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Nairaland Forum / Nairaland / General / Business / AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) (41881 Views)
One Month After AbokiFX Shutdown, Naira Fails To Rise / CBN Confirms Investigation Of Oniwinde Adedotun, Abokifx Founder / CBN Shuts Down AbokiFX Bank Accounts (2) (3) (4)
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Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by GeorgeTheCoder: 11:01pm On Sep 17, 2021 |
bmaks: I see your point but EVERY market has speculators and if indeed they exist in Nigeria we are no different. The test of whether AbokiFx is the cause of the nairas collapse will be seen in a few weeks. They have ceased operations, I wait to see who Meffy will blame if the slide continues. 2 Likes |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by GeorgeTheCoder: 11:08pm On Sep 17, 2021 |
rajiedreez: The market consists of buyers and sellers and both seek accurate information. If AbokiFx was manipulating figures in favour of sellers for instance, buyers would seek better information on rates elsewhere. The opposite is also true. Nobody with his money at stake would depend on one source of information. The theory that one player can manipulate the market for any length of time collapses under weight of its own contradictions. 1 Like |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by Exodora: 11:14pm On Sep 17, 2021 |
gurunlocker:Yesterday I exchanged at the rate of 550 |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by zigzagluv: 11:33pm On Sep 17, 2021 |
The bank are the most corrupt set of people , The sold fake euros to a poplar actress DubaiLandLord1: |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by abbey621(m): 11:38pm On Sep 17, 2021 |
By 2023, it will be 700 Naira to 1 dollar. Abokifx is not the problem, the problem is simple, what exactly is backing the Naira? A dead economy, national debt, high unemployment and terrorists everywhere. For goodness sake, we IMPORT EVERYTHING & PRODUCE ZILCH! As usual every facet of this government is clueless, wicked and plain foolish! Even if you remove abokifx, does it change the fact that demand for foriegn import far outweighs the supply? Does it automatically give the banks the ability to sell enough dollars to satisfy the demands? Mumu people! 1 Like |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by duality(m): 11:47pm On Sep 17, 2021 |
Ade3131: How does he get those figures he posts online. This has formed the basis of forex trading. So if Aboki fx says it's 600nsira, everyone will sell at that price. |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by Nobody: 11:52pm On Sep 17, 2021 |
justmondris:You are 100% right walaihi |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by Kano4tot2: 11:57pm On Sep 17, 2021 |
175:[/color] You go work all you ass up!! Ask EFCC Boss For Update[color=#006600] |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by grandstar(m): 12:03am On Sep 18, 2021 |
Buckeyemedia1: https://www.nairaland.com/4861949/lamido-sanusi-laments-buharis-economic https://www.nairaland.com/5069142/cbn-must-adopt-new-measures https://www.nairaland.com/5069104/experts-buhari-remove-petrol-subsidy |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by fsb(m): 12:03am On Sep 18, 2021 |
What is the point of CBN issuing licenses to BDC operators in the first place? I wonder if it wont have made sense for people to buy directly from banks and end this black market business. |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by kayjay69(m): 12:09am On Sep 18, 2021 |
please tell me how abokifx as a platform is speculating on naira by reporting the happenings on the streets of Nigeria. we are so inept and devoid of gumption that the only thing we are good at is to turn everything to rofo rofo fight when we lack proper talking points. everybody and their grandma has known that this government's monetary policies have been stupid and utterly counterproductive. But now that the chickens have come home to roost, it is CEO of Abokifx that is at fault so hey let us shutdown his business for telling us what we already know to be true. DubaiLandLord1: 2 Likes |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by grandstar(m): 12:21am On Sep 18, 2021 |
