Nigeria Treasury bills · auction of 6 October 2006
Nigeria T-bill auction, 6 October 2006: 364-day at 10.00%, unchanged
At the Treasury bill auction dated 6 October 2006, the Central Bank of Nigeria set stop rates on the 364-day bill at 10.00% (unchanged). The rate shown is the stop (issue) rate at the primary auction.
The auction was undersubscribed: bids totalled NGN 24.6bn against NGN 25.0bn on offer, 99% of the amount sought, and NGN 24.4bn was accepted.
Over the past year the 364-day rate has ranged from 8.95% to 17.00%.
A year earlier the 364-day bill cleared at 6.90%, so the government is paying 310 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 100,000 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 1,100,000 after 12 months: NGN 100,000 in interest before any withholding tax, about NGN 8,333 a month.
That is the same as 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 | 10.000% | 10.000% | NGN 25.00bn | NGN 24.65bn | NGN 24.45bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 6 October 2006, compiled from the Central Bank of Nigeria. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2006-10-06
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