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The short answer
Stanbic IBTC's Treasury Bills FAQ says you need a Stanbic IBTC Bank account, then either complete the Treasury Bill Auction Bid Form for the primary market (minimum ₦50,001,000) or email a letter of instruction to your relationship manager, copying Invest@stanbicibtc.com, for the secondary market. The FAQ lists a ₦300 transaction fee, a 0.05% custody fee and 7.5% VAT, but gives two conflicting secondary-market minimums, so confirm the figure before you fund.
Who can buy and what you need first
Stanbic IBTC Bank publishes a Treasury Bills FAQ as a PDF. It is undated, though its indicative rates are labelled "as of 04 August 2023", so the process is a useful guide but every figure should be confirmed with the bank. The FAQ says individuals, joint applicants and businesses can invest, and that every investor needs an account with Stanbic IBTC Bank. If you have one, you can start; if not, open one first. For how T-bills work across all banks, see our guide to buying treasury bills in Nigeria.
The FAQ names three forms:
- Treasury Bills request form, used for both primary and secondary purchases
- Custodial agreement form, if you do not already have a custodian to hold your bills
- Treasury Bill Auction Bid Form, for the primary market only
Two routes: primary auction or secondary market
| Primary market | Secondary market | |
|---|---|---|
| Who sells | The CBN, at auction | Banks, stockbrokers and discount houses trading existing bills |
| When | Every two weeks on Wednesdays, unless the CBN advises otherwise | Monday to Friday, 10am to 4pm |
| Minimum (per FAQ) | ₦50,001,000 | ₦100,000 in one place, ₦100,000,000 in another; ₦10,000 increments |
| How to apply | Treasury Bill Auction Bid Form | Email letter of instruction to your relationship manager, copy Invest@stanbicibtc.com |
| Extra fee | ₦100 commission | None listed beyond the standard fees |
The secondary-market minimum is the figure most retail savers care about, and the FAQ contradicts itself on it: one section says ₦100,000 and another ₦100,000,000. Both cannot be right. Before you move money, ask your relationship manager or email Invest@stanbicibtc.com and get the current minimum in writing. The FAQ also says primary bills tend to carry longer tenors and higher rates, while secondary bills are shorter and pay less.
On tenor, the FAQ groups bills into short term (under 90 days), medium term (91 to 180 days) and long term (181 to 364 days). A secondary-market bill is simply one already issued, so its remaining days can be any number up to its original tenor. Pick a maturity date that matches when you will need the money, because selling early depends on what a buyer will pay. If you are unsure which length suits you, our comparison of 91, 182 and 364-day bills sets out the trade-offs.
Steps for a secondary-market purchase
- Fund your Stanbic IBTC Bank account with at least the discounted price. The FAQ asks you to do this before you submit.
- Write a letter of instruction stating the investment amount or face value and your preferred tenor.
- Email it to your relationship manager and copy Invest@stanbicibtc.com.
- Complete the Treasury Bills request form and, if you have no custodian yet, the Custodial agreement form.
- Keep the investment certificate you receive. The FAQ says you need it, with a signed instruction letter, if you later sell before maturity.
Can you buy through the Stanbic IBTC app?
The FAQ says online investing is possible "by following the steps above" or by emailing Invest@stanbicibtc.com for guidance. It does not describe a T-bills menu in the mobile app or internet banking, and we could not confirm one. If you prefer to do it in the app, check its investment menu or ask customer care on 0700 909 9099 (the number TechCabal listed in May 2026).
What it costs: a worked example
The FAQ lists a ₦300 transaction fee, a custody fee of 0.05% of face value, and a ₦100 commission on primary auctions only, with VAT of 7.5% on all three. It does not say whether the custody fee is charged once or periodically, so ask.
Example only: a secondary-market 91-day bill with a face value of ₦5,000,000 at an assumed discount rate of 17% a year (365-day year).
| Item | Amount |
|---|---|
| Discount: 5,000,000 × 17% × 91 ÷ 365 | ₦211,917.81 |
| Price debited | ₦4,788,082.19 |
| Transaction fee | ₦300.00 |
| Custody fee: 0.05% × ₦5,000,000 | ₦2,500.00 |
| VAT at 7.5% on ₦2,800 | ₦210.00 |
| Total fees | ₦3,010.00 |
| Discount earned less fees | ₦208,907.81 |
The FAQ explains the discount with its own simpler example: a ₦100,000 bill at a 10% discount costs ₦90,000, and ₦100,000 is credited at maturity. On a bill this short, the fixed fees matter less than the rate, but on a small bill they take a bigger share. Our T-bill discount worked example shows how the quoted rate converts into a true yield.
Selling early and what to check
To sell before maturity, the FAQ says you submit a signature-verified instruction letter (with an email indemnity if you instruct by email) and your investment certificate to your dealer bank, discount house or stockbroker. Its section on early-termination penalties is blank, so ask what price you would get. Our guide to selling a T-bill before maturity explains why the price can move.
- The current secondary-market minimum, in writing
- Today's rate for your tenor, not the 2023 indicative figures in the FAQ
- How often the custody fee is charged
- Whether the app now offers T-bills directly
Where Pryme fits
Pryme does not offer treasury bills. You can send naira from Pryme to your Stanbic IBTC account to fund a purchase. For smaller sums you want to keep in the app, Savings Boxes show their current rates in the app before you commit.
Questions people ask
What is the minimum amount for Stanbic IBTC treasury bills?
The FAQ gives ₦50,001,000 for primary auctions. For the secondary market it says ₦100,000 in one place and ₦100,000,000 in another, so confirm with your relationship manager.
How do I buy treasury bills on the Stanbic IBTC app?
The FAQ does not describe an app menu for T-bills. It says to email a letter of instruction to your relationship manager, copying Invest@stanbicibtc.com, or email that address for guidance.
What are Stanbic IBTC's T-bill charges?
The FAQ lists ₦300 per transaction, 0.05% of face value for custody, ₦100 commission on primary auctions, and 7.5% VAT on each.
Can I sell my Stanbic IBTC treasury bill before maturity?
Yes, on the secondary market. The FAQ says you submit a signature-verified instruction letter and your investment certificate; the price depends on the market that day.
Sources
- Stanbic IBTC: Treasury Bills FAQs (undated PDF; indicative rates shown as at 4 Aug 2023) · accessed Oct 2026
- TechCabal: Customer care numbers for banks and fintechs in Nigeria (22 May 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.