ABOKIFX MANAGEMENT DECISION

AbokiFX has taken the decision today, the 17th of September 2021, to temporarily suspend rate updates on all our platforms, until we get better clarity of the situation.

Final rates have been posted this evening but the abokiFX news section and the Crypt° rates section will still be active.

WHO WE ARE

abokiFX was established in 2014 as a research and information service company, to conduct market research and gather data on the parallel market rates.

We also wanted to provide some transparency around the parallel market with the availability of information technology.

abokiFX purely provides benchmark parallel rate information which helps guide our users in almost 200 countries across the world.
abokiFX does NOT TRADE FX, which we have always maintained in our emails and social media platforms.

We do not Trade FX neither do we have the power to manipulate the rates as we DO NOT CREATE the rates.

We are the only entity in Nigeria that has a full set of parallel rates, right from our inception in 2014 when the exchange rate was trading at N166 to Sl.

We collated data for years before we started publishing, as we realised the demand increased for our historical data.

To most users of our platforms, we are just a parallel rates board but to many institutions, ranging frorn IVY league universities, to global businesses and research centres, we area keysource of data, especially, historical data (almost a decade's worth of data on parallel rates).

Companies use our data for their internal and external audits as well as planning and budgeting.

We ONLY publish what we source on the streets of Lagos, hence the phrase, Lagos Parallel Rates. The rates sourced are carefully collated, reviewed and a mean rate is published from the data pool. This explains our three daily updates - * Morning, ** Midday, ***Evening.
Sometimes, rates come in late but we have to wait for the full set of rates before they are published, to prevent volatility of rates.

None of our data source providers know who we are or what their rates are being used for. This is to avoid any manipulation of rates.
Our staff have a daily routine of going to the market to gather rates, as all the BDCs in the country have their rates clearly displayed on their rates board and parallel market rate dealers give the information away freely.
All we do is collate all that information and display it on all our platforms daily.

REPLAY OF 2017 vs 2021

In 2017, Nigeria experienced an FX crises and the Naira depreciated to over N500/$1. abokiFX was accused of manipulating the parallel market rates.

Once liquidity was injected, the Naira appreciated and we published the appreciation which is basically what we do.
2021 has seen a similar scenario with the naira depreciating and we have published what we have been given, which has led some to believe we are manipulating the market. Yet no one can complain about our rates deviating +/- 2% from the parallel market rates when they patronise the dealers in the rnarket.
If we do not create the rates, how then can we control the rates. Our only sources of income have been our API and advert sales.

ALLEGATIONS AGAINST OUR DIRECTOR

All allegations against our director are yet to be confirrned but we at abokiFX DO NOT trade FX neither do we manipulate parallel rnarket rates.

Outside the media allegation, we have not received any communication from any government body and our accounts are not closed as stipulated in the media.

WAY FORWARD

abokiFX is fully functional BUT we will not be publishing any form of rates on our platforms for now. We sincerely hope this suspension will lead to the Naira appreciation from next week. With our decision to temporarily suspend online rate publication, we are aware that there will be limited visibility of parallel rates information which will impact decision making for rnany.

Emefiele the clown...

Hope with this suspension the naira will appreciate

Shior!

Ati cbn o ati aboki o
Werey ni gbogbo yin

Nice one

Just imagine

Nice dexelopent.

Ok

Normal

Ok shut it down completely abeg ,your speculative projections is creating panic in the business world ,panic buying and keeping dollars is rampant amongst the elites thereby making dollars to be limited and very costly.further killing our naira..if u are not conversant with this thread keep quiet ,so that u don't showcase your flaws here ..there is no way naira will recover the pressure from this firm activities as it relates to our local economy ,some selfish guys might benefits from it and is happy even if we go the way of Zimbabwe. U want government to fix the economy but criticize them whenever they try to do something useful for once.though buhari is still clueless sha

lalasticlala:
ABOKIFX MANAGEMENT DECISION

AbokiFX has taken the decision today, the 17th of September 2021, to temporarily suspend rate updates on all our platforms, until we get better clarity of the situation.

Final rates have been posted this evening but the abokiFX news section and the Crypt° rates section will still be active.

