Nigeria Treasury bills · auction of 9 May 2013
Nigeria T-bill auction, 9 May 2013: 364-day at 11.68%, down 57 bps
At the Treasury bill auction dated 9 May 2013, the Central Bank of Nigeria set stop rates on the 91-day bill at 10.30% (down 5 basis points), the 182-day bill at 11.59% (down 50 basis points) and the 364-day bill at 11.68% (down 57 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 400.8bn against NGN 157.1bn on offer, 255% of the amount sought, and NGN 157.1bn was accepted.
Over the past year the 364-day rate has ranged from 9.54% to 15.70%.
A year earlier the 364-day bill cleared at 14.64%, so the government is paying 296 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 116,800 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 1,116,800 after 12 months: NGN 116,800 in interest before any withholding tax, about NGN 9,733 a month.
That is NGN 5,690 less than the same money would have earned at the previous auction.
For shorter money: NGN 57,950 on the 182-day bill (6 months), NGN 25,750 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 | 10.300% | 10.350% | NGN 22.06bn | NGN 26.05bn | NGN 22.06bn |
| 182-day | 11.590% | 12.090% | NGN 30.00bn | NGN 76.40bn | NGN 30.00bn |
| 364-day | 11.680% | 12.249% | NGN 105.00bn | NGN 298.37bn | NGN 105.00bn |
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, 9 May 2013, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2013-05-09
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.