Nigeria Treasury bills · auction of 24 March 2005
Nigeria T-bill auction, 24 March 2005: 91-day at 10.50%, down 50 bps
At the Treasury bill auction dated 24 March 2005, the Central Bank of Nigeria set stop rates on the 91-day bill at 10.50% (down 50 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 76.2bn against NGN 55.8bn on offer, 137% of the amount sought, and NGN 55.8bn was accepted.
At 10.50%, the 91-day rate is the lowest in the 43 auctions of the past year.
A year earlier the 91-day bill cleared at 14.48%, so the government is paying 398 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 26,250 in 3 months on the 91-day bill
Put NGN 1,000,000 into the 91-day bill at this auction and you get back NGN 1,026,250 after 3 months: NGN 26,250 in interest before any withholding tax, about NGN 8,750 a month.
That is NGN 1,250 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 |
|---|---|---|---|---|---|
| 91-day | 10.500% | 11.000% | NGN 55.81bn | NGN 76.20bn | NGN 55.81bn |
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, 24 March 2005, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2005-03-24
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.