Nigeria Treasury bills · auction of 24 July 2013
Nigeria T-bill auction, 24 July 2013: 364-day at 13.34%, up 12 bps
At the Treasury bill auction dated 24 July 2013, the Central Bank of Nigeria set stop rates on the 91-day bill at 11.60% (up 10 basis points), the 182-day bill at 12.75% (unchanged) and the 364-day bill at 13.34% (up 12 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 299.3bn against NGN 114.9bn on offer, 261% of the amount sought, and NGN 114.9bn was accepted.
Over the past year the 364-day rate has ranged from 9.54% to 15.60%.
A year earlier the 364-day bill cleared at 15.60%, so the government is paying 226 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 133,381 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 1,133,381 after 12 months: NGN 133,381 in interest before any withholding tax, about NGN 11,115 a month.
That is NGN 1,191 more than the same money would have earned at the previous auction.
For shorter money: NGN 63,750 on the 182-day bill (6 months), NGN 29,000 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 | 11.600% | 11.500% | NGN 32.89bn | NGN 60.69bn | NGN 32.89bn |
| 182-day | 12.750% | 12.750% | NGN 30.00bn | NGN 77.46bn | NGN 30.00bn |
| 364-day | 13.338% | 13.219% | NGN 52.00bn | NGN 161.16bn | NGN 52.00bn |
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, 24 July 2013, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2013-07-24
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.