Nigeria Treasury bills · auction of 1 June 2016
Nigeria T-bill auction, 1 June 2016: 364-day at 11.10%, down 138 bps
At the Treasury bill auction dated 1 June 2016, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.99% (down 11 basis points), the 182-day bill at 9.05% (down 15 basis points) and the 364-day bill at 11.10% (down 138 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 394.3bn against NGN 143.9bn on offer, 274% of the amount sought, and NGN 143.9bn was accepted.
Over the past year the 364-day rate has ranged from 7.45% to 16.28%.
A year earlier the 364-day bill cleared at 13.00%, so the government is paying 190 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 111,000 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 1,111,000 after 12 months: NGN 111,000 in interest before any withholding tax, about NGN 9,250 a month.
That is NGN 13,800 less than the same money would have earned at the previous auction.
For shorter money: NGN 45,250 on the 182-day bill (6 months), NGN 19,975 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 | 7.990% | 8.100% | NGN 45.85bn | NGN 64.33bn | NGN 45.85bn |
| 182-day | 9.050% | 9.200% | NGN 18.00bn | NGN 58.91bn | NGN 18.00bn |
| 364-day | 11.100% | 12.480% | NGN 80.00bn | NGN 271.05bn | NGN 80.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 1 June 2016, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2016-06-01
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