CBN Investigating AbokiFX Founder Over Illegal Forex Trading

The Central Bank of Nigeria (CBN) has commenced an investigation into the activities of Oniwinde Adedotun, the founder of AbokiFX.

TheCable reports that Adedotun and his company are being investigated by CBN for “illegal foreign exchange transactions”.

A source told TheCable that “unusual forex transactions” were found in Adedotun’s account, suggesting the promoters of the platform have been involved in illegal forex trading.

It was further disclosed that the CBN is looking into seven bank accounts belonging to Adedotun and AbokiFX and vetting every forex transaction from 2019 till 2021.

AbokiFX is an online platform established in 2014 that reports on the foreign exchange market.

It was registered in Arizona, United States and is the 63rd most visited website in Nigeria as of September 16, 2021.

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