Dollar hits N575 two days after Aboki FX update suspension




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dollar rose to between N572 and N575 in different parts of the country on Monday barely two days after online platform, Aboki FX, stopped providing updates on the exchange rate.

Our correspondent, who visited ever-busy Wuse Zone 4 which is the hub of bureau de change operators in Abuja, observed that the dollar was sold for N574 as opposed to the N570 was sold for on Friday.

In Lagos, dollar was sold at N572 while in Kano was N575 as of 3pm on Monday.

pound was sold for N780 as opposed to N770 last Friday.


Governor of the Central Bank of Nigeria, Godwin Emefiele, had accused the online foreign exchange update platform, Aboxi FX, of manipulating the forex market.

Emefiele, had said the bank would shut down the operations of Aboki FX which described as illegal.

Subsequently, Aboki FX said in a statement on Friday that would no longer publish exchange rates for now and hoped that the naira would stabilise.

further stated that it usually gets its information from bureau de change operators in Lagos.

Source