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

According to The Cable, sources within the apex bank disclosed that Adedotun and abokiFX Limited are currently under investigation for “illegal foreign exchange transactions”.

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.

An insider, familiar with the events, told TheCable that “unusual forex transactions” were found in his account, suggesting the promoters of the platform have been involved in illegal forex trading.

The Cable further reports that the 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.

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