Nigeria Treasury bills · auction of 31 May 2006
Nigeria T-bill auction, 31 May 2006: 182-day at 6.65%, up 15 bps
At the Treasury bill auction dated 31 May 2006, the Central Bank of Nigeria set stop rates on the 182-day bill at 6.65% (up 15 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was undersubscribed: bids totalled NGN 6.2bn against NGN 10.0bn on offer, 62% of the amount sought, and NGN 6.2bn was accepted.
Over the past year the 182-day rate has ranged from 4.50% to 14.24%.
A year earlier the 182-day bill cleared at 6.50%, so the government is paying 15 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 33,250 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 1,033,250 after 6 months: NGN 33,250 in interest before any withholding tax, about NGN 5,542 a month.
That is NGN 750 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 | 6.650% | 6.500% | NGN 10.00bn | NGN 6.23bn | NGN 6.23bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 31 May 2006, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2006-05-31
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