WHO WE ARE

abokiFX was established in 2014 as a research and information service company, to conduct market research and gather data on the parallel market rates.

We also wanted to provide some transparency around the parallel market with the availability of information technology.

abokiFX purely provides benchmark parallel rate information which helps guide our users in almost 200 countries across the world.
abokiFX does NOT TRADE FX, which we have always maintained in our emails and social media platforms.

We do not Trade FX neither do we have the power to manipulate the rates as we DO NOT CREATE the rates.

We are the only entity in Nigeria that has a full set of parallel rates, right from our inception in 2014 when the exchange rate was trading at N166 to Sl.

We collated data for years before we started publishing, as we realised the demand increased for our historical data.

To most users of our platforms, we are just a parallel rates board but to many institutions, ranging frorn IVY league universities, to global businesses and research centres, we area keysource of data, especially, historical data (almost a decade's worth of data on parallel rates).

Companies use our data for their internal and external audits as well as planning and budgeting.

We ONLY publish what we source on the streets of Lagos, hence the phrase, Lagos Parallel Rates. The rates sourced are carefully collated, reviewed and a mean rate is published from the data pool. This explains our three daily updates - * Morning, ** Midday, ***Evening.
Sometimes, rates come in late but we have to wait for the full set of rates before they are published, to prevent volatility of rates.

None of our data source providers know who we are or what their rates are being used for. This is to avoid any manipulation of rates.
Our staff have a daily routine of going to the market to gather rates, as all the BDCs in the country have their rates clearly displayed on their rates board and parallel market rate dealers give the information away freely.
All we do is collate all that information and display it on all our platforms daily.

REPLAY OF 2017 vs 2021

In 2017, Nigeria experienced an FX crises and the Naira depreciated to over N500/$1. abokiFX was accused of manipulating the parallel market rates.

Once liquidity was injected, the Naira appreciated and we published the appreciation which is basically what we do.
2021 has seen a similar scenario with the naira depreciating and we have published what we have been given, which has led some to believe we are manipulating the market. Yet no one can complain about our rates deviating +/- 2% from the parallel market rates when they patronise the dealers in the rnarket.
If we do not create the rates, how then can we control the rates. Our only sources of income have been our API and advert sales.

ALLEGATIONS AGAINST OUR DIRECTOR

All allegations against our director are yet to be confirrned but we at abokiFX DO NOT trade FX neither do we manipulate parallel rnarket rates.

Outside the media allegation, we have not received any communication from any government body and our accounts are not closed as stipulated in the media.

WAY FORWARD

abokiFX is fully functional BUT we will not be publishing any form of rates on our platforms for now. We sincerely hope this suspension will lead to the Naira appreciation from next week. With our decision to temporarily suspend online rate publication, we are aware that there will be limited visibility of parallel rates information which will impact decision making for rnany.

Nice banter

Let's see if the Naira will rise after this FG move

okay, lets see if that changes anything... because the way things dey go, everybody is confused

The AbokiFx has been helpful to me and many others, their rates are always accurate when one intends to transact in the black market.
It seems this government don’t like transparency

Buhari has finally destroyed this con3....................................Now they are chasing shadows and looking for whom to blame for their incompetences ..............................Nigeria is a truly a Mistake to exist

Ok

Kai

Since The CBN don talk say na him dey sabotage Nigeria economy nd na him dey cause why Bandit dey kidnap cos na him dey sell dem dollar to buy arms....



Laik diz Dollar is on the road of $1 equals to #1...


since no be Cryptoo again na AbokiFx..

This country na wa

Hopefully there'll be an improvement soon

CBN governor, what do you have to say concerning this?

From where am sitting, AbokiFX is not the problem. CBN should do their due diligence and take measures that will strengthen the naira.

If they are found to have been manipulating figures and involved in currency speculation they should be dealth with squarely.
The rates were going ballistic and causing spiralling of inflation.
Be that as it may, emefiele and Buhari should also be arrested and prosecuted if same is to be done to the owner of Abokiforex.It's their archaic,military era monetary policy they both started in 2015 that got us to this deep mess.