bunto: Oga, The man in London isn't the problem. Incompetence by Buhari and his puppet CBN governor is the problem. Why is the Naira undergoing a free fall? The CBN used to sell dollars to the BDC's. The BDC's now sold it to buyers who got it immediately. Now, the government has banned the sale of forex to BDC's and everyone now has to go through the banks. It takes 4-5 weeks to get forex. This artificial scarcity is the cause of the free fall. I already predicted as much when the policy was introduced. Restart selling forex to the BDC 's and the Naira free fall would stop and it would appreciate in value. Most importantly, the CBN rate of 410 should be devalued to around 470 to reflect market realities, This will lead to a close merger of the CBN rate and Import and Exchange 3 Likes |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by HARDDON: 12:48am On Sep 18, 2021 |
DubaiLandLord1: if only you've walked into a bank to officially buy/sell dolls and got turned away, you would understand.... 2 Likes |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by OGAStacks2021: 12:49am On Sep 18, 2021 |
You will be a slave for life. Every time Buhari borrows money the naira is devalued. CBN Gov is scared his yansh is being open. DubaiLandLord1: |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by Mouhstorph5(m): 1:19am On Sep 18, 2021 |
An ignorant failure will always see norms as opposition |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by Nobody: 1:40am On Sep 18, 2021 |
Lagosfinder:His offence is that he is crippling your country economy by posting manipulative report on Naira to Dollar sales on his forex window forecast thereby putting fear on the goods and services in Nigeria |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by linearity: 3:21am On Sep 18, 2021 |
gambia: So, you think a gun sitting far away in UK can influence the fx of Naira and make it to fall against the Nigeria, but a whole CBN Governor with all his powers, tools and backing of the FG with the huge money he was throwing at FX lost to the loner? 1 Like |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by Rolings: 3:35am On Sep 18, 2021 |
GeorgeTheCoder: Can britain allow what abokifx do what it is doing to the naira to the pounds? Which country surrenders its fx market to manipulators? Answer nairaland fx expert? Una go dey defend what is not obtainable anyhwere to happen to your country and is shameless about it How will government policy work when citizens like you encourage saboteurs Have some shame man 1 Like |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by hope4nigeria(m): 3:50am On Sep 18, 2021 |
DubaiLandLord1:simple |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by Powersurge: 4:27am On Sep 18, 2021 |
DubaiLandLord1: Emefiele is fighting a just, but lost cause. BDC, like most things in Nigeria began with ethnicity and nepotism. In 1983, Abubakar Ahmed (Longest CBN governor) started the BDC and greatly incentivised the north with it. Nigeria operates multiple exchange system. Emefuele is aware of this, but chooses to flex muscle on the commoners. The present "regime" expressly gave order to issue dollar to those going for Mecca at about 110 when the true value was around 375 then. Politicians in high places and friends of Emefuele easily bend the rules. It costs about 50-100m dollars to get BDC license, tell me do u think it's the ragtags on the streets that got that? Almost everybody in govt manipulate the economy. They don't care what happens. Emefuele himself and those before him cannot deny they part of it. Former CBN governor, Sanusi, said he could get 100m dollars delivered to his house from CBN with just a phone call. I watched the interview live after he became Emir. Do you think Sanusi will get it at prevailing rate? How many others like Sanusi do you think we have? By the time they do this, they create scarcity and those that need dollars for other legitimate business would be left high and dry. I don't want to go into the problem of banks. Did you know how banks were heavily manipulating forex systems in Nigeria? Part of the problems that banks created in fx market was what led to CBN giving money to BDC. 2 Likes 1 Share |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by pacespot(m): 4:29am On Sep 18, 2021 |
It amazes me how this government can find a way to blame their incompetence and greed on anybody else, they can even say AbokiFX is the cause of Naira falling |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by stepaside2: 4:42am On Sep 18, 2021 |
Rolings:What i have come to realise is that a lot of people like to argue against everything govt does. It is not a bad thing if the arguments support their positions. What are the alternatives? Float the naira and stop maintaining multiple rates. Ok, good point. CBN started doing that through trading at the I&E window. It didn't stop the speculation as people can't stand the scrutiny required to operate at that window, they want to remain anonymous and informal with the possibility of continuous speculation. Supply the market adequately. Can be done if we have enough forex. However, we don't have and we can't continue asking CBN to defend the naira by dipping hands into our forex reserves. Many of us want to buy forex at official rates from the banks but very few want to sell to the banks because they rather sell at the higher black market rate. We need to look inwards to solve our problems 1 Like |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by Ade3131: 4:53am On Sep 18, 2021 |
