Nigeria Treasury bills · auction of 10 June 2020
Nigeria T-bill auction, 10 June 2020: 364-day at 4.02%, unchanged
At the Treasury bill auction dated 10 June 2020, the Central Bank of Nigeria set stop rates on the 91-day bill at 2.00% (down 45 basis points), the 182-day bill at 2.20% (down 52 basis points) and the 364-day bill at 4.02% (unchanged). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 176.9bn against NGN 90.9bn on offer, 195% of the amount sought, and NGN 90.9bn was accepted.
Over the past year the 364-day rate has ranged from 3.84% to 13.30%.
A year earlier the 364-day bill cleared at 12.20%, so the government is paying 818 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 40,200 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 1,040,200 after 12 months: NGN 40,200 in interest before any withholding tax, about NGN 3,350 a month.
That is NGN 1 more than the same money would have earned at the previous auction.
For shorter money: NGN 11,000 on the 182-day bill (6 months), NGN 5,000 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 | 2.000% | 2.450% | NGN 1.80bn | NGN 21.68bn | NGN 4.41bn |
| 182-day | 2.200% | 2.720% | NGN 4.50bn | NGN 40.29bn | NGN 7.82bn |
| 364-day | 4.020% | 4.020% | NGN 84.64bn | NGN 114.97bn | NGN 78.71bn |
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, 10 June 2020, compiled from the Central Bank of Nigeria. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2020-06-10
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.