Scam called ABOKI FX, everything about Nigeria is all about, greed, scam, selfishness and taking advantage to every opportunity to steal or cheat
Awon Ole jati jati

Hmm

Twitter removed your hate speech- banned
Companies offered the chance to make Nigerians invest in foreign stocks / dollars- banned
Bdc- banned
A website publishes rates - banned

Poverty, insecurity, lack of development, no one wants to ban it

Or find ways to make it less obvious

Meaningless things these inept Govt keeps chasing, whilst the masses suffer

Go to the street and ask how much dollar is to the naira and you will get your answer

Forget a website for one sec

Just wake up one day and start chasing shadows from blaming Jonathan to now blaming random individuals kai

Anyway pls I help trnwfer pounds or Euros to naira

Fast transfers immediately check my avatar

lalasticlala:
ABOKIFX MANAGEMENT DECISION

AbokiFX has taken the decision today, the 17th of September 2021, to temporarily suspend rate updates on all our platforms, until we get better clarity of the situation.

Final rates have been posted this evening but the abokiFX news section and the Crypt° rates section will still be active.

WHO WE ARE

abokiFX was established in 2014 as a research and information service company, to conduct market research and gather data on the parallel market rates.

We also wanted to provide some transparency around the parallel market with the availability of information technology.

abokiFX purely provides benchmark parallel rate information which helps guide our users in almost 200 countries across the world.
abokiFX does NOT TRADE FX, which we have always maintained in our emails and social media platforms.

We do not Trade FX neither do we have the power to manipulate the rates as we DO NOT CREATE the rates.

We are the only entity in Nigeria that has a full set of parallel rates, right from our inception in 2014 when the exchange rate was trading at N166 to Sl.

We collated data for years before we started publishing, as we realised the demand increased for our historical data.

To most users of our platforms, we are just a parallel rates board but to many institutions, ranging frorn IVY league universities, to global businesses and research centres, we area keysource of data, especially, historical data (almost a decade's worth of data on parallel rates).

Companies use our data for their internal and external audits as well as planning and budgeting.

We ONLY publish what we source on the streets of Lagos, hence the phrase, Lagos Parallel Rates. The rates sourced are carefully collated, reviewed and a mean rate is published from the data pool. This explains our three daily updates - * Morning, ** Midday, ***Evening.
Sometimes, rates come in late but we have to wait for the full set of rates before they are published, to prevent volatility of rates.

None of our data source providers know who we are or what their rates are being used for. This is to avoid any manipulation of rates.
Our staff have a daily routine of going to the market to gather rates, as all the BDCs in the country have their rates clearly displayed on their rates board and parallel market rate dealers give the information away freely.
All we do is collate all that information and display it on all our platforms daily.

REPLAY OF 2017 vs 2021

In 2017, Nigeria experienced an FX crises and the Naira depreciated to over N500/$1. abokiFX was accused of manipulating the parallel market rates.

Once liquidity was injected, the Naira appreciated and we published the appreciation which is basically what we do.
2021 has seen a similar scenario with the naira depreciating and we have published what we have been given, which has led some to believe we are manipulating the market. Yet no one can complain about our rates deviating +/- 2% from the parallel market rates when they patronise the dealers in the rnarket.
If we do not create the rates, how then can we control the rates. Our only sources of income have been our API and advert sales.

ALLEGATIONS AGAINST OUR DIRECTOR

All allegations against our director are yet to be confirrned but we at abokiFX DO NOT trade FX neither do we manipulate parallel rnarket rates.

Outside the media allegation, we have not received any communication from any government body and our accounts are not closed as stipulated in the media.

WAY FORWARD

abokiFX is fully functional BUT we will not be publishing any form of rates on our platforms for now. We sincerely hope this suspension will lead to the Naira appreciation from next week. With our decision to temporarily suspend online rate publication, we are aware that there will be limited visibility of parallel rates information which will impact decision making for rnany.

usless economic terrosit firm .why not publish daily rate for the parallel markets in UK. Where the firm is located why target vulnerable developing nation with huge structural problems .why add to the misery to make dirty profits. Any body that what to know the rates in Nigeria should ask the central bank of Nigeria. Approved by law to determine it .