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The short answer
UBA's own treasury bills guide (November 2022) says you can buy T-bills through the bank from ₦50,000, in 91, 182 or 364-day tenors. Existing customers send a letter of instruction authorising a debit, plus a signed custodial authority and KYC form; the account officer checks the papers and passes the request to UBA Treasury. Confirm the current minimum and rate with Treasury Sales before you fund the account.
What UBA says about its treasury bills service
United Bank for Africa (UBA) publishes a guide on its 57 Marina blog, dated 21 November 2022 and updated four days later, that explains how its customers invest in Federal Government treasury bills. It is the most detailed retail T-bill page among the large Nigerian banks we checked, and it sets out four things clearly: the minimum, the tenors, the documents and the steps.
- Minimum purchase
- ₦50,000, per UBA's November 2022 guide; the maximum is "subject to availability in the market"
- Tenors
- 91, 182 and 364 days
- Markets
- Primary (the CBN's bi-weekly auction) and secondary (bills UBA sells from the market)
- How you earn
- Bought at a discount; no monthly interest; face value paid into your account at maturity
- Contacts
- Treasurysales@ubagroup.com, +234-1-2808852 (as listed on the guide)
The ₦50,000 figure is low by bank standards. For comparison, FirstBank's and Stanbic IBTC's pages put the direct primary-auction minimum at ₦50,001,000, which suggests the ₦50,000 route at UBA is a secondary-market purchase or a pooled bid rather than your own bid at the auction. UBA's guide does not spell that out, so ask which market your order will go into. A guide from 2022 may also be out of date; treat ₦50,000 as the figure to confirm, not the figure to rely on.
Documents UBA asks for
The guide splits customers into two groups. The lists below are copied from it, in its own order.
If you already bank with UBA
- A letter expressing interest in investing in treasury bills and authorising UBA to debit your account
- A signed custodial authority (this lets the bank hold the bills on your behalf)
- A copy of a signed physical bill showing the issuer's name
- A signed investment contract confirmation letter showing the issuer's name
- A KYC form
If you are new to UBA
- An account opening form, a passport photograph and a government-issued ID
- A lodgement slip or cheque to fund the account
- The same signed custodial authority, signed bill copy and investment contract confirmation letter
The bill copy and confirmation letter are documents the bank prepares for you to sign once a deal is agreed, so in practice you start with the letter of instruction and the custodial authority, then sign the rest when Treasury confirms the rate. For a field-by-field guide to these papers, see how to fill a treasury bill subscription form.
Steps to buy T-bills through UBA
- Email Treasury Sales or speak to your account officer and ask for today's rates, the current minimum, and whether your order will be a primary-auction bid or a secondary-market purchase.
- Choose a tenor: 91, 182 or 364 days.
- Write and sign your letter of instruction: your name, account number, the face value (or amount) you want, the tenor, and authority to debit the account.
- Sign the custodial authority and the KYC form, and fund the account with at least the discounted price.
- Your account officer checks the documents and forwards the request to Treasury, as UBA's guide describes.
- Sign the confirmation letter and keep a copy. It is your record of the face value, rate and maturity date.
Timing: auction days and the secondary market
UBA's guide says primary T-bills are sold through a bi-weekly CBN auction on the dates the Federal Government schedules. Stanbic IBTC's FAQ adds that auctions usually hold every two weeks on Wednesdays unless the CBN advises otherwise. If you want an auction bill, your instruction and funds need to reach UBA before its internal cut-off for that auction, which the guide does not state, so ask. Secondary-market bills can be bought on most working days, at whatever rates the bank is quoting. Our explainer on how T-bill auctions work covers the auction process itself.
Worked example: what ₦500,000 buys
Example only, using an assumed discount rate of 16% a year on a 182-day bill and a 365-day year. Ask UBA for the actual rate on the day.
| Item | Amount |
|---|---|
| Face value (paid back at maturity) | ₦500,000.00 |
| Discount: 500,000 × 16% × 182 ÷ 365 | ₦39,890.41 |
| Price debited from your account | ₦460,109.59 |
| Return on money paid, annualised | about 17.39% |
The second rate is higher because you earn the discount on ₦460,109.59, not ₦500,000. That gap is why the quoted rate and the true yield differ; this worked example goes through the arithmetic. UBA's guide mentions no fees, but check whether custody or transaction charges apply before you sign.
Tax, maturity and selling early
UBA's 2022 guide says T-bill interest is not subject to tax. Tax rules have changed since then, so check the current position before relying on it; our article on whether T-bill returns are taxed tracks this. At maturity, the guide says you can buy another available bill or take your money back, so give a clear instruction either way. The guide describes T-bills as liquid but gives no procedure or cost for selling before maturity; ask Treasury Sales how they would price an early sale.
Where Pryme fits
Pryme does not sell treasury bills. If you keep naira in Pryme, you can send it to your UBA account to fund a purchase. For money you want to set aside in the app instead, Savings Boxes show their rates in the app before you commit; they are naira products run with Solid Allianze MFB, not government securities.
Questions people ask
What is the minimum for UBA treasury bills?
UBA's November 2022 guide says ₦50,000. That page is old, so confirm the current minimum with UBA Treasury Sales before funding your account.
Can I buy UBA treasury bills online?
The guide describes a document route through your account officer and Treasury, not an online form. Ask whether the UBA app or internet banking now offers T-bills.
How do I contact UBA treasury for T-bills?
The guide lists Treasurysales@ubagroup.com and +234-1-2808852. You can also go through your account officer at your branch.
Does UBA pay T-bill interest monthly?
No. You pay the discounted price up front and receive the full face value at maturity, according to UBA's guide.
Sources
- UBA 57 Marina: How to invest in Treasury Bills in Nigeria (21 Nov 2022, updated 25 Nov 2022) · accessed Oct 2026
- Stanbic IBTC: Treasury Bills FAQs (undated PDF; indicative rates shown as at 4 Aug 2023) · accessed Oct 2026
- FirstBank: Treasury Bills (business treasury page, undated) · 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.