Nigeria Treasury bills · auction of 7 September 2005
Nigeria T-bill auction, 7 September 2005: 182-day at 6.62%, up 212 bps
At the Treasury bill auction dated 7 September 2005, the Central Bank of Nigeria set stop rates on the 182-day bill at 6.62% (up 212 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 24.0bn against NGN 20.0bn on offer, 120% of the amount sought, and NGN 20.0bn was accepted.
Over the past year the 182-day rate has ranged from 4.50% to 16.00%.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 33,100 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 1,033,100 after 6 months: NGN 33,100 in interest before any withholding tax, about NGN 5,517 a month.
That is NGN 10,600 more 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 | 6.620% | 4.500% | NGN 20.00bn | NGN 23.95bn | NGN 20.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 7 September 2005, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2005-09-07
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