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Nairaland Forum / Nairaland / General / Business / CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder (31070 Views)
AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) / CBN Shuts Down AbokiFX Bank Accounts / CBN Confirms N410.25/$ As New Official Exchange Rate (2) (3) (4)
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Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by PlanktonX: 7:10pm On Sep 17, 2021 |
musicwriter: It is like, it is the foreign countries that arrest criminals for us, all we know here is witch hunting legitimate business. When clueless govt policies fails, they start looking for private businesses to blame. All govt officials in their thousands are all driving foreign exotic cars, their children attending foreign school, with foreign medical treatments and they are still the same people who cry that dollars are not available... So how can dollar ever be available for the real sectors to produce goods and services. AbokiFx is now their problem, is it not a parallel market? He can only sell the way he buys. I just don't know how the real sectors are surviving in this administration. Before you get dollars to pay for raw materials and machineries, the average prices would have change. Tell me, how can they plan? Am not surprise, when the required qualification to contest for political office in Nigeria is just pry school cert. 2 Likes |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by Nobody: 7:11pm On Sep 17, 2021 |
Newboss:I know. But we all know that dollar is the most acceptable denomination for business all over the world. The people buying and selling the US dollars in Nigeria is far more than the people who wants to buy the Australian dollars, Canadian dollars etc |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by Newboss(m): 7:20pm On Sep 17, 2021 |
iconnecta: The profit margin used by BDC is 10 Naira. CBN does not have real exchange rate. What CBN has is a joke. Imagine exchange rates remaining fixed for months even when there is increasing difficulty in accessing foreign exchange. BDC source for currencies by themselves. Hence, they decide the selling and buying price based on market conditions. Actually, CBN operates an artificial market that doesn't reflect market conditions. BDC operates a market driven by demand and supply. We have also seen exchange rates go down in BDC market. Abokifx collects data from the street, processes and publishes it. Abokifx is a foreign exchange market research platform. It's simple data analysis. You can even set up your own platform and be doing your own market research. 2 Likes |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by PlanktonX: 7:23pm On Sep 17, 2021 |
kowopealajo: You don't call him greedy...he buys from people and sell to people. It is a free market, where price is determined by the forces of demand and supply, couple with scarcity, the price might hit N1,000 to $1 by December. Bulk of our dollar reserves are being depleted by this govt people shouting up and down. Billions in dollars are spent yearly on things we shouldn't bother about like foreign education, medical treatment and ostentatious goods. We are a greedy consumer of rubbish and nonsense goods here. Your national assembly rejected innoson cars but prefer Toyota Camry. That is waste of our money and dollars in exchange. Nobody will force AbokiFx to sell dollar for N100 if the govt is educative enough to generate dollars for the country with the right home grown policies with strong monitoring team. 1 Like |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by Newboss(m): 7:26pm On Sep 17, 2021 |
DubaiLandLord1: The problem is not that the USD is becoming stronger. The problem is that Naira is weakening. This implies that the value of Naira is crashing against all major currencies. AED that used to be about 100 Naira is now over 130 Naira. It's Naira that is losing value in the foreign exchange market. If CBN floated the Naira, by now Naira will be over 600 on the I&E market |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by adonainana: 7:34pm On Sep 17, 2021 |
stepaside2: You be mumuuuu serious one |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by Gfskw: 7:45pm On Sep 17, 2021 |
Hmmm |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by emman44(m): 7:49pm On Sep 17, 2021 |
Validated: |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by carbonado(m): 7:52pm On Sep 17, 2021 |
Buckeyemedia1:... Spot on, a lot of companies that would have loved to set up in Nigeria, would rather not, based on challenges from power, to security, sudden change of policies to name a few would rather go to other countries... Like Ghana, some that come, usually leave after awhile, capital flight. Example of few companies that moved from Nigeria to Ghana is Dunlop, our own Ovation had to leave too, for Ghana. If you wonder why our currency is is falling rapidly, it is as a result of all of these factors(lack of power for production, bad roads or transportation , as it is difficult to move raw materials to processing sites, also if it gets to site by a miracle and non of the workers of the companies have been kidnapped(security challenge) on the road, then you have too process the raw materials which brings us back to power. Absence of power means higher cost of production as you have to buy diesel. Before i forget, for you to get your license to do business in Nigeria, some brown envelopes would have to change hands. These to name a few challenges makes no one wants the Naira, opposite is case for the dollars. Abokifx is nit the problem, exchange rates are published all over the internet or news all the time. It is just sad that at this rate we might get to N800 - $1 before 2023,as everything been done is cosmetic. |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by netmillionaires(m): 8:03pm On Sep 17, 2021 |
What annoys me most is that when it is time for one to buy fx, banks will sell to you at a black market rate. But when you want to sell dollars to bank, that's when they remember the official exchange rate why are abokis still selling on the street when it is illegal to use black market rate. Why are they not arresting the mallams? legba1: 2 Likes 1 Share |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by hedonido: 8:49pm On Sep 17, 2021 |
Tedpgrass: That's the thing. These dinosaurs we have managing our affairs don't have the capacity to keep abreast of current realities of the digital age. The abokifx thing is an Internet business which can easily be run from any part of the world. Anyone else can open another website with any random name and provide the same service. As long as there's a need for that service there will be someone to meet that need...be it abokifx or afonjafx reloaded. |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by Miyachi: 10:57pm On Sep 17, 2021 |
iconnecta:The truth is that the price pegging that CBN does requires it to supply all available demand at that price. As we are almost generating zero revenue in usd asides oil and importing everything we need, it is a herculean task. About the parallel market, I could remember circa 2005 when I saw my folks to the MMIA and we bought dollar at around 150 or so. The official exchange rate was around 130. So the difference has always been there . |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by edupedia: 3:46am On Sep 18, 2021 |
JohnSin97: Did u go to school at all? |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by edupedia: 4:17am On Sep 18, 2021 |
onatisi: Will your school teachers be proud of you? |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by edupedia: 4:29am On Sep 18, 2021 |
PlanktonX: BLAMETHEGOVT FOOTBALL CLUB |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by mujaya1(m): 7:52am On Sep 18, 2021 |
if to said this emifele is musa by name those Biafra and ipob will not sleep until they trends with their fake news and toxic news |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by AlphaCEO: 12:42am On Sep 19, 2021 |
JohnSin97: |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by kaibladenet: 6:16pm On Sep 19, 2021 |
This is just a desperate act from an incompetent CBN governor that knows his chances of being sacked are getting higher with each failed attempt to strengthen the Naira. |
Re: CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder by steveyen(m): 3:10am On Sep 26, 2021 |
Please don't mind the guy that calls himself crazygrandad. I am sure the name is apt because I sense some form of craziness in his post. Thesame UK he is referring to is the HQ of currency speculation esp London. Miyachi: |
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