill at 9.70% (down 129 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 312.7bn against NGN 125.0bn on offer, 250% of the amount sought, and NGN 125.0bn was accepted.
Over the past year the 364-day rate has ranged from 4.20% to 10.99%.
A year earlier the 364-day bill cleared at 3.99%, so the government is paying 571 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 97,000 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 1,097,000 after 12 months: NGN 97,000 in interest before any withholding tax, about NGN 8,083 a month.
That is NGN 12,922 less than the same money would have earned at the previous auction.
For shorter money: NGN 46,700 on the 182-day bill (6 months), NGN 21,725 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 | 8.690% | 8.625% | NGN 30.00bn | NGN 48.80bn | NGN 30.00bn |
| 182-day | 9.340% | 9.390% | NGN 45.00bn | NGN 121.54bn | NGN 45.00bn |
| 364-day | 9.700% | 10.992% | NGN 50.00bn | NGN 142.33bn | NGN 50.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 9 June 2011, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2011-06-09
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