Nigeria Treasury bills · auction of 30 November 2016
Nigeria T-bill auction, 30 November 2016: 364-day at 18.69%, down 1 bps
At the Treasury bill auction dated 30 November 2016, the Central Bank of Nigeria set stop rates on the 91-day bill at 13.99% (unchanged), the 182-day bill at 17.49% (up 9 basis points) and the 364-day bill at 18.69% (down 1 basis point). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 156.6bn against NGN 117.2bn on offer, 134% of the amount sought, and NGN 117.2bn was accepted.
Over the past year the 364-day rate has ranged from 7.45% to 18.70%.
A year earlier the 364-day bill cleared at 8.50%, so the government is paying 1019 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 186,900 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 1,186,900 after 12 months: NGN 186,900 in interest before any withholding tax, about NGN 15,575 a month.
That is NGN 100 less than the same money would have earned at the previous auction.
For shorter money: NGN 87,450 on the 182-day bill (6 months), NGN 34,975 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 | 13.990% | 13.990% | NGN 26.14bn | NGN 28.36bn | NGN 26.14bn |
| 182-day | 17.490% | 17.400% | NGN 11.01bn | NGN 13.43bn | NGN 11.01bn |
| 364-day | 18.690% | 18.700% | NGN 80.03bn | NGN 114.78bn | NGN 80.03bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 30 November 2016, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2016-11-30
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