Nigeria Treasury bills · auction of 31 May 2017
Nigeria T-bill auction, 31 May 2017: 364-day at 18.65%, down 5 bps
At the Treasury bill auction dated 31 May 2017, the Central Bank of Nigeria set stop rates on the 91-day bill at 13.40% (down 10 basis points), the 182-day bill at 17.14% (down 1 basis point) and the 364-day bill at 18.65% (down 5 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 201.8bn against NGN 117.1bn on offer, 172% of the amount sought, and NGN 117.1bn was accepted.
Over the past year the 364-day rate has ranged from 11.99% to 18.98%.
A year earlier the 364-day bill cleared at 12.48%, so the government is paying 617 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 186,500 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 1,186,500 after 12 months: NGN 186,500 in interest before any withholding tax, about NGN 15,542 a month.
That is NGN 500 less than the same money would have earned at the previous auction.
For shorter money: NGN 85,695 on the 182-day bill (6 months), NGN 33,500 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 | 13.400% | 13.500% | NGN 26.14bn | NGN 26.50bn | NGN 26.14bn |
| 182-day | 17.139% | 17.149% | NGN 11.01bn | NGN 11.54bn | NGN 11.01bn |
| 364-day | 18.650% | 18.700% | NGN 80.00bn | NGN 163.74bn | NGN 80.00bn |
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, 31 May 2017, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2017-05-31
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.