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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NAIRA STRENGTHENS BY 7.43% TO N1750 AGAINST DOLLAR AT THE BLACK MARKET. (PHOTO).

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 Naira strengthens by 7.43% to N1750 against dollar at the black market 


The Naira witnessed a notable surge on Thursday, reaching a high of N1750 per dollar in the parallel market, commonly known as the black market.


This surge represents a substantial 7.43% increase, with the currency strengthening by N130.00 compared to the previous day’s closing rate of N1,880.


The surge coincides with Nigeria’s intensified efforts to counter the ongoing depreciation of the Naira.


In response to the currency’s decline, Nigeria has ramped up measures to stabilize its value. These efforts include cracking down on informal foreign currency street traders and targeting a popular cryptocurrency trading platform.


Throughout the week, the naira experienced a significant decline in value, hitting a low of N1,880 to the dollar on Thursday.  


This depreciation has widened the disparity between the unofficial market rate and the official rate of the naira, presenting challenges to the government’s goal of unifying the two rates. 


Despite the Central Bank of Nigeria’s implementation of various policies aimed at boosting the supply of foreign exchange (forex), these developments persist, underscoring the complexities of managing currency stability in the face of economic challenges.

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