Nigeria Treasury bills · auction of 24 May 2012
Nigeria T-bill auction, 24 May 2012: 91-day at 13.50%, up 31 bps
At the Treasury bill auction dated 24 May 2012, the Central Bank of Nigeria set stop rates on the 91-day bill at 13.50% (up 31 basis points) and the 182-day bill at 14.14% (up 27 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 156.8bn against NGN 75.6bn on offer, 207% of the amount sought, and NGN 75.6bn was accepted.
Over the past year the 91-day rate has ranged from 6.80% to 15.00%.
A year earlier the 91-day bill cleared at 9.40%, so the government is paying 410 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 70,700 in 6 months on the 182-day bill
Put NGN 1,000,000 into the 182-day bill at this auction and you get back NGN 1,070,700 after 6 months: NGN 70,700 in interest before any withholding tax, about NGN 11,783 a month.
That is NGN 1,345 more than the same money would have earned at the previous auction.
For shorter money: NGN 33,750 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 | 13.500% | 13.190% | NGN 30.65bn | NGN 62.63bn | NGN 30.65bn |
| 182-day | 14.140% | 13.871% | NGN 45.00bn | NGN 94.16bn | NGN 45.00bn |
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, 24 May 2012, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2012-05-24
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.