AbokiFX Owner, Oniwinde an Illegal FX Dealer to Face Prosecution – CBN


Alt: = "screenshot of AbokiFX website"

The Central Bank of Nigeria Governor, Goodwin Emefiele has stated that the owner of AbokiFX, Olumide Oniwinde is an unauthorized Foreign Exchange dealer.

He said this at the recently concluded MPC meeting by the Central Bank of Nigeria (CBN),  responded to rumours on social media about CBN making enquiries on the legality of the operations of abokiFX.

Emiefiele, while responding to questions after the MPC meeting on Friday, September 17, 2021, referred to Mr Olumide Oniwinde, the owner of abokiFX as an illegal FX dealer who will be prosecuted for endangering the Nigerian economy.

CBN had on Thursday written to commercial banks requesting transaction records of the AbokiFX over an alleged breach of the National Intelligence Committee Act of 2004, a move which appeared to be  targeted at  cracking down on AbokiFX, a popular forex publishing platform.

Read also: CBN Cracks Down on AbokiFX for Giving Daily Updates of Naira Free-fall 

AbokiFX is a website that publishes the parallel market exchange rate of the Naira against other currencies of the world on a daily basis. 

According to the governor, Mr Olumide Oniwinde started the abokiFX operation in 2015 and has since milked the economy by taking position, while manipulating the exchange rate. Emefiele promised to ensure that Oniwinde is captured and made to answer to the law.

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