CBN Investigates Foreign Exchange Website, AbokiFX For “Illegal Forex Transactions”.

On Thursday night, September 16, 2021, several media sources claimed that the Central Bank of Nigeria was investigating foreign exchange market web platform, AbokiFX for “illegal foreign exchange transactions.”

According to reports AbokiFX limited and its founder Oniwinde Adedotun were been investigated by the apex bank for been involved in illegal Forex trading and foreign exchange rate manipulation.

This comes after AbokiFX on Thursday reported that the Naira was trading at 570 to the dollar at the parallel market. However sources also suggested that the operator of the platform has been involved in suspicious trading after “unusual forex transactions” were found in his account.

The Central Bank is also said to be investigating seven accounts belonging to Adedotun and AbokiFX, vetting every forex transactions from 2019 till date.

AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014.