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Abokifx Ban – Twitter Users React to Ban Placed by CBN

Nigerians have taken to twitter to vent on the ban Placed in Abokifx by the Central Bank of Nigeria  (CBN).

The Central Bank of Nigeria accused Abokifx of being the sole reason the naira has been in a continuous decline against the dollar at the parallel market.

What is Abokifx?

Abokifx is a web-based platform responsible for updating individuals with reports about movements in the foreign exchange market.

Abokifx Ban by the Central Bank of Nigeria

Previously, the Apex bank placed a ban on the sale of forex by Bureaux De Change operators preventing them from buying and selling the dollar.

This ban led to the lowest rate the naira has experienced in the last 48 years, trading for $1 to 550 naira.

However, the Governor of the Central Bank of Nigeria, Godwin Emefiele, came out to state that Oniwinde Adedotun who is the founder of Abokifx is under investigation for allegedly engaging in forex data manipulations.


Prior to this announcement, reports indicated that Oniwinde Adedotun and his company, Abokifx Limited, were under CBN’s scrutiny for their involment in illegal foreign exchange transactions.

With the emergence of the report stated above, the platform, AbokiFX distanced itself from the allegations, stating that the platform is solely for parallel rate information and not trading.

The management of the platform also shut down the parallel market trading segment to drive their point further.

Twitter Hot Takes on Abokifx Ban by CBN

With the battle ongoing between Abokifx and the Central Bank of Nigeria, Twitter users ensured that they drop their own two cents on the issue.

Some users stated that the CBN’s move would not solve the forex crisis in the country or reverse the slide of the naira. 

And on the other hand, some Nigerians have also ceased this opportunity to taunt the CBN governor by creating a parallel market information website called MeffyFX.


Find some of these think pieces from Twitter users on the ban below

“Anything Nigerian Govt ban, pay close attention! It’s mostly likely amplifying their failure and in order to keep their ego, they will place a ban!
Ban Crypto
Ban Twitter
Ban AbokiFX

With all the ban, USD is raising to 600 Naira under their nose.”
Tosin Olugbenga (@TosinOlugbenga) 

“Now that #AbokiFX has shutdown its website, let’s watch N1 become $1 overnight since the turds at CBN believe their village people allegedly recruited by a website are behind Naira’s woes. 🚶🏾‍♂️”
SEGA L’éveilleur®🎶🚨 (@segalink)

“When abokiFX was busy updating rates in 2014, it was all fun and APC used it as major campaign. They said Nigerians are not okay with $1/N166 and promised to make it $1/N1. Now that a dollar is N560 instead of solving the actual problem, they are running after imaginary enemy.”
 Premier (@SodiqTade)

“I don’t need AbokiFX to tell me the rate. Sule at Presidential Hotel Port Harcourt knows the rate. Emefiele’s knows the parallel market rate, every Aboki along Ikeja & Sheraton Abuja knows this. AbokiFX was never the fixer, I’m sure Meffy is aware of this.”
NEFERTITI (@firstladyship)

“I love that AbokiFX’s media release. They took a subtle jab on Meffy and his ogas. “We sincerely hope that this suspension will lead to the Naira appreciation from next week”. 🤣

Cos apparently, it’s just trial and error that Meffy is doing.”
Adewale Adetona (@iSlimfit)