Nigeria Treasury bills · auction of 6 February 2013
Nigeria T-bill auction, 6 February 2013: 364-day at 10.60%, down 45 bps
At the Treasury bill auction dated 6 February 2013, the Central Bank of Nigeria set stop rates on the 91-day bill at 10.32% (down 52 basis points), the 182-day bill at 10.50% (down 50 basis points) and the 364-day bill at 10.60% (down 45 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 546.4bn against NGN 219.3bn on offer, 249% of the amount sought, and NGN 219.3bn was accepted.
At 10.60%, the 364-day rate is the lowest in the 19 auctions of the past year.
A year earlier the 364-day bill cleared at 16.75%, so the government is paying 615 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 106,000 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 1,106,000 after 12 months: NGN 106,000 in interest before any withholding tax, about NGN 8,833 a month.
That is NGN 4,490 less than the same money would have earned at the previous auction.
For shorter money: NGN 52,500 on the 182-day bill (6 months), NGN 25,800 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 | 10.320% | 10.840% | NGN 42.06bn | NGN 62.49bn | NGN 42.06bn |
| 182-day | 10.500% | 11.000% | NGN 60.00bn | NGN 141.89bn | NGN 60.00bn |
| 364-day | 10.600% | 11.049% | NGN 117.22bn | NGN 342.06bn | NGN 117.22bn |
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, 6 February 2013, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2013-02-06
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.