Nigeria Treasury bills · auction of 5 May 2006
Nigeria T-bill auction, 5 May 2006: 364-day at 8.95%, down 73 bps
At the Treasury bill auction dated 5 May 2006, the Central Bank of Nigeria set stop rates on the 364-day bill at 8.95% (down 73 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 49.6bn against NGN 25.0bn on offer, 198% of the amount sought, and NGN 25.0bn was accepted.
Over the past year the 364-day rate has ranged from 6.90% to 17.00%.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 89,500 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 1,089,500 after 12 months: NGN 89,500 in interest before any withholding tax, about NGN 7,458 a month.
That is NGN 7,300 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 |
|---|---|---|---|---|---|
| 364-day | 8.950% | 9.680% | NGN 25.00bn | NGN 49.58bn | 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, 5 May 2006, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2006-05-05
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