Nigeria Treasury bills · auction of 1 July 2005
Nigeria T-bill auction, 1 July 2005: 364-day at 10.50%
At the Treasury bill auction dated 1 July 2005, the Central Bank of Nigeria set stop rates on the 364-day bill at 10.50%. The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 80.7bn against NGN 25.0bn on offer, 323% of the amount sought, and NGN 25.0bn was accepted.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 105,000 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 1,105,000 after 12 months: NGN 105,000 in interest before any withholding tax, about NGN 8,750 a month.
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 |
|---|---|---|---|---|---|
| 364-day | 10.500% | — | NGN 25.00bn | NGN 80.65bn | NGN 25.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 1 July 2005, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2005-07-01
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