Nigeria Treasury bills · auction of 26 March 2014
Nigeria T-bill auction, 26 March 2014: 91-day at 11.90%, down 5 bps
At the Treasury bill auction dated 26 March 2014, the Central Bank of Nigeria set stop rates on the 91-day bill at 11.90% (down 5 basis points) and the 182-day bill at 13.18% (down 7 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 146.8bn against NGN 55.3bn on offer, 265% of the amount sought, and NGN 55.3bn was accepted.
Over the past year the 91-day rate has ranged from 10.30% to 11.95%.
A year earlier the 91-day bill cleared at 10.45%, so the government is paying 145 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 65,900 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 1,065,900 after 6 months: NGN 65,900 in interest before any withholding tax, about NGN 10,983 a month.
That is NGN 345 less than the same money would have earned at the previous auction.
For shorter money: NGN 29,750 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 | 11.900% | 11.950% | NGN 21.53bn | NGN 22.55bn | NGN 21.53bn |
| 182-day | 13.180% | 13.249% | NGN 33.78bn | NGN 124.26bn | NGN 33.78bn |
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, 26 March 2014, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2014-03-26
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.