By MICHAEL EBOH
A decline was recorded in transactions in the Over-The-Counter, OTC, market for Federal Government of Nigeria, FGN, bonds last week, as the volume of bonds traded depreciated by 0.34.

However, despite the decline in turnover, the value of the bonds appreciated in the week under review by 1.98 per cent.

Particularly, a turnover of 100.19 million units valued at N91.388 billion in 435 deals, in contrast to a turnover of 100.532 million units valued at N89.61billion in 672 deals recorded in the preceding week ended May 25th, 2012.

Federal Government bond Series 2 with a maturity date of 2015, tagged FG7B2015S2, recorded the highest transaction in the sector, accounting for 35.5 per cent of the total transaction with 35.565 million units valued at N28.015 billion.

FG9B2022S1 followed, accounting for 25.55 per cent of the market turnover, with 25.6 million units valued at N28.173 billion, while FG8B2014S1 accounted for 11.98 per cent of the market turnover with 12 million units valued at N11.44 billion.

FG9B2017S2 traded 6.49 million units valued at N6.979 billion; FG5B2018S2 recorded a turnover of 5.583 million units valued at N4.924 billion and FG7B2030S3 traded 5.2 million units valued at N4.333 billion.

Others are: FG7B2013S1 with a turnover of 5.1 million units valued at N4.816 billion and FG6B2019S4, recording a turnover of 4.2 million units valued at N2.707 billion.

Also, NewGold Exchange Traded Fund, ETF, recorded a turnover of 1,920 units valued at N4.665 million in six deals.

However, there were no transactions in the Federal Government Development Stocks, State/Local Government Bonds and Corporate Bonds/Debentures Stocks sectors.