Nigeria Treasury bills · auction of 10 July 2013
Nigeria T-bill auction, 10 July 2013: 91-day at 11.50%, down 12 bps
At the Treasury bill auction dated 10 July 2013, the Central Bank of Nigeria set stop rates on the 91-day bill at 11.50% (down 12 basis points) and the 182-day bill at 12.75% (unchanged). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 178.6bn against NGN 70.6bn on offer, 253% of the amount sought, and NGN 70.6bn was accepted.
Over the past year the 91-day rate has ranged from 9.20% to 14.50%.
A year earlier the 91-day bill cleared at 14.09%, so the government is paying 259 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 63,750 in 6 months on the 182-day bill
Put NGN 1,000,000 into the 182-day bill at this auction and you get back NGN 1,063,750 after 6 months: NGN 63,750 in interest before any withholding tax, about NGN 10,625 a month.
That is the same as at the previous auction.
For shorter money: NGN 28,750 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 | 11.500% | 11.624% | NGN 20.16bn | NGN 33.64bn | NGN 20.16bn |
| 182-day | 12.750% | 12.750% | NGN 50.40bn | NGN 144.96bn | NGN 50.40bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 10 July 2013, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2013-07-10
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