MAN FOUND UNCONSCIOUS AFTER ALLEGEDLY THROWING CHILDREN FROM STOREY BUILDING IN ABA. (PHOTO).

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  DEVELOPING STORY: Man Found Unconscious After Allegedly Throwing Children From Storey Building in Aba A man was reportedly found unconscious but still breathing after allegedly falling from a storey building at New Phase of Umuobe by Barracks, Opobo Road, Obignwa, Abia State. The incident, which occurred on Thursday, has caused panic among residents of the area. Eyewitnesses told Magic FM Aba that the man allegedly threw two of his children from the building before attempting to throw down his wife. However, the circumstances surrounding the incident remain unclear. The two children were reportedly rushed to a hospital for medical attention. As of the time of filing this report, Magic FM Aba could not independently confirm their condition or whether they survived the fall. The man, who sustained an injury to the head, was still lying in front of his house and had yet to receive assistance as of the time of this report. Witnesses said he was unconscious but still breathing. Reside...
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NAIRA DEPRECIATES TO N1, 500/$ AT PARALLEL MARKET. (PHOTO).

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Naira depreciates to N1,500/$ at parallel market

The Nigerian naira, on Wednesday, depreciated to N1,500 at the parallel section of the market.

The rate is a 3.45 percent decrease from the N1,450 per dollar recorded on Monday.

Currency traders in Lagos, also known as Bureau De Change operators (BDCs), quoted the buying rate of the greenback at N1,490 and the selling price at N1,500 — leaving a profit margin of N10.

At the official window, the local currency appreciated by 1.05 percent to N1,418/$ on Wednesday — from N1,433/$ on Tuesday.

According to FMDQ Exchange, a platform that oversees official foreign exchange (FX) trading in Nigeria, the naira traded as high as N1,510 and as low as N896.28 — with a daily turnover of $203.93 million.

Meanwhile, on February 1, 2024, the Central Bank of Nigeria (CBN), continued its foreign exchange market reforms by removing the limit on the FX rate quoted by international money transfer operators (IMTOs).

“For the avoidance of doubt, by this circular, the cap on allowable limit of -2.5% to +2.5% around the previous day’s closing rate of the Nigerian Foreign Exchange Market is hereby removed,” the apex bank said.

CBN instructed the money transfer operators to quote exchange rates based on the prevailing market rates at the FX market.

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