RUSSIA LAUNCHES MASSIVE DRONE AND MISSILE BARRAGE ON UKRAINE, KILLING AT LEAST 18 CIVILIANS AND STRIKING KYIV AND MULTIPLE CITIES. (PHOTO).

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 Russia launches massive drone and missile barrage on Ukraine, killing at least 18 civilians and striking Kyiv and multiple cities  Russia carried out a large-scale overnight assault on Ukraine, launching hundreds of drones and dozens of missiles that killed at least 18 civilians and wounded more than 100 others across multiple cities, officials said Tuesday. The strikes hit Kyiv, Dnipro and other regions, with emergency crews working through destroyed residential buildings where some victims were trapped under rubble. In Dnipro, rescuers recovered the bodies of a 3-year-old child and a mother and her 8-year-old son, while officials reported 12 deaths in the city and six in Kyiv. The bombardment stretched from night into daylight, with explosions reported across wide areas of the country. Kyiv residents had been on alert for days after warnings of a major aerial attack, including advisories for foreign diplomats to leave the capital. Despite those warnings, most remained in pl...
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FX CRISIS: TRAVEL ALLOWANCES BY CASH NO LONGER PERMITTED- CBN. (PHOTO)

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 FX Crisis: Travel Allowances By Cash No Longer Permitted — CBN


In a move to solve the foreign exchange crisis in the country, the Central Bank of Nigeria (CBN) says Personal and Basic Travel Allowances will only be paid through electronic channels and not by cash.


The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated February 14, 2024.


The circular titled, ‘Allowable Channels For Payout Of Personal Travel Allowance (PTA) And Business Travel Allowance (BTA)’.


“Memorandum 8 of the Foreign Exchange manual and the circular with reference FMD/DIR/CIR/GEN/08/003 dated February 20, 2017, stipulate the eligibility criteria for accessing Personal and Business Travel allowances (PTA/BTA),” the circular partly read.


“In line with the Bank’s commitment to ensure transparency and stability in the foreign exchange market and avoid foreign exchange malpractices, All Authorised Dealer Banks shall henceforth effect payout of PTA/BTA through electronic channels only. including debit or credit cards.”


The CBN directed all authorised dealers and the general public to note and comply accordingly.

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