BY MICHAEL EBOH

A slight improvement was recorded in trading in the Over-the-Counter, OTC, market for Federal Government of Nigeria bonds last week, as the volume of shares traded appreciated by 10.67 per cent.

In particular, a turnover of 157.26 million was recorded last week, compared to a turnover of 142.1 million recorded in the previous week.

Also, the value staked on the bonds appreciated by 16.45 per cent to N147.842 billion from N126.954 billion recorded in the previous week.

To this end, a turnover of 157.26 million units valued at N147.842 billion in 1,020 deals in contrast to a total of 142.1 million units valued at N126.954 billion exchanged in 810 deals during the week ended Thursday, August 18, 2011.

The 4.00% FGN April 2015 (7th FGN Bond 2015 Series 2) recorded the highest patronage in the sector, accounting for 24.55 per cent of the market turnover, with 38.6 million units valued at N31.307 billion in 288 deals.

The 8th FGN Bond 2014 Series 1, followed, accounting for 23.59 per cent of the market turnover, with the exchange of 37.1 million units valued at N38.509 billion in 260 deals.

Of the 28 FGN Bonds available, only 16 enjoyed investors’ patronage compared with eight in the preceding week.