Nigeria Treasury bills · auction of 2 August 2017
Nigeria T-bill auction, 2 August 2017: 364-day at 18.53%, down 2 bps
At the Treasury bill auction dated 2 August 2017, the Central Bank of Nigeria set stop rates on the 91-day bill at 13.42% (unchanged), the 182-day bill at 17.40% (unchanged) and the 364-day bill at 18.53% (down 2 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 307.0bn against NGN 229.1bn on offer, 134% of the amount sought, and NGN 229.1bn was accepted.
Over the past year the 364-day rate has ranged from 18.25% to 18.98%.
A year earlier the 364-day bill cleared at 16.48%, so the government is paying 205 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 185,300 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 1,185,300 after 12 months: NGN 185,300 in interest before any withholding tax, about NGN 15,442 a month.
That is NGN 190 less than the same money would have earned at the previous auction.
For shorter money: NGN 87,000 on the 182-day bill (6 months), NGN 33,555 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 | 13.422% | 13.425% | NGN 29.14bn | NGN 26.18bn | NGN 23.06bn |
| 182-day | 17.400% | 17.399% | NGN 80.00bn | NGN 69.75bn | NGN 69.57bn |
| 364-day | 18.530% | 18.549% | NGN 120.00bn | NGN 211.05bn | NGN 136.52bn |
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, 2 August 2017, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2017-08-02
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.