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Naira falls despite CBN’s war on AbokiFX

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

In a bureau de change hub in Wuse Zone 4, Abuja, the dollar was sold for N574 as opposed to the N570 it was sold for on Friday, Punch reported Monday.

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 (CBN), Godwin Emefiele, had accused AbokiFX of manipulating forex.


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Emefiele had said the bank would shut down the operations of AbokiFX which it described as ‘illegal’ and ‘criminal’.

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

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