AbokiFX has temporarily suspended rate updates on all their platforms.
This followed allegation of illegal foreign exchange transactions by the Central Bank of Nigeria Governor, Godwin Emefiele thereby declaring its owner, Oniwinde Adedotun wanted.
According to Emefiele, Oniwinde is using the platform to manipulate the Nigerian forex market with the platform.
READ Here: CBN Threatens To Shut Down ‘Aboki FX’ Over Exchange Rate
But in a notice shared on AbokiFX website on Friday September 17, the web platform that reports movements in the foreign exchange market said it will “temporarily suspend rate updates on all their platforms until they get better clarity of the situation”.
AbokiFX which reiterated that the platform is solely for parallel rate information and not trading as they have “always maintained in their emails and social media platforms”, added that they hope that suspension of their rate updates will lead to Naira appreciation from next week.
“All allegations against our director are yet to be confirmed but we at abokiFX DO NOT trade FX neither do we manipulate parallel market rates.
“Outside the media allegation, we have not received any communication from any government body and our accounts are not closed as stipulated in the media.
“abokiFX is fully functional BUT we will not be publishing any form of rates on our platforms for now.
“We sincerely hope this suspension will lead to the Naira appreciation from next week.
“With our decision to temporarily suspend online rate publication, we are aware that there will be limited visibility of parallel rates information which will impact decision making for many.”
