Nigeria Treasury bills · auction of 13 June 2019
Nigeria T-bill auction, 13 June 2019: 364-day at 12.34%, up 14 bps
At the Treasury bill auction dated 13 June 2019, the Central Bank of Nigeria set stop rates on the 91-day bill at 10.00% (unchanged), the 182-day bill at 11.95% (unchanged) and the 364-day bill at 12.34% (up 14 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 265.0bn against NGN 129.6bn on offer, 204% of the amount sought, and NGN 129.6bn was accepted.
Over the past year the 364-day rate has ranged from 11.22% to 15.00%.
A year earlier the 364-day bill cleared at 11.50%, so the government is paying 84 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 123,400 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 1,123,400 after 12 months: NGN 123,400 in interest before any withholding tax, about NGN 10,283 a month.
That is NGN 1,400 more than the same money would have earned at the previous auction.
For shorter money: NGN 59,750 on the 182-day bill (6 months), NGN 25,000 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 | 10.000% | 10.000% | NGN 15.00bn | NGN 15.20bn | NGN 15.00bn |
| 182-day | 11.950% | 11.950% | NGN 30.00bn | NGN 39.02bn | NGN 30.00bn |
| 364-day | 12.340% | 12.200% | NGN 84.64bn | NGN 210.81bn | NGN 84.64bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 13 June 2019, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2019-06-13
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