Nigeria Treasury bills · auction of 10 October 2012
Nigeria T-bill auction, 10 October 2012: 364-day at 13.39%, up 34 bps
At the Treasury bill auction dated 10 October 2012, the Central Bank of Nigeria set stop rates on the 91-day bill at 13.00% (up 30 basis points), the 182-day bill at 13.34% (up 34 basis points) and the 364-day bill at 13.39% (up 34 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 356.1bn against NGN 171.8bn on offer, 207% of the amount sought, and NGN 171.8bn was accepted.
Over the past year the 364-day rate has ranged from 13.05% to 16.90%.
A year earlier the 364-day bill cleared at 11.25%, so the government is paying 214 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 133,899 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 1,133,899 after 12 months: NGN 133,899 in interest before any withholding tax, about NGN 11,158 a month.
That is NGN 3,399 more than the same money would have earned at the previous auction.
For shorter money: NGN 66,700 on the 182-day bill (6 months), NGN 32,500 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 | 13.000% | 12.700% | NGN 30.16bn | NGN 51.23bn | NGN 30.16bn |
| 182-day | 13.340% | 13.000% | NGN 73.49bn | NGN 145.58bn | NGN 73.49bn |
| 364-day | 13.390% | 13.050% | NGN 68.18bn | NGN 159.26bn | NGN 68.18bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 10 October 2012, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2012-10-10
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