Nigerians had expressed outrage September last year after CBN forced Aboki FX to stop publishing exchange rates on its website. At the time, Naira was exchanging at N480 to a dollar. It is now N900
By Ishaya Ibrahim, News Editor
In September last year, the Central Bank of Nigeria governor, Godwin Emefiele, appeared to be sure that the problem of the Naira was due to the publication of parallel market exchange rates on the website of Aboki FX.
Aboki FX is a website that collates the black market exchange rates of the Naira against other currencies. It is owned by Oniwinde Adedotun, a Nigerian living in the UK.
After the allegation that Aboki FX’s publication was damaging the value of the Naira, the publisher, Oniwinde Adedotun, suspended the publication of the parallel exchange market rates on his website.
Last week, before the CBN governor announced the redesigning of N200, N500 and N1000 notes, naira was exchanging at N710 against the dollars. With the announcement of new N200, N500 and N1000 notes coming into circulation, Naira is now N900 to a dollar at the parallel market.
READ ALSO: Naira exchanges N900 to a Dollar at parallel market
Emefiele is now on the spot on Twitter one year after blaming Aboki FX for Naira’s woes.
@Akinrinmade_14 said: “Wait, i thought Aboki FX was the cause of Naira’s free fall. I know a few people on this bird app who supported this baseless and unproven statement from the Presidency, CBN, & especially Mr Godwin Emefiele. How on earth is £1 now trading equivalent to N935 on the black market?”
@thisisOluwakemi said: “Recall when Naira was selling at N480 per dollar at the black market, the CBN governor accused Aboki Fx of being responsible for the high price. It’s over 6 months since Aboki Fx stopped updating the black market rate of FX. Today, $1 is N800.”
@iykimo said: “The CBN policy of redesigning the Naira is a stupid policy like cutting trees to stabilize the Naira and banning Aboki Fx. After printing N3 Trillion yearly for 7 years Meffy wants to fight INFLATION by mopping up notes outside the banking system ?”