Nigeria Treasury bills · auction of 2 June 2005
Nigeria T-bill auction, 2 June 2005: 91-day at 5.25%, down 80 bps
At the Treasury bill auction dated 2 June 2005, the Central Bank of Nigeria set stop rates on the 91-day bill at 5.25% (down 80 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 50.9bn against NGN 25.1bn on offer, 203% of the amount sought, and NGN 25.1bn was accepted.
At 5.25%, the 91-day rate is the lowest in the 43 auctions of the past year.
A year earlier the 91-day bill cleared at 14.50%, so the government is paying 925 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 13,125 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 1,013,125 after 3 months: NGN 13,125 in interest before any withholding tax, about NGN 4,375 a month.
That is NGN 2,000 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 | 5.250% | 6.050% | NGN 25.05bn | NGN 50.87bn | NGN 25.05bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 2 June 2005, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2005-06-02
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