duality: What if the platform reports Naira against dollar at 100 Naira to one dollar, does it mean people will trade USD at that amount? Guys who go round and report the prices of food items should be waiting for similar ban from the government b'cuz they also source their data from the ground/parallel market. You see enh, government is not just our thing in Africa. You can trace it back to the pre-colonial era if you like. African approach to governance is that of subjects to masters, whereas it's supposed to be the people and their public servants. Government are meant to serve the people and not what we see here. Was AbokiFX notified or invited for questioning? I believe No. The next thing you'll hear is that they will allow him do his business if he accepts to pay tax. Is that the right approach to drag someone into the tax net? That's exactly what was done to Twitter. Ban the platform without any notification or warnings, then invite him for talks. Is that how to run a public service? Hell no. Just to clarify. I'm not on the side of the government neither am I on the side of AbokiFX. Nigeria government allows BDC to trade FX at parallel market side-by-side with bank and BDC operators are licensed. These people buy FX from CBN and trade them at a premium. To curb the unofficial rate of dollars to Naira, the right thing to do is to clip the wings of these BDC operators by mandating them to peg the price of FX at official rate and enforce compliance. This means that AbokiFX who source for data from these people will only have the official rate to report......but we all know the carrot and stick approach of Africans. Kill the symptoms and leave the root cause |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by redcliff: 5:12am On Sep 18, 2021 |
DubaiLandLord1: in all honesty, you are truly naive as someone else said. There is no country in the world where the banks are the only Fx exchangers. |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by datopaper(m): 5:20am On Sep 18, 2021 |
Are u not a Nigerian? CBN monitoring banks! Why do u think we are where we are? Corruption is everywhere? You will find out ... DubaiLandLord1: |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by ityP(m): 6:27am On Sep 18, 2021 |
grandstar: Same thing happens when fuel is scarce. Black market thrives and prices skyrocket. It's simple economics. With or without abokiFX, black market prices will continue to skyrocket. Na just those wey dey buy go know. People supporting the CBN are not economically savvy individuals 4 Likes 2 Shares |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by ityP(m): 6:30am On Sep 18, 2021 |
GeorgeTheCoder: Well, the slide will continue but most people won't know. Na only those wey dey trade forex and those wey dey buy black market go sabi say e dey increase. CBNs action is like not treating a wound but using plaster to cover it so that people don't see. The rot will continue and when it's too much, even the plaster will fall off |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by alexvic12: 6:31am On Sep 18, 2021 |
Then this is a welcome step to solve the problem that they "created", right? folks4luv: |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by ityP(m): 6:34am On Sep 18, 2021 |
HARDDON: No mind am. He thinks this is elementary mathematics |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by ityP(m): 6:35am On Sep 18, 2021 |
linearity: Good question. I wonder how these people think |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by ityP(m): 6:38am On Sep 18, 2021 |
Ade3131: No mind these mumu people. I bought gas 12.5kg last 3 months 5k. Last month for 6k, a day yesterday, for 7k. So na abokiFX dey increase the price abi ... It's just like fuel. If there's scarcity of fuel, black market will thrive. They will hike the prices of fuel so high and it would not matter what rate NNPC fixes. If I start getting info on how much they sell and I post, na me come be the cause of the hike abi? I wonder how some of us reason 2 Likes |
Re: AbokiFX: Emefiele To Oniwinde Adedotun “Come Let's Fight” (Video) by edupedia: 6:41am On Sep 18, 2021 |
GeorgeTheCoder: Shame on u. |
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