Categories: Latest News

Dollar rises to N575 two days after Buhari govt suspended Aboki FX

The 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 the 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 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 was sold for N780 as opposed to 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 bank would shut down the operations of Aboki FX which it described as illegal.

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

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

Attah Aaron

Attah Aaron has spent over six years with Idoma Voice. He writes on religion and health.

Recent Posts

FULL LIST: Burna Boy, Odumodublvck make 2024 BET Hip Hop awards nomination list

Nigerian rapper Tochukwu Gbubemi Ajogwu, known as Odumodublvck, and Afrobeats superstar Burna Boy are proudly…

3 hours ago

Man arrested for tying lover in Abuja hotel

A man has been arrested for tying the hands and legs of his lover in…

5 hours ago

Police hunt pastor over alleged rape of 16-year-old in Ogun

The Ogun State Police Command is searching for a pastor, Onyekachi Okoli, who is accused…

5 hours ago

Ibadan: Court remands 11 men over armed robbery

An Iyaganku Magistrates’ Court in Ibadan has ordered the remand of 11 men in a…

6 hours ago

NAFDAC shuts down Maiduguri drug market over contaminated drugs

The National Agency for Food and Drug Administration and Control (NAFDAC) has closed the Gomboru…

9 hours ago

Jigawa: Police arrest suspected electric cable vandals

The Jigawa State Police Command has apprehended Babangida Abubakar for allegedly vandalizing electric cables in…

10 hours ago