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Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension - Business - Nairaland

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Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by vibre: 5:17pm On Sep 20, 2021
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.

https://punchng.com/dollar-hits-n575-two-days-after-aboki-fx-update-suspension/

6 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by Systrom(m): 5:38pm On Sep 20, 2021
Dollar available at 570. Hit me up

64 Likes 8 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by SocialJustice: 5:51pm On Sep 20, 2021
CBN attacking Abokifx as if they are the cause of Naira's free fall.

285 Likes 10 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by idolda: 7:02pm On Sep 20, 2021
CBN Governor still think abokifx is the problem

149 Likes 8 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by GeneralPula: 7:29pm On Sep 20, 2021
So $100 is now 57500 Naira..

This will only Favour those who earns in dollars as what they are earning will be proportional to what they spending..

But you see salary earners? Dem go dey jonze presently..

233 Likes 12 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by Authoreety: 7:29pm On Sep 20, 2021
OK na... It's still Nigeria...


This country yaf finish.... Imagine a dollar is now almost 600..
Where we go baf put?

20 Likes 1 Share

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by SpecialAdviser(m): 7:29pm On Sep 20, 2021
idolda:
CBN Governor still think abokifx is the problem

Why do you guys keep calling this CBN governor? What nonsense?

Is Buhari not the president? Nobody can perform well under the lifeless man. Tell me one parastatal doing we'll.

217 Likes 14 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by DropsMic(m): 7:29pm On Sep 20, 2021
Lol
Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by PUSSYHOE(m): 7:29pm On Sep 20, 2021
Black race is cursed!

15 Likes

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by temitope27(m): 7:29pm On Sep 20, 2021
Abi na abokifx do dis one again

45 Likes 2 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by scrolldown88: 7:29pm On Sep 20, 2021
Lol
Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by Hotzone(m): 7:29pm On Sep 20, 2021
Damages caused by CBN

CBN and federal government caused this problem. They create these economic pitfalls which is the fallacy of composition, the fallacy of division, and the post hoc, ergo propter hoc fallacy to favour their criminality but if they notice that a common man is tapping from it then u become a scapegoat

30 Likes

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by AngelicBeing: 7:29pm On Sep 20, 2021
Hmmm
Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by KillIgbohoN0W: 7:30pm On Sep 20, 2021
I don't understand.
Is CBN aware of this??

6 Likes

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by Earlystar698(m): 7:30pm On Sep 20, 2021
1000 before 2024 zombiesm is a curse

23 Likes

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by talk2hb1(m): 7:30pm On Sep 20, 2021
Gbeze
Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by jimmyolasun: 7:30pm On Sep 20, 2021
#700 soon

America epp us!! Egbawa ooo!!

Give me benefits money ejoor make I turn am to Naira

65 Likes 3 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by Coldie(m): 7:30pm On Sep 20, 2021
600

1 Like

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by henryutd(m): 7:30pm On Sep 20, 2021
Doomed economy. Attacking someone can't solve the economic crises.
What has ordinary Abokifx to do with the dollar rate? If there is an improvement in the economy, Dollar rate will come down even if Aboki posted higher rate on the websites.
Importation will kill this country one day.

35 Likes 1 Share

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by ednut1(m): 7:30pm On Sep 20, 2021
Emefiele should just resign and flee

41 Likes 1 Share

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by Dunnytt: 7:30pm On Sep 20, 2021
Hahahahahaha, hehehehhheehe, hahahaahahahaha


If you've seen the last line, in the thread AbokiFX made on Twitter... Click like and laugh as well, coz you understood, in relating with this news.

32 Likes 2 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by Ernerstdavid55(m): 7:30pm On Sep 20, 2021
Hehehe even pound self is 780 who is buying pounds pls grin wat a joke

4 Likes 1 Share

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by Idiotmod: 7:31pm On Sep 20, 2021
Mo una have mercy on me

1 Like 2 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by scrolldown88: 7:31pm On Sep 20, 2021
Lol
Let all the naive people supporting the federal government keep deluding themselves. I don't get why certain people insist on taking sides with a government that's hell bent on mortgaging the future of the coming generation.


All the loans been taken must be paid, and with interest keep compounding, Nigeria and Nigerians will be paying for these loans for a long period of time.
Perhaps those supporting the government think it doesn't affect them since they are not paying directly. What they fail to realize is there's going to be continued pressure on Nigeria to offset the loans and service it. This pressure will effectively result in an increase in taxes and cancellation of subsidy on any commodity. In coming years, ordinary citizens will pay more for electricity, more for fuel, more for food, more for water, more more more.

As if that's not enough, The government will not be able to develop any reasonable infrastructure because it's busy servicing loans.

Nigeria is heading to a dark place, and some folks are blinded by the little crumbs they get for supporting the elite.

Same elite who during their youth, lived in a better country. They had free education, food was cheap, you could leave your door open without fear of thieves or kidnappers, you could go on hiking or hunting in the bush without fear of bandits. There were jobs guaranteed after graduating. They lived in a better country. They could hold important political positions at a very young age, and they didn't need to know anybody for that. Today same elite have sabotaged the country and sold out the future of the youth.

Still young people come online to appluade and sing their praise because they belong to the same ethnic, or religious group; or because they get crumbs from the corruption. It's a big shame.
My heart bleeds for Nigeria because the country has long been raped and plundered by wicked men.
It's a horror story

133 Likes 13 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by adioolayi(m): 7:31pm On Sep 20, 2021
Why link AbokiFx

Naira has been on a free fall...it has nothing to do with the banning of AbokiFx

6 Likes 1 Share

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by patriotic007: 7:31pm On Sep 20, 2021
Make una sit down dey look buhari go kill this country kpatapkata

14 Likes 1 Share

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by greenie77: 7:31pm On Sep 20, 2021
Sighs....
Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by teeytimi: 7:31pm On Sep 20, 2021
This emefiele guy is very clueless. How can an online platform influence the unavailable dollar to the extent of what price dollar is sold

32 Likes 1 Share

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by genkins(m): 7:31pm On Sep 20, 2021
We are in foe serious trouble..

Africa has had its fair share of crazy dictators. From the likes of Idi AMIN to the likes of Omar. Bongo.. But there are some of them we haven't heard about or we cannot say how crazy they were.
1.Paul Biya
2.Yahay Jammeh
3.jose Eduardo Dos Santos
5.Thoedoro Obiang Nguema Mbasogo
6.King Mswati of Swaziland

And many more.

This documentary paints a comical picture about thier crazyness.


https://www.youtube.com/watch?v=tXmcOse-8YI
Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by DuduParaPara: 7:31pm On Sep 20, 2021
Okay na.

Finally we can all see that abokifx is, was and can never be the problem.


The heads in CBN are all dumb.

The only people I see who will gain majorly from this are yahoo boys but thankfully EFCC are giving them a run for their money.

Brace up Nigerians, things are gonna get tougher. But the night is darkest just before dawn.

It will soon be over.

9 Likes 2 Shares

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by angelfallz(m): 7:32pm On Sep 20, 2021
It is still early days let us wait and see.

3 Likes

Re: Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension by Nobody: 7:32pm On Sep 20, 2021
grin grin
I projected #600 by the end of the year but I never knew I was totally wrong.
We may be having a BUMPER XMAS GIFT this time around.

15 Likes 1 Share

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