Nigeria Treasury bills · auction of 7 June 2012
Nigeria T-bill auction, 7 June 2012: 364-day at 15.70%, up 175 bps
At the Treasury bill auction dated 7 June 2012, the Central Bank of Nigeria set stop rates on the 364-day bill at 15.70% (up 175 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 106.8bn against NGN 60.0bn on offer, 178% of the amount sought, and NGN 60.0bn was accepted.
Over the past year the 364-day rate has ranged from 9.01% to 16.90%.
A year earlier the 364-day bill cleared at 10.99%, so the government is paying 471 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 156,999 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 1,156,999 after 12 months: NGN 156,999 in interest before any withholding tax, about NGN 13,083 a month.
That is NGN 17,529 more than the same money would have earned at the previous auction.
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 |
|---|---|---|---|---|---|
| 364-day | 15.700% | 13.947% | NGN 60.00bn | NGN 106.81bn | NGN 60.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 7 June 2012, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2012-06-07
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