Nigeria Treasury bills · auction of 5 October 2006
Nigeria T-bill auction, 5 October 2006: 91-day at 6.50%, up 200 bps
At the Treasury bill auction dated 5 October 2006, the Central Bank of Nigeria set stop rates on the 91-day bill at 6.50% (up 200 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was undersubscribed: bids totalled NGN 9.4bn against NGN 10.0bn on offer, 94% of the amount sought, and NGN 9.4bn was accepted.
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 3.00%, 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 16,250 in 3 months on the 91-day bill
Put NGN 1,000,000 into the 91-day bill at this auction and you get back NGN 1,016,250 after 3 months: NGN 16,250 in interest before any withholding tax, about NGN 5,417 a month.
That is NGN 5,000 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 |
|---|---|---|---|---|---|
| 91-day | 6.500% | 4.500% | NGN 10.00bn | NGN 9.40bn | NGN 9.40bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Central Bank of Nigeria” and a link to this page.
Afronomics (2026). Nigeria Treasury bill auction, 5 October 2006, compiled from the Central Bank of Nigeria. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2006-10-05
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.