Nigerians React as Emefiele threatens AbokiFX founder


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The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on Friday declared the founder of AbokiFX, Oniwinde Adedotun wanted over alleged illegal foreign exchange dealing and exchange rate manipulation.

Emefiele spoke shortly after the 280th Monetary Policy Meeting (MPC) of the apex bank in Abuja.

Aboki FX is a website that publishes the parallel market exchange rate of the naira against other currencies, especially the dollar.

“Mr Oniwinde started the AbokiFX operation in 2015 and has since milked the economy by manipulating the exchange rate.

“Oniwinde lives in London while concocting criminal activities on our economy. Our preliminary findings show that the company continues to file the same cash account in the United Kingdom whereas he maintained about 25 accounts with eight banks in Nigeria, milking the system and collecting cash through Automatic Teller Machines in London.

“He then sells tens of millions in FX to companies in Nigeria. We will go after them all,” Emefiele said.

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Emefiele said that AbokiFX’s operations was at variance with Section 2 of the CBN Act 2007 which empowers the apex bank as the only authority to determine the value of the naira.

According to him, Oniwinde will be captured and made to face the wrath of the law.

The CBN boss dared Oniwinde and his host of supporters to come to his office in Abuja to fight him.

Meanwhile, Emefiele’s declaration has been met with severe criticism on social media, as many Nigerians accused the apex bank boss of chasing shadows.

Olu Tola wrote, “From top to bottom of this ineffective and docile administration, excuses are made for their inefficiency.

“The website only provides information about the current exchange rates of Naira to other currencies, how does that influence the market?

“Do the right thing and stop looking for where to put blame.”

Leo Peace wrote, “Oga make policies that will stabilize forex not instruction to bring down a private website who report your failures. Success is the greatest revenge.”

HC Akujobi wrote, “Is shutting down a source of information, a macroeconomic policy to help Naira appreciate? I’m confused.”

Oguntuase Femi Adeniyi wrote, “This man is only chasing a shadow.! Is AbokiFX the problem of our exchange rate?

“The authority of the Apex Bank, as presently constituted lacks what it takes to stabilize the Naira.

“This economy is nose diving daily and nobody seems to be doing anything to revive it.”

Jo Uchenna wrote, “This man is a failure.”

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