Nigeria Treasury bills · auction of 7 October 2026
Nigeria T-bill auction, 7 October 2026: 364-day at 15.85%, down 4 bps
At the Treasury bill auction dated 7 October 2026, the Central Bank of Nigeria set stop rates on the 91-day bill at 15.50% (unchanged) and the 364-day bill at 15.85% (down 4 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 1722.9bn against NGN 800.0bn on offer, 215% of the amount sought, and NGN 923.6bn was accepted.
At 15.85%, the 364-day rate is the lowest in the 26 auctions of the past year.
A year earlier the 364-day bill cleared at 16.78%, so the government is paying 93 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 158,500 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 1,158,500 after 12 months: NGN 158,500 in interest before any withholding tax, about NGN 13,208 a month.
That is NGN 400 less than the same money would have earned at the previous auction.
For shorter money: NGN 38,750 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 | 15.500% | 15.500% | NGN 100.00bn | NGN 39.42bn | NGN 38.55bn |
| 364-day | 15.850% | 15.890% | NGN 700.00bn | NGN 1683.43bn | NGN 885.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 7 October 2026, compiled from the Central Bank of Nigeria. Retrieved 7 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2026-10-07
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