DRONES HIT EAST CONGO'S BIGGEST CITY, KILLING FRENCH AID WORKER, REBELS AND UN SAY. (PHOTO).

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 Drones hit east Congo's biggest city, killing French aid worker, rebels and UN say Drone strikes hit Goma in east Congo ​on Wednesday, killing at least three people including a French aid worker, the ‌first such attack in the city since AFC/M23 rebels seized it last year, according to the group and the U.N. The AFC/M23 blamed the attack on the Congolese army, saying in a post on X that Kinshasa ​had launched drones against a densely populated urban area in the lakeside city. A senior official for U.N. children's agency UNICEF told Reuters ​that one of its employees, a French national, was killed. French President Emmanuel Macron and Hadja Lahbib, ​European Commissioner for equality, preparedness and crisis management, condemned the attack in posts on X, calling for respect for international humanitarian law and saying aid workers must never be targeted. A Reuters ​journalist in Goma reported hearing two loud explosions at around 4 a.m. (0200 GMT). The blasts shook windows and ...

NIGERIA'S FOREIGN RESERVES DECREASE TO $24BN RECORD LOW IN 2024- IMF. (PHOTO).


 Nigeria’s foreign reserves decrease to $24bn record low in 2024 – IMF


International Monetary Fund says Nigeria’s foreign reserves dropped to a record low of $24 billion in 2024 from $33 billion last year.


IMF’s latest country report for Nigeria disclosed this, signalling potential challenges for Africa’s largest economy.


It noted that the first half of 2023 witnessed a surplus in the current account, yet there was a notable decline in reserves.


“Through 2024–25, the financial account will likely deteriorate, with no projected issuance of Eurobonds, large Fund and Eurobond repayments of $3.5 billion, and portfolio outflows.


“Hence, despite a current account surplus, officially reported reserves are projected to decline to $24 billion in 2024 before increasing again to $38 billion in 2028 as portfolio inflows resume,” the report stated.


But Central Bank of Nigeria data showed Nigeria’s foreign reserves stood at $33.12 billion as of February 8, 2024.

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