Nigeria Treasury bills · auction of 13 July 2006
Nigeria T-bill auction, 13 July 2006: 91-day at 7.50%, down 50 bps
At the Treasury bill auction dated 13 July 2006, the Central Bank of Nigeria set stop rates on the 91-day bill at 7.50% (down 50 basis points) and the 182-day bill at 10.90% (down 85 basis points). The rate shown is the stop (issue) rate at the primary auction.
Bids totalled NGN 40.6bn and NGN 20.0bn was accepted, 49% of what was bid.
Over the past year the 91-day rate has ranged from 3.00% to 12.50%.
A year earlier the 91-day bill cleared at 4.00%, so the government is paying 350 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 54,500 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 1,054,500 after 6 months: NGN 54,500 in interest before any withholding tax, about NGN 9,083 a month.
That is NGN 4,250 less than the same money would have earned at the previous auction.
For shorter money: NGN 18,750 on the 91-day bill (3 months).
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 |
|---|---|---|---|---|---|
| 91-day | 7.500% | 8.000% | — | NGN 13.01bn | NGN 10.00bn |
| 182-day | 10.900% | 11.750% | — | NGN 27.63bn | NGN 10.00bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 13 July 2006, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2006-07-13
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