U.N CHIEF GUTERRES CALLS FOR COUNTRIES FUELING SUDAN'S WAR TO BE HELD ACCOUNTABLE. (PHOTO).

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 U.N chief Guterres calls for countries fueling Sudan's war to be held accountable United Nations Secretary-General Antonio Guterres called on Wednesday for countries providing weapons to the warring parties in Sudan that are used to attack civilians to be held accountable. "What is happening in Sudan is absolutely horrible. The humanitarian situation in Sudan is devastating. The level of suffering of the Sudanese people is intolerable," Guterres told reporters ahead of the annual gathering of world leaders at the United Nations in New York next week. Sudan's war, which erupted in April 2023 following a power struggle between the military and the paramilitary Rapid Support Forces, has displaced more than 14 million people and created one of the world's worst humanitarian crises. "It is true that the conflict is fueled by a number of countries from the outside," Guterres said, Reuters reported. "In my opinion, there should be accountability for the k...
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NIGERIAN NAIRA FALLS TO RECORD LOW ON OFFICIAL MARKET.(PHOTO).

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Nigerian naira falls to record low on official market

(Reuters) - Nigeria's naira dropped to a record low against the dollar on the official market on Tuesday in thin trading, swinging widely to levels seen on the unofficial parallel market, where the currency trades freely.

The naira fell as low as 1,248 to the dollar, during mid-day trading, LSEG data showed after it opened at 927 naira on Tuesday. It later recovered to 845 naira.

Central Bank of Nigeria Governor Olayemi Cardoso has said he would allow market forces to determine exchange rates while setting clear, transparent and harmonised rules governing market operations.

The comments and chronic dollar shortages on the official market have prompted the naira's official exchange rate to drift towards the parallel market level.

The currency sold at around 1,225 naira on the parallel market on Tuesday, while it was quoted at 1,002.50 naira on the one month non-deliverable forwards market .

 

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