At the Treasury bill auction dated 11 November 2026, the Central Bank of Nigeria set stop rates on the 182-day bill at 15.79% (unchanged) and the 364-day bill at 15.89% (up 9 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 1102.1bn against NGN 700.0bn on offer, 157% of the amount sought, and NGN 695.2bn was accepted.
Over the past year the 364-day rate has ranged from 15.80% to 18.47%.
A year earlier the 364-day bill cleared at 16.04%, so the government is paying 15 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 158,900 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 1,158,900 after 12 months: NGN 158,900 in interest before any withholding tax, about NGN 13,242 a month.
That is NGN 900 more than the same money would have earned at the previous auction.
For shorter money: NGN 78,950 on the 182-day bill (6 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 |
|---|---|---|---|---|---|
| 182-day | 15.790% | 15.790% | NGN 100.00bn | NGN 23.02bn | NGN 22.28bn |
| 364-day | 15.890% | 15.800% | NGN 600.00bn | NGN 1079.10bn | NGN 672.91bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 11 November 2026, compiled from the Central Bank of Nigeria. Retrieved 11 November 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2026-11-11
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