By Michael Eboh

Investors’ appetite for Federal Government of Nigeria’s, FGN Bonds increased last week, with a significant improvement recorded in trading in the Over-the-Counter, OTC, Bond market, as investors staked N141.688 billion on 157.68 million units of bonds in 1,064 transactions.

In particular, this represents an appreciation of 62.02 per cent and 59.27 per cent on the value and volume traded respectively, in contrast to the previous week’s turnover of 99 million units valued at N87.449 billion exchanged in 688 deals.

The four per cent FGN, April 2015 bond (7th FGN Bond 2015 Series 2) recorded the highest patronage in the OTC market, accounting for 32.98 per cent of the market turnover, with 52 million units valued at N40.995 billion in 329 deals.

The 8th FGN Bond 2014 Series 1 followed, accounting for 28.49 per cent of the market turnover, with 44.92 million units valued at N44.78 billion in 308 deals.

Of the 29 FGN bonds available, only 13 enjoyed investors’ patronage, compared to 10 in the preceding week.

However, there were no transactions through the stock market in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.