Dollar Hits N575 Two Days After Aboki FX Update Suspension

1 month ago

The dollar rose to between N572 and N575 in different parts of the country on Monday barely two days after online platform, Aboki FX, stopped providing updates on the exchange rate.


https://i0.wp.com/storage.waploaded.com/images/7b8abf2339cac74353138ae4ae85c30e.jpeg

Our correspondent, who visited the ever-busy Wuse Zone 4 which is the hub of bureau de change operators in Abuja, observed that the dollar was sold for N574 as opposed to the N570 it was sold for on Friday.

In Lagos, the dollar was sold at N572 while in Kano it was N575 as of 3pm on Monday.

The pound was sold for N780 as opposed to N770 last Friday.

The Governor of the Central Bank of Nigeria, Godwin Emefiele, had accused the online foreign exchange update platform, Aboxi FX, of manipulating the forex market.

Emefiele, had said the bank would shut down the operations of Aboki FX which it described as illegal.

Subsequently, Aboki FX said in a statement on Friday that it would no longer publish exchange rates for now and hoped that the naira would stabilise.

It further stated that it usually gets its information from bureau de change operators in Lagos.

Related Forums
Chiwetalu Spotted Exchanging Greetings With Nigerian Soldiers In Enugu Days After He Was Arrested and Released (Photo)
Forum

Chiwetalu Spotted Exchanging Greetings With Nigerian Soldiers In Enugu Days After He Was Arrested and Released (Photo)

17 hours ago
UPDATE! Photos Of Some Muslim Worshippers Killed In Niger State Mosque Attack
Forum

UPDATE! Photos Of Some Muslim Worshippers Killed In Niger State Mosque Attack

23 hours ago
Appeal Court Strikes Out Suit Challenging Secondus’ Suspension From PDP
Forum

Appeal Court Strikes Out Suit Challenging Secondus’ Suspension From PDP

23 hours ago
Ed Sheeran Tests Positive For Coronavirus Days Before Album Release
Forum

Ed Sheeran Tests Positive For Coronavirus Days Before Album Release

2 days ago