APEX

From a "Select List with Submit", I'm constructing a SQL that looks like -

select * from emp
where :P1_SELECT_LIST_VALUE = 'Y'

When I look at the session, the value passes from the select list is correct and if I run the query with the hardcoded column value, a few records are returned.
BUT, this binding does not work.

i.e when I run the above query in SQL Commands - and I bind COLUMN_X to :P1_SELECT_LIST_VALUE, it DOES NOT WORK!

Am I missing something here? My thinking is that APEX is substituting the bind variable within quotes????

thanks,
p