Danjikanbauchi:
The owners of that Abokifx should be arrested and killed.

And if anybody here talk rubbish something should be done to him.

Next topic please.

adonainana:


Avatar means picture or my profile

Why are you so worried about how I can be contacted

Are you the target audience

How e take concern you how I can be contacted

KillIgbohoN0W:
Calm down

Las las, Emefiele, Malami, Lai Mohammed and alladem clueless delegation go beg AbokiFX as dem beg Twitter.

Educationalserv:
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 .

Kingpele:
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

Calitoscassius:
is that what Avatar means? besides, i couldn't get any informations from your so called Avatar.


Sorry to have bothered you! You obviously are incapable of what you have claimed. Scammers every where.

Cheers!

Educationalserv:
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 .

adonainana:


You be serious mumuuuuuu

Ask around who Mr kiksy money trnafer is here on Nairaland

ivolt:

Emefiele has been deceiving many of you.

Where is the law that banned trading in dollars or any foreign currency?
I am waiting.

Calitoscassius:
Yea! Right! Everyone can claim what ever they like on Nairaland. first you didn't wanna dislosed your contact suddenly you are posting some more scamming rubbish and urging me to ask around, some so called Mr kiksy.

Mr kiksy with no address or telephone number

grandstar:
Of course, the free fall of the Naira will continue until the government allows market forces to determine the exchange.

phineas:


Nothing nice about it,it is rude and insulting to the country,and her people

How information around an economy is managed is very important. Money is a key element in a countrys soverignty.

They (aboki) made themselves the official voice (another way to see it is official representative) of a bussiness unit that had been deemed illegal in the country ,basically they are giving authenticity to an illegal activity against the directives of the country and that's their response," global bodies rely on us", "temporary stop to said activity"...and "hope the Naira appreciates" .I repeat the firm and their spokesperson are irresponsible,and their press release is offensive...

Hope you get now why it's not funny

adonainana:


Go school you no go, so you don’t know posting contact details on Nairaland risks being banned hence the reason I didn’t reveal my contact details

All you small boys self smh

grandstar:


Information and statistics are a fundamental part and parcel of economics. The governments prickiness isn't about statistics (AbokiFX did not just surface) but statistics that paint it in bad light. It's obviously the government is stung by these stats.

Trust me, if the exchange rate was stable, the government had no beef with what abokifx published. Now, that the Naira is experiencing a free fall, abokifx is the boogeyman that takes the fall

Government must allow market forces to determine the exchange rate and this mess will be tidied up overnight.

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.

FROGMAN101:


Nice banter

Educationalserv:
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 .

Blue3k:


Why would that happen if the naira is currently over valued?

Kingpele:
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

FreeIgboho:


Ignorant comment. First of all the firm is neither located nor registered in the UK. Secondly, various platforms publish rates or have tried publishing rates only that AbokiFx have been most successful because of their accuracy (see below). Thirdly where do you think the crypto rates you read are gotten from? Fourthly Abokifx has been in existence for 7 years most of which time Naira was stable

phineas:


Where in the world do you see a parallel market dictating a country's exchange rate? Some countries might see it and treat it as espionage or acts against the State.

Why is it okay in Nigeria when the CBN says it isn't? It's foreign currency thats been sold like second hand clothes on the street and the aboki man determining the value of a country's currency based on What?

Kingpele:
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

FreeStuffsNG:

You need to do more research about the company. You're too intelligent for these assumptions and we were not born yesterday or 2014 sir.

Kingpele:
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

phineas:

the aboki man determining the value of a country's currency based on What?