AbokiFX reacts to CBN threats and suspends forex updates
The management of Abokifx, a website that collects black market exchange rates in Nigeria, announced that the website would suspend publication of rates after the Central Bank of Nigeria threatened the group.
This was revealed in a statement posted on its website late Friday.
“abokiFx made the decision today, September 17, 2021, to temporarily suspend price updates on all of our platforms, until we get better clarity on the situation,” part of the article reads. the press release.
He said the final tariffs were released on Friday evening and that its news section and Crypto tariffs section will still be active.
It comes hours after the CBN accused Abokifx of carrying out “illegal activity that undermines the economy,” said the platform’s publisher Oniwinde Adedotun, said.
CBN Governor Godwin Emefiele accused Mr. Adedotun of using the platform for âillegal forex tradingâ.
He alleged that Mr Adedotun lived in the UK and published arbitrary rates without contacting the BDCs.
“He is a Nigerian, living in England, we will follow him, Mr. Oniwinde, we will follow you.
âWe cannot allow you to continue killing our economy. Added the governor of the CBN.
In the statement released on Friday, abokiFX’s management refuted CBN’s claims, saying that all allegations against its director were unconfirmed.
“All allegations against our director have yet to be confirmed, but at abokiFX we do NOT trade currencies or manipulate parallel market rates,” the statement said.
âApart from the media allegation, we have not received any communication from any government agency and our accounts are not closed as stated in the media.
“We sincerely hope that this suspension will lead to the appreciation of the Naira from next week.”
Most local news outlets rely on data published on Abokifx for parallel market trading and reporting.
The value of the currency (Naira) fell to N 570.00 for $ 1 on Friday, from less than N 520.00 to a dollar before the ban on sales of foreign exchange to Bureau de Change (BDC) operators on the 27th. July.
However, the currency pulled off a meager gain against the US dollar in the official market on Friday. It closed at N412.88 for $ 1
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