Foreign Exchange

Nigeria foreign exchange market is a decentralized or over-the-counter market for the trading of currencies. This includes the value of Nigeria naira to US dollars, Pounds Sterling and other foreign currencies across the World.

abokifx suspends forex update on its website

Naira Falls To N575 Against US Dollar As AbokiFX Suspends Black Market Rate Update

Two days after Abokifx suspended black market rate on its foreign exchange tracking website, Naira has depreciated further.

On Monday, September 20, 2021, $1 was N575 in some parts of Lagos, even as Abokifx removed all the updates on its website, following a threat from the Central Bank of Nigeria (CBN) on Friday, September 17, 2021, to shut down the website. read more

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