• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
Nigeria’s Apex Bank Launches Manhunt For Founder Of Digital Forex Tracker

Nigeria’s Apex Bank Launches Manhunt For Founder Of Digital Forex Tracker

4 years ago
Nigeria, France Strengthen Strategic Partnership On Trade, Security

Nigeria, France Strengthen Strategic Partnership On Trade, Security

4 hours ago
Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

Mali: Junta Leader Signs Law Allowing Him To Remain In Power Without Election

4 hours ago
Nigeria: NDDC @25 Delivers Cultural Splendour, Preaches Unity Of Niger Delta States

Nigeria: NDDC @25 Delivers Cultural Splendour, Preaches Unity Of Niger Delta States

7 hours ago
Keir Starmer, Emmanuel Macron Agree On Migrants Return Deal

Keir Starmer, Emmanuel Macron Agree On Migrants Return Deal

7 hours ago
ByteDance To Launch New TikTok App As US Ban Looms

ByteDance To Launch New TikTok App As US Ban Looms

8 hours ago
Friday, July 11, 2025
  • About
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Mali: Junta Leader Signs Law Allowing Him To Remain In Power Without Election

    Tunisia: 84-Year-Old Opposition Leader Slammed 14 Years Jail Term

    Tunisia: 84-Year-Old Opposition Leader Slammed 14 Years Jail Term

    Trump Threatens BRICS Nations With 10% Tariff Over “Anti-American Policies”

    Trump Threatens BRICS Nations With 10% Tariff Over “Anti-American Policies”

    Gabon’s Coup Leader and President Nguema Launches New Political Party

    Gabon’s Coup Leader And President Nguema Launches New Political Party

    Trump Demands Probe Of Subsidies Offered To Musk’s Firms

    After Fallout With Trump, Elon Musk Considers Floating Political Party

    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

  • Economy
    Lesotho Declares State of Disaster Over Uncertainty Around US Tariffs

    Lesotho Declares State Of Disaster Over Uncertainty Around US Tariffs

    Goldman Sachs Appoints Former UK PM Rishi Sunak As Senior Adviser

    Goldman Sachs Appoints Former UK PM Rishi Sunak As Senior Adviser

    Social Media Posts To Determine Eligibility Of Immigrants To Get Visas — US

    US Embassy Mandates Nigerian Visa Applicants To Remove Privacy Settings On Social Media

    Ghana: Parliament Passes Provisional Budget To Avert Government Shutdown

    IMF Commends Ghana’s Economic Reforms, Debt Restructuring

    Namibia Suspends State Funerals Following Criticism Over High Costs

    Namibia Suspends State Funerals Following Criticism Over High Costs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Promises To Clear Undeclared Debt Incurred By Past Administration

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Mali: Junta Leader Signs Law Allowing Him To Remain In Power Without Election

    Tunisia: 84-Year-Old Opposition Leader Slammed 14 Years Jail Term

    Tunisia: 84-Year-Old Opposition Leader Slammed 14 Years Jail Term

    Trump Threatens BRICS Nations With 10% Tariff Over “Anti-American Policies”

    Trump Threatens BRICS Nations With 10% Tariff Over “Anti-American Policies”

    Gabon’s Coup Leader and President Nguema Launches New Political Party

    Gabon’s Coup Leader And President Nguema Launches New Political Party

    Trump Demands Probe Of Subsidies Offered To Musk’s Firms

    After Fallout With Trump, Elon Musk Considers Floating Political Party

    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

  • Economy
    Lesotho Declares State of Disaster Over Uncertainty Around US Tariffs

    Lesotho Declares State Of Disaster Over Uncertainty Around US Tariffs

    Goldman Sachs Appoints Former UK PM Rishi Sunak As Senior Adviser

    Goldman Sachs Appoints Former UK PM Rishi Sunak As Senior Adviser

    Social Media Posts To Determine Eligibility Of Immigrants To Get Visas — US

    US Embassy Mandates Nigerian Visa Applicants To Remove Privacy Settings On Social Media

    Ghana: Parliament Passes Provisional Budget To Avert Government Shutdown

    IMF Commends Ghana’s Economic Reforms, Debt Restructuring

    Namibia Suspends State Funerals Following Criticism Over High Costs

    Namibia Suspends State Funerals Following Criticism Over High Costs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Promises To Clear Undeclared Debt Incurred By Past Administration

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

Nigeria’s Apex Bank Launches Manhunt For Founder Of Digital Forex Tracker

September 17, 2021
in Economy, Top Stories
0
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

By John Ikani

Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele says the apex bank is on a mission to capture and prosecute Olumide Oniwinde, owner of Digital Forex Tracker – abokiFX for endangering the Nigerian economy.

Relatedreading

Nigeria, France Strengthen Strategic Partnership On Trade, Security

Mali: Junta Leader Signs Law Allowing Him To Remain In Power Without Election

Oniwinde faces a two-year jail term monetary fine following allegations that his digital media breached the National Intelligence Committee Act of 2004.

AbokiFX is a website that publishes the parallel market exchange rate of the Naira against other currencies of the world on a daily basis.

According to the Governor, Oniwinde started the abokiFX operation in 2015 and has since milked the economy by taking position, while manipulating the exchange rate. Emefiele promised to ensure that Oniwinde is captured and made to answer to the law.

“The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it,” Emefiele said.

“I am sorry to say that I do not, and I do not intend to recognize any fx in the market.

“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it.

“If you want to sell the dollar, go to your bank and sell it,” he added.

What the law says and how abokiFX breached it

The law covering the foreign exchange report states that any individual or organisation reporting exchange rates besides that of the bank has committed an offense.

Heritage Times gathered that from section 11 of the National Intelligence Committee Act of 2004, that any person, association of individuals or public and private corporate body publishing or published exchange and interest rates other than that of bank’s wil pay the following; In the case of an individual, the fine of N100,000 will be metted out, as well as two years imprisonment, separately, or made to face both punishment.

While a company will be fined N500,000, and its certificate of registration or certificate of incorporation will be revoked.

Alleged manipulation of forex, illegal FX transactions

Asides abokiFX breaching of the foreign exchange rate report law, Oniwinde has also been accused of manipulating the black market forex rates which has been rising in recent times.

Since the CBN barred the Bureau De Change operators from receiving forex from commercial banks to support their operation, abokiFX has reported that naira value has increasingly weakened compared to foreign currencies.

Currently, abokiFX reported that $1 to a naira is N570, United Kingdom’s one pound exchange for N770, while one euro trades for N655 in the parallel market. Also, the CBN has requested details of seven accounts belonging to Oniwinde and abokiFX, for investigation into transactions involving them.

Tags: Aboki FXCentral Bank of Nigeria (CBN)Godwin EmefieleOlumide Oniwinde
ShareTweetSend
Previous Post

World Bank Discontinues Its ‘Doing Business’ Report As Irregularities Compromise Integrity

Next Post

ECOWAS Imposes Travel Ban On Guinea Coup Leaders, Freezes Assets

Related Posts

Nigeria, France Strengthen Strategic Partnership On Trade, Security

Nigeria, France Strengthen Strategic Partnership On Trade, Security

July 10, 2025
Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

Mali: Junta Leader Signs Law Allowing Him To Remain In Power Without Election

July 10, 2025

Nigeria: NDDC @25 Delivers Cultural Splendour, Preaches Unity Of Niger Delta States

Keir Starmer, Emmanuel Macron Agree On Migrants Return Deal

ByteDance To Launch New TikTok App As US Ban Looms

Trump Wants African Leaders To Accept Deported Migrants

Next Post
ECOWAS Imposes Travel Ban On Guinea Coup Leaders, Freezes Assets

ECOWAS Imposes Travel Ban On Guinea Coup Leaders, Freezes Assets

Please login to join discussion
AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2

Updates

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Nigeria, France Strengthen Strategic Partnership On Trade, Security

Nigeria, France Strengthen Strategic Partnership On Trade, Security

July 10, 2025
Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

Mali: Junta Leader Signs Law Allowing Him To Remain In Power Without Election

July 10, 2025
Nigeria: NDDC @25 Delivers Cultural Splendour, Preaches Unity Of Niger Delta States

Nigeria: NDDC @25 Delivers Cultural Splendour, Preaches Unity Of Niger Delta States

July 10, 2025
Keir Starmer, Emmanuel Macron Agree On Migrants Return Deal

Keir Starmer, Emmanuel Macron Agree On Migrants Return Deal

July 10, 2025
JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia
ADVERTISEMENT

Most Recent

Nigeria, France Strengthen Strategic Partnership On Trade, Security

July 10, 2025

Mali: Junta Leader Signs Law Allowing Him To Remain In Power Without Election

July 10, 2025

Nigeria: NDDC @25 Delivers Cultural Splendour, Preaches Unity Of Niger Delta States

July 10, 2025

Keir Starmer, Emmanuel Macron Agree On Migrants Return Deal

July 10, 2025

ByteDance To Launch New TikTok App As US Ban Looms

July 10, 2025

Trump Wants African Leaders To Accept Deported Migrants

July 10, 2025

PSG Thump Real Madrid, To Battle Chelsea In Club World Cup Final

July 10, 2025

Brown: Nigerian Emerges Top US Basketball Club Coach

July 10, 2025

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

From Hope To Fear: Kenya Joins East Africa’s Crackdown On Free Expression

AfDB Set For A New President, As Ould Tah Gains Continental Endorsement

How Dangote Is Turning Trump’s Trade War Into Africa’s Opportunity

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • Privacy Policy

© 2024 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • About HT
  • Contact us

© 2024 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In