Aboki forex exchange

Author: s | 2025-04-24

Aboki Forex for iPhone, free and safe download. Aboki Forex latest version: Aboki Forex: A Reliable Currency Exchange Rates App. Aboki Forex is a curr Nigerian Banks Foreign Currencies Conversion Rates for Dollar, Euro, Pound - Aboki Forex Naira to Foreign Currencies Atm Exchange rates - Aboki Forex Aboki Forex

Trusted Aboki Exchangers - Aboki Forex

To deal with has been the sourcing and pricing of foreign currencies, due to the central bank’s questionable forex management.Keeping track of the CBN’s foreign exchange policies can be a dizzying affair as is setting up and using domiciliary accounts at legacy banks. The only solution is to build a better system and that’s what Aboki Africa has set out to do.1% feeAboki Africa officially launched in 2020 as an online money exchange service. Users could transfer foreign currencies from domiciliary accounts to their Aboki accounts in exchange for naira and vice versa. But after facing some difficulties with executing transfers, Idorenyin revealed that the company had to rebuild the platform, which culminated in a July 2021 relaunch with the addition of digital foreign bank accounts.“Initially, we expected that users would figure out how to receive their money and then come to the exchange using Aboki Africa. But now, we’re also helping them solve the problem of receiving money, which they can exchange with us immediately.”Aboki Africa uses the parallel market (black market) rates for currency exchanges and charges a 1% fee on every transaction or conversion, capped at ₦3,000 (around $6).Nigerians can sign up and get a foreign account within 1-2 business days after registration, provided they meet compliance requirements, according to Idorenyin.For now, Aboki Africa only provides European currency-denominated accounts (Pounds and Euros). It is currently working on adding USD accounts.What next?Aboki Africa’s operation so far has been funded by two angel investors. Idorenyin revealed that the startup is in the process of raising pre-seed funding.The startup plans to expand product offerings for users, starting with the addition of more currency support including USD, and the launch of a mobile application. It is also looking to deepen market penetration in Nigeria. Currently, Aboki Africa has around 3,000 users. Given the sheer scale of the retail forex market in Nigeria, the startup will be looking to increase its user figures significantly as it expands, especially in the wake of the CBN ban on BDCs. The demand pool includes remote workers, remittance recipients, importers and exporters, traders, manufacturers, etc.“There’s a

Trusted Aboki Exchangers - Aboki Bureau De Change - Aboki Forex

Aboki Africa is a startup that offers digital foreign bank accounts and foreign exchange services to Nigerians via its web-based platform. The company was founded by Idorenyin Obong and Joseph Aghedo, inspired by the personal experience of the former.“The idea first came up in 2019. I had saved up in U.S. dollars and wanted to pay my rent with the money. I remember spending most of my day trying to convert USD to Naira,” Idorenyin told TechCabal. “The experience was concerning to me at that moment, and led to Aboki Africa, which we launched around a year later.”Back then, Idorenyin employed the services of a bureau de change (BDC) operator in Lagos to convert his money. Fast forward to two years later, the exchange rate has not only skyrocketed (in favour of the USD), it’s also become harder to find a money changer.This is because, on July 27, the Central Bank of Nigeria (CBN) halted the sale of foreign currencies to bureau de change operators, a decision that sparked backlash due to the vital role BDCs play in the retail segment of the forex market.The wide network of the 5,600+ licensed BDC operators has been a reliable and easy go-to source for Nigerians quickly seeking foreign currency for education, travel, and other minor transactions. But that was not the first time a CBN announcement on forex-related affairs would cause apprehension. Since 2015, a major economic challenge Nigerians have had to deal with has been the sourcing and pricing of foreign currencies, due to the central bank’s questionable forex management.Keeping track of the CBN’s foreign exchange policies can be a dizzying affair as is setting up and using domiciliary accounts at legacy banks. The only solution is to build a better system and that’s what Aboki Africa has set out to do.1% feeAboki Africa officially launched in 2020 as an online money exchange service. Users could transfer foreign currencies from domiciliary accounts to their Aboki accounts in exchange for naira and vice versa. But after facing some difficulties with executing transfers, Idorenyin revealed that the company had to rebuild the platform,

Naira Exchange Rates (Forex) Market News - Aboki Forex

The Nigerian Naira continues to exhibit slight fluctuations against the US Dollar in the black market, commonly referred to as the “Aboki” market.On this day, February 16, 2025, the informal exchange rates have been observed across various trading hubs in Nigeria, with the average buying rate for the US Dollar settling at around ₦1,555 and the selling rate hovering at about ₦1,565.Trending Now!!:This minor adjustment from previous days reflects the ongoing volatility in Nigeria’s currency market, which is influenced by a range of factors, including government policy, global economic conditions, and local demand for foreign currency.Recent weeks have seen the Naira grappling with depreciation pressures, with today’s rates showing a marginal improvement over the rates reported on February 13 and 14, where the buying and selling rates for the dollar were slightly higher at ₦1,560/₦1,570 and ₦1,555/₦1,565 respectively.Analysts have pointed out that while the black market rates are often higher than the official rates due to the parallel market’s supply-demand dynamics, the Central Bank of Nigeria (CBN) has been implementing policies aimed at stabilizing the Naira. These include efforts to increase foreign exchange inflows and curb inflation, which currently stands at around 34.6%.The CBN’s strategies are part of a broader economic plan under President Tinubu’s administration to reduce inflation to 15% by the end of 2025, potentially leading to a more stable Naira. However, the effectiveness of these policies in the informal sector remains to be seen, given the market’s sensitivity to immediate economic signals and public sentiment.The black market remains a significant indicator for many Nigerians, especially for those dealing with international trade, travel, or remittances, where the official channels might not meet the immediate needs due to various restrictions or bureaucratic processes.For those engaged in forex transactions, staying updated with the latest rates via platforms and social media can be crucial, as these rates can shift rapidly within a day.As the situation evolves, the Nigerian government’s ongoing efforts to manage economic stability will be closely watched by both domestic and international observers. The Naira’s performance against major currencies like the Dollar will be a key barometer of these efforts.. Aboki Forex for iPhone, free and safe download. Aboki Forex latest version: Aboki Forex: A Reliable Currency Exchange Rates App. Aboki Forex is a curr Nigerian Banks Foreign Currencies Conversion Rates for Dollar, Euro, Pound - Aboki Forex Naira to Foreign Currencies Atm Exchange rates - Aboki Forex Aboki Forex

FOREX News - Aboki Forex - Dollar To Naira Exchange Rate

Which culminated in a July 2021 relaunch with the addition of digital foreign bank accounts