Nigeria Treasury bills · auction of 3 June 2026
Nigeria T-bill auction, 3 June 2026: 364-day at 16.35%, up 20 bps
At the Treasury bill auction dated 3 June 2026, the Central Bank of Nigeria set stop rates on the 91-day bill at 16.05% (up 10 basis points), the 182-day bill at 16.19% (up 5 basis points) and the 364-day bill at 16.35% (up 20 basis points). The rate shown is the stop (issue) rate at the primary auction.
The auction was fully subscribed: bids totalled NGN 1457.8bn against NGN 1000.0bn on offer, 146% of the amount sought, and NGN 1457.3bn was accepted.
Over the past year the 364-day rate has ranged from 15.77% to 18.84%.
A year earlier the 364-day bill cleared at 19.50%, so the government is paying 315 basis points less than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 163,500 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 1,163,500 after 12 months: NGN 163,500 in interest before any withholding tax, about NGN 13,625 a month.
That is NGN 2,010 more than the same money would have earned at the previous auction.
For shorter money: NGN 80,950 on the 182-day bill (6 months), NGN 40,125 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 | 16.050% | 15.950% | NGN 100.00bn | NGN 131.18bn | NGN 131.18bn |
| 182-day | 16.190% | 16.140% | NGN 100.00bn | NGN 83.55bn | NGN 82.98bn |
| 364-day | 16.350% | 16.149% | NGN 800.00bn | NGN 1243.12bn | NGN 1243.12bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
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Afronomics (2026). Nigeria Treasury bill auction, 3 June 2026, compiled from the Central Bank of Nigeria. Retrieved 2 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2026-06-03
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