Nigeria Treasury bills · auction of 14 June 2018
Nigeria T-bill auction, 14 June 2018: 91-day at 10.20%, up 20 bps
At the Treasury bill auction dated 14 June 2018, the Central Bank of Nigeria set stop rates on the 91-day bill at 10.20% (up 20 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 6.2bn against NGN 6.2bn on offer, 100% of the amount sought, and NGN 6.2bn was accepted.
Over the past year the 91-day rate has ranged from 10.00% to 13.50%.
A year earlier the 91-day bill cleared at 13.50%, so the government is paying 330 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 25,500 in 3 months on the 91-day bill
Put NGN 1,000,000 into the 91-day bill at this auction and you get back NGN 1,025,500 after 3 months: NGN 25,500 in interest before any withholding tax, about NGN 8,500 a month.
That is NGN 500 more than the same money would have earned at the previous auction.
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 | 10.200% | 10.000% | NGN 6.22bn | NGN 6.22bn | NGN 6.22bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 14 June 2018, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2018-06-14
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