Nigeria Treasury bills · auction of 15 June 2016
Nigeria T-bill auction, 15 June 2016: 364-day at 11.99%, up 89 bps
At the Treasury bill auction dated 15 June 2016, the Central Bank of Nigeria set stop rates on the 91-day bill at 8.00% (up 1 basis point), the 182-day bill at 9.35% (up 30 basis points) and the 364-day bill at 11.99% (up 89 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 312.3bn against NGN 229.4bn on offer, 136% of the amount sought, and NGN 229.4bn 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 101 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 119,900 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 1,119,900 after 12 months: NGN 119,900 in interest before any withholding tax, about NGN 9,992 a month.
That is NGN 8,900 more than the same money would have earned at the previous auction.
For shorter money: NGN 46,750 on the 182-day bill (6 months), NGN 20,000 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 | 8.000% | 7.990% | NGN 48.10bn | NGN 50.50bn | NGN 48.10bn |
| 182-day | 9.350% | 9.050% | NGN 29.00bn | NGN 48.32bn | NGN 29.00bn |
| 364-day | 11.990% | 11.100% | NGN 152.34bn | NGN 213.46bn | NGN 152.34bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 15 June 2016, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2016-06-15
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