Nigeria Treasury bills · auction of 9 January 2013
Nigeria T-bill auction, 9 January 2013: 364-day at 11.80%, unchanged
At the Treasury bill auction dated 9 January 2013, the Central Bank of Nigeria set stop rates on the 91-day bill at 11.55% (down 15 basis points), the 182-day bill at 11.60% (down 15 basis points) and the 364-day bill at 11.80% (unchanged). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 360.2bn against NGN 166.4bn on offer, 216% of the amount sought, and NGN 166.4bn was accepted.
At 11.80%, the 364-day rate is the lowest in the 17 auctions of the past year.
A year earlier the 364-day bill cleared at 16.75%, so the government is paying 495 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 117,990 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 1,117,990 after 12 months: NGN 117,990 in interest before any withholding tax, about NGN 9,833 a month.
That is the same as at the previous auction.
For shorter money: NGN 58,000 on the 182-day bill (6 months), NGN 28,875 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 | 11.550% | 11.699% | NGN 30.16bn | NGN 56.23bn | NGN 30.16bn |
| 182-day | 11.600% | 11.750% | NGN 50.40bn | NGN 112.31bn | NGN 50.40bn |
| 364-day | 11.799% | 11.799% | NGN 85.85bn | NGN 191.62bn | NGN 85.85bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 9 January 2013, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2013-01-09
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