Dollar soars to N575 two days after suspension of Aboki FX update

Factual Pursuit of Truth for Progress


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

According to reports, the dollar was sold for N574 as opposed to the N570 it was sold for on Friday.

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

The pound sold for N780 as aginst N770 last Friday.

The 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 apex bank would shut down the operations of Aboki FX, which it described as illegal.


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