Nigeria Treasury bills · auction of 2 December 2005
Nigeria T-bill auction, 2 December 2005: 364-day at 17.00%, up 1010 bps
At the Treasury bill auction dated 2 December 2005, the Central Bank of Nigeria set stop rates on the 364-day bill at 17.00% (up 1010 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was undersubscribed: bids totalled NGN 5.3bn against NGN 25.0bn on offer, 21% of the amount sought, and NGN 5.3bn was accepted.
At 17.00%, the 364-day rate is the highest in the 4 auctions of the past year.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 170,000 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 1,170,000 after 12 months: NGN 170,000 in interest before any withholding tax, about NGN 14,167 a month.
That is NGN 101,000 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 |
|---|---|---|---|---|---|
| 364-day | 17.000% | 6.900% | NGN 25.00bn | NGN 5.30bn | NGN 5.30bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 2 December 2005, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2005-12-02
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