CBN to arrest founder of AbokiFX

The Central Bank of Nigeria (CBN) has vowed to arrest the founder of AbokiFX, an online platform that collates daily exchange rates.

The CBN governor, Godwin Emiefiele, in a statement on Friday, advised Nigerians to ignore the black-market exchange rate for the Naira to other foreign currencies, branding it, a window for unscrupulous individuals to milk the economy.

According to Emiefiele, Nigerians with legitimate dollar needs should use their banks not the black market as there is enough forex to meet the demands.

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Emiefiele particularly fingered Olusegun Adedotun Oniwinde, the owner of Abokifx, saying their operations was illegal as he is an illegal trader who uses his website to manipulate the market.

He also revealed plans by the CBN to arrest Oniwinde who currently resides in the United Kingdom, to answer for the damage he has done to the Nigerian economy.

“I have requested for the website to be shut and the owner arrested, we can not allow this to continue,” he said

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

The company was registered in the UK in 2015 as a sole owner but there are also other significant owners, which include Boaz Associates Limited, Esther’s Limited, ES Merchant Limited and AbokiFX, a company he founded six years ago.

“Oniwinde is using the information on Abokifx to milk the economy, while manipulating the exchange rate. Oniwinde will be arrested and made to answer to the law,” CBN governor added.