How to Buy Treasury Bills in Nigeria (2026)

Treasury bills are about the safest place to park naira you won't need for a few months — short-term loans to the Federal Government, backed by the Government itself. Here's how they work, the returns to expect, and exactly how to buy them.

The safe end of investing. T-bills are FGN-backed, so the risk of not being repaid is very low — but returns are still indicative and change at every auction. Confirm the current rate before you commit.

What treasury bills are

You lend the Government money for a fixed, short period and get it back with interest at the end. They come in three tenors:

• 91 days (about 3 months)
• 182 days (about 6 months)
• 364 days (about 1 year)

Interest is typically paid upfront (deducted from what you pay in), and returns have recently run in roughly the 12%–20% a year range depending on the tenor and the auction — higher than a bank savings account, for near-zero credit risk.

How to buy — the practical route

You can buy directly from the CBN, but the primary-market minimum is very high (tens of millions of naira), so almost everyone buys through an intermediary:

1. Pick a channel — your bank (GTBank, Zenith, Access, First Bank and others have T-bill desks/online options), a licensed stockbroker/asset manager, or a SEC-registered investment app.
2. Open a T-bills investment account — provide a valid ID, passport photo, BVN and your bank details.
3. Place your bid with the amount, tenor and (sometimes) a bid rate. Minimums through these channels commonly start around ₦100,000.
4. Wait for the auction — the CBN's Primary Market Auction runs roughly every two weeks (Wednesdays); your provider tells you the outcome and credits the interest.
5. At maturity, your principal returns to your account — you can withdraw or roll it over into the next auction.

Where T-bills fit

T-bills are the low-risk anchor of a portfolio — ideal for an emergency fund's "won't touch for months" portion or money earmarked for a near goal. For higher (and riskier) returns, fund-based platforms sit alongside them — compare them on our savings & investment platforms page, and see the overview in our savings & fixed deposits guide. Plan the amount with the affordability calculator.

Frequently asked questions

How much do I need to start? Buying directly from the CBN needs tens of millions, but through a bank, broker or investment app minimums commonly start around ₦100,000.

Are treasury bills safe? They're backed by the Federal Government, so credit risk is very low — the main variable is the rate, which changes each auction. (They're not the same as an NDIC-insured bank deposit, but the FGN backing is why they're considered very safe.)

How often can I buy? The CBN auction runs about every two weeks, so there's a regular window to buy or roll over maturing bills.

Educational information, not financial advice. T-bills are FGN-backed but returns are indicative and set at each auction — confirm the current rate (and any tax treatment under the 2026 tax law) with your provider or the NRS before investing.