Nigeria Treasury bills · auction of 9 October 2013
Nigeria T-bill auction, 9 October 2013: 364-day at 11.74%, down 1 bps
At the Treasury bill auction dated 9 October 2013, the Central Bank of Nigeria set stop rates on the 91-day bill at 10.80% (down 5 basis points), the 182-day bill at 11.64% (down 5 basis points) and the 364-day bill at 11.74% (down 1 basis point). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 250.6bn against NGN 131.8bn on offer, 190% of the amount sought, and NGN 131.8bn was accepted.
Over the past year the 364-day rate has ranged from 9.54% to 13.34%.
A year earlier the 364-day bill cleared at 13.05%, so the government is paying 131 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 117,400 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 1,117,400 after 12 months: NGN 117,400 in interest before any withholding tax, about NGN 9,783 a month.
That is NGN 90 less than the same money would have earned at the previous auction.
For shorter money: NGN 58,200 on the 182-day bill (6 months), NGN 27,000 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 | 10.800% | 10.850% | NGN 20.16bn | NGN 34.62bn | NGN 20.16bn |
| 182-day | 11.640% | 11.690% | NGN 43.49bn | NGN 85.26bn | NGN 43.49bn |
| 364-day | 11.740% | 11.749% | NGN 68.18bn | NGN 130.70bn | NGN 68.18bn |
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 October 2013, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2013-10-09
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.