BY  MICHAEL EBOH

A significant improvement  was recorded in transactions in the Over-the-Counter, OTC, market for Federal Government of Nigeria, FGN, Bonds, as the value and volume of bonds traded appreciated by 10.01 per cent and 11.75 per cent respectively.

Specifically, a turnover of turnover of 129.62 million units valued at N111.73 billion was recorded in 803 deals.
This was in contrast to the previous week’s turnover of 115.99 million units valued at N101.566 billion in 1,029 deals.

The 16.39 per cent FGN January 2022 (9th FGN Bond 2022 Series 1) bond recorded the highest patronage in the sector, accounting for 24.98 per cent of the total market turnover, with 32.38 million units valued at N34.9 billion in 284 deals.

The 7.00 per cent per cent FGN October 2019 (6th FGN Bond 2019 Series 4) bond followed, accounting for 20.91 per cent of the market turnover, with 27.10 million units valued at N18.05 billion in 125 deals.

Of the 26 FGN bonds available, only eight enjoyed investors’ patronage, the same number traded upon in the preceding week.

Also traded during the week were 30 units of NewGold Exchange Traded Products, ETFs, valued at N76,290 in five deals.

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