FG To Clamp Down On ‘Aboki FX’ Website Over Exchange Rate

The Federal Government through its bank, the Central Bank of Nigeria (CBN) on Friday said it will shut down the operations of ‘Aboki FX’ over its posting of exchange rates.

‘Aboki FX’ is a website that provides currency exchange information, which the apex bank has described as an illegal platform.

CBN Governor, Godwin Emefiele, stated this after the Monetary policy committee’s two-day meeting in Abuja, revealing plans to arrest and prosecute the owner of the platform, Olusegun Oniwinde.

Emefiele accused Oniwinde of sabotaging Nigeria’s economy, vowing that Nigerian government would collaborate with other security agencies to track him down.

“I have given instructions to our experts to go after his website and let it be clear that we will go after him because we can’t allow this to continue,” he said.

“There was a particular time I asked our colleagues to find the so-called owner of ‘Aboxi FX’ that we want to engage him to understand his module, his basis and how he came about advertising those rates.

“We find him as a Nigerian who lives in England and conducts this nefarious and criminal activity on our economy. It is an economic sabotage and we will pursue him. Where ever he is, we will report him to international security agencies. Mr Oniwinde, we will find you!”

The CBN boss also decried the security challenges in the country, lamenting that Bureau de Change operators were encouraging kidnapping, banditry and terrorism though the sale of FOREX.

He, however, noted that the apex bank will not continue to sell FOREX to people who purchase arms to hurt Nigerians.

According to Emefiele, the financial markets regulator is determined to eliminate the activities of illegal FOREX traders.