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History Of Oniwinde Adedotun: Everything To Know About AbokiFX Owner, Oniwinde Adedotun Profile, Wife, Family, Children, Net Worth
Wikipedia Profile: Who Is Oniwinde Adedotun?
Oniwinde Adedotun (born September 1975) whose real, full name is Olusegun Adedotun Oniwinde is a Nigerian born Forex dealer who is the owner of AbokiFX, a website that deals on foreign exchange rates in Nigeria and across the world.
The Central Bank of Nigeria (CBN) Governor, Emiefiele, refers to Olusegun Oniwinde Adedotun as an illegal FX dealer, who will be prosecuted for endangering the Nigerian economy.
Oniwinde Adedotun Profile Bio Data
Name: Oniwinde Adedotun
Real, Full Name: Oniwinde Olusegun Adedotun
Nationality: Nigerian, British
Country Of Residency: UK
State Of Origin, Home Town: N/A
Tribe: Yoruba
Date Of Birth: September 1975
Birthday: September
Age: 46 years old (in 2021)
Marital Status: Married
Wife: Mrs Oniwinde Adedotun
Children: Yes
Career, Occupation: Forex Dealer, Trader, Businessman
Net Worth: $50 million US Dollars
Education: Chartered Accountant
What Is AbokiFX?
AbokiFX is a website that publishes the parallel market exchange rate of the Naira against Dollars, other currencies of the world on a daily basis.
About Oniwinde Adedotun's AbokiFX
Oniwinde Adedotun is the owner of AbokiFX. AbokiFX shows daily Naira exchange rate, giving accurate update on the exchange rate of Naira daily.
AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014. On Thursday, abokiFX reported that the naira was trading at 570 to the dollar at the parallel market.
AbokiFX, registered in Arizona, United States, is the 63rd most visited website in Nigeria as of September 16, 2021.
Who Is The Founder & Owner Of abokiFX?
The owner and director of AbokiFx is OLUSEGUN ADEDOTUN ONIWINDE, who was born in September 1975 and he is a Nigerian British and resides in England.
OLUSEGUN ADEDOTUN ONIWINDE is the director of abokiFX , he is also a chartered accountant by profession, he was appointed as the director of abokiFX on 2nd October 2015.
Olusegun Oniwinde is very successful in his profession, he also has a total of 4 appointments in other companies including abokiFX namely: – ES Merchant limited, he was appointed the director on 11th September 2014, BOAZ associate limited he was appointed the director on 2nd September 2003, the last but not the least ESTHER’S limited he was appointed the secretary on 22nd September 2004 but he is no longer an active participant of the company.
AbokiFX is an online platform for the live exchange rate, it was formed on 2nd October 2015 and was registered in 2016. The popularity of the company peaked between February 17 and 23 2019 in Nigeria, America, and the UK.
CBN, Emefiele Vs AbokiFX, Oniwinde Adedotun
Oniwinde Adedotun and AbokiFX Limited are currently under investigation for “illegal foreign exchange transactions”.
CBN is said to be investigating seven accounts belonging to Adedotun and abokiFX, vetting every forex transaction from 2019 till 2021.
Reports on social media claim that Adedotun is being investigated for foreign exchange rate manipulation, but another source within the bank said he could not confirm the rumours.
CBN To Capture, Arrest And Prosecute Olumide Oniwinde, owner of AbokiFX – Emefiele
At the recently concluded MPC meeting by the Central Bank of Nigeria (CBN), the CBN Governor, Godwin Emefiele responded to rumours on social media about CBN making enquiries on the legality of the operations of abokiFX.
Emiefiele, while responding to questions after the MPC meeting on Friday, September 17, 2021, referred to Mr Olumide Oniwinde, the owner of abokiFX as an illegal FX dealer who will be prosecuted for endangering the Nigerian economy.
AbokiFX is a website that publishes the parallel market exchange rate of the Naira against other currencies of the world on a daily basis.
According to the governor, Mr Olumide Oniwinde started the abokiFX operation in 2015 and has since milked the economy by taking position, while manipulating the exchange rate. He stated that “The CBN act section 2, does make it clear that only the Central Bank can determine the value of the naira, and yet a single individual living in England continues to manipulate the exchange rate and make huge profit which he withdraws through an ATM in London.”
He explained that despite the company filing the same figures of 1,000 pounds in its financial statements for the past 4 years, Mr Oniwinde and the company has over 25 bank accounts in Nigeria with about 8 banks both in naira and dollar with significant turnover.
He also confirmed that the apex bank wrote a memo to banks to provide the information about abokiFX as he stated that the CBN has been studying the activities of abokiFX in the last two and half years.
“There was a particular time I asked our colleagues to call the so-called owner of abokiFX, that we want to understand his model and how he came about advertising those rate, we find him as someone, a Nigerian who lives in England and conducts this nefarious activity on our economy.
“It is economic sabotage and we will pursue him, wherever he is, we will report him to international security agencies, we will track him, Mr Oniwinde, we will find you, because we cannot allow you to continue to conduct an illegal activity that kills our economy.” Emefiele said.
Mr Emefiele reiterated that their preliminary findings suggest that the website was built and is being used purely for the purpose of foreign exchange manipulation and speculations. “They get naira loans, use to purchase dollars, take a position, change the rate over a given period, sell the dollars they purchased and make a profit, this is completely illegal, unacceptable and we will pursue them,” he explained.
Why this matter
The recent clampdown on the owner of abokiFX by the Central Bank is in its bid to defend the naira against other currencies as the variance between the official rate and the black market continues to widen.
Recall that the apex bank, two months ago discontinued the sales of forex to BDC operators in the company, due to alleged acts of sabotaging the country’s economy.
Oniwinde Adedotun And Emefiele Fight (Video)
CBN Governor, Godwin Emefiele Wants To Fight With Oniwinde Adedotun, AbokiFX CEO
Godwin emefiele said some strong words towards aboki fx and took a stand against bdc’s, he said aboki fx are manipulating the forex market and needed to be stopped before more damages are done.
He explained that Nigeria must stop empowering black market entities and use proper channels to disseminate information
Emefiele stated that the founder of aboki fx Oniwinde Adedotun lives in the UK, enjoys their facilities and withdraws money from the platform through an ATM in the UK. He Urged the oniwinde to “come out and fight”
AbokiFX is a web platform that reports changed in the foreign exchange market since as early as 2014.
On the website, Naira is quoted at 570 to the dollar at the black market, though the apex bank had described it as an illegal market.
The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it,” Emefiele said.
“I am sorry to say that I do not, and I do not intend to recognise any fx in the market.
“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it.
AbokiFX Finally Speaks
ABOKIFX MANAGEMENT DECISION
abokiFX has taken the decision today, the 17th of September 2021, to temporarily suspend rate updates on all our platforms, until we get better clarity of the situation.
Final rates have been posted this evening but the abokiFX news section and the Crypt° rates section will still be active.
WHO WE ARE
abokiFX was established in 2014 as a research and information service company, to conduct market research and gather data on the parallel market rates.
We also wanted to provide some transparency around the parallel market with the availability of information technology.
abokiFX purely provides benchmark parallel rate information which helps guide our users in almost 200 countries across the world.
abokiFX does NOT TRADE FX, which we have always maintained in our emails and social media platforms.
We do not Trade FX neither do we have the power to manipulate the rates as we DO NOT CREATE the rates.
We are the only entity in Nigeria that has a full set of parallel rates, right from our inception in 2014 when the exchange rate was trading at N166 to Sl.
We collated data for years before we started publishing, as we realised the demand increased for our historical data.
To most users of our platforms, we are just a parallel rates board but to many institutions, ranging frorn IVY league universities, to global businesses and research centres, we area keysource of data, especially, historical data (almost a decade's worth of data on parallel rates).
Companies use our data for their internal and external audits as well as planning and budgeting.
We ONLY publish what we source on the streets of Lagos, hence the phrase, Lagos Parallel Rates. The rates sourced are carefully collated, reviewed and a mean rate is published from the data pool. This explains our three daily updates - * Morning, ** Midday, ***Evening.
Sometimes, rates come in late but we have to wait for the full set of rates before they are published, to prevent volatility of rates.
None of our data source providers know who we are or what their rates are being used for. This is to avoid any manipulation of rates.
Our staff have a daily routine of going to the market to gather rates, as all the BDCs in the country have their rates clearly displayed on their rates board and parallel market rate dealers give the information away freely.
All we do is collate all that information and display it on all our platforms daily.
REPLAY OF 2017 vs 2021
In 2017, Nigeria experienced an FX crises and the Naira depreciated to over N500/$1. abokiFX was accused of manipulating the parallel market rates.
Once liquidity was injected, the Naira appreciated and we published the appreciation which is basically what we do.
2021 has seen a similar scenario with the naira depreciating and we have published what we have been given, which has led some to believe we are manipulating the market. Yet no one can complain about our rates deviating +/- 2% from the parallel market rates when they patronise the dealers in the rnarket.
If we do not create the rates, how then can we control the rates. Our only sources of income have been our API and advert sales.
ALLEGATIONS AGAINST OUR DIRECTOR
All allegations against our director are yet to be confirrned but we at abokiFX DO NOT trade FX neither do we manipulate parallel rnarket rates.
Outside the media allegation, we have not received any communication from any government body and our accounts are not closed as stipulated in the media.
WAY FORWARD
abokiFX is fully functional BUT we will not be publishing any form of rates on our platforms for now. We sincerely hope this suspension will lead to the Naira appreciation from next week. With our decision to temporarily suspend online rate publication, we are aware that there will be limited visibility of parallel rates information which will impact decision making for rnany.
Full Biography Of Oniwinde Adedotun Olusegun
State Of Origin, Home Town, Tribe: Where is Oniwinde Adedotun from? Oniwinde Adedotun hails from South West part of Nigeria. He is Yoruba by tribe.
Date of Birth, Birthday, Age: How old is Oniwinde Adedotun? Oniwinde Adedotun was born in September 1975. AbokiFX owner, Oniwinde Adedotun is currently 46 years old as at 2021.
Family, Wife, Children: Oniwinde Adedotun is Married to Mrs Adedotun, his wife and they are blessed with children.
Oniwinde Adedotun and his family live in the UK.
Educational Background, School: Oniwinde Adedotun is a chartered accountant by profession.
Net Worth: Oniwinde Adedotun, AbokiFX owners net worth is about $50 million US Dollars.
House, Cars: Oniwinde Adedotun lives in his house in London.
Oniwinde Adedotun Social Media Handles
Instagram: Oniwinde Adedotun is not on Instagram.
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