Nigeria Treasury bills · auction of 27 October 2004
Nigeria T-bill auction, 27 October 2004: 182-day at 14.49%, down 126 bps
At the Treasury bill auction dated 27 October 2004, the Central Bank of Nigeria set stop rates on the 182-day bill at 14.49% (down 126 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 5.0bn against NGN 5.0bn on offer, 100% of the amount sought, and NGN 5.0bn was accepted.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 72,450 in 6 months on the 182-day bill
Put NGN 1,000,000 into the 182-day bill at this auction and you get back NGN 1,072,450 after 6 months: NGN 72,450 in interest before any withholding tax, about NGN 12,075 a month.
That is NGN 6,300 less than the same money would have earned at the previous auction.
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 | 14.490% | 15.750% | NGN 5.00bn | NGN 5.00bn | NGN 5.00bn |
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, 27 October 2004, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2004-10-27
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.