CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) has confirmed the investigation of Oniwinde Adedotun, the founder of abokiFX.

On Thursday, TheCable reported that Adedotun and abokiFX Limited are currently under investigation for “illegal foreign exchange transactions”.

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

On the platform, Naira is quoted at 570 to the dollar at the parallel market, though the apex bank had described it as an illegitimate market.

“The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it,” Emefiele said.

“I am sorry to say that I do not, and I do not intend to recognise any fx in the market.

“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it.

“If you want to sell the dollar, go to your bank and sell it. “