Nigeria Treasury bills · auction of 21 September 2005
Nigeria T-bill auction, 21 September 2005: 182-day at 5.72%, down 77 bps
At the Treasury bill auction dated 21 September 2005, the Central Bank of Nigeria set stop rates on the 182-day bill at 5.72% (down 77 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 61.7bn against NGN 25.0bn on offer, 247% of the amount sought, and NGN 25.0bn 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 28,600 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 1,028,600 after 6 months: NGN 28,600 in interest before any withholding tax, about NGN 4,767 a month.
That is NGN 3,850 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 | 5.720% | 6.490% | NGN 25.00bn | NGN 61.70bn | 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, 21 September 2005, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2005-09-21
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