Nigeria Treasury bills · auction of 16 August 2017
Nigeria T-bill auction, 16 August 2017: 91-day at 13.35%, down 7 bps
At the Treasury bill auction dated 16 August 2017, the Central Bank of Nigeria set stop rates on the 91-day bill at 13.35% (down 7 basis points) and the 182-day bill at 17.35% (down 5 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 67.8bn against NGN 62.4bn on offer, 109% of the amount sought, and NGN 62.4bn was accepted.
At 13.35%, the 91-day rate is the lowest in the 27 auctions of the past year.
A year earlier the 91-day bill cleared at 15.44%, so the government is paying 209 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 86,750 in 6 months on the 182-day bill
Put NGN 1,000,000 into the 182-day bill at this auction and you get back NGN 1,086,750 after 6 months: NGN 86,750 in interest before any withholding tax, about NGN 14,458 a month.
That is NGN 250 less than the same money would have earned at the previous auction.
For shorter money: NGN 33,375 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 | 13.350% | 13.422% | NGN 32.44bn | NGN 33.04bn | NGN 32.44bn |
| 182-day | 17.350% | 17.400% | NGN 30.00bn | NGN 34.75bn | NGN 30.00bn |
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, 16 August 2017, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2017-08-16
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.