JUST IN: Oniwinde In Trouble As CBN Set To Shut Down Aboki FX Website

JUST IN: Oniwinde In Trouble As CBN Set To Shut Down Aboki FX Website—-Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele says the apex bank will shut down operations of Aboki FX, a provider of currency exchange information.

Mr Emefiele said on Friday that the platform owned by Olusegun Oniwinde is “illegal” and “criminal”.

“I have given instructions to our experts to go after his website and let it be clear that we will go after him, because we can’t allow this to continue,” he said after a two-day monetary policy committee meeting in Abuja.

Emefiele said the CBN doesn’t recognise any forex market window besides the Investors and Exporters window.

Meanwhile, the MPC retained the monetary policy rate at 11.5 per cent. It also retained the cash reserve ratio and liquidity ratio at 27.5 per cent and 30 per cent respectively.

JUST IN: Oniwinde In Trouble As CBN Set To Shut Down Aboki FX Website

“The MPC made the decision to hold all parameters constant. The committee thought by unanimous vote to retain the Monetary Policy Rate at 11.5 per cent.

“In summary, MPC voted as follows, one, retain MPR at 11.5 per cent; retain the asymmetric corridor of +100/-700 basis points around the MPR; retain the CRR at 27.5 per cent; and retain the Liquidity Ratio at 30 per cent,” Emefiele said.

He added that MPC members felt that tightening would contract the current level of system liquidity and thus reduce demand pressure on the forex market.

Leave a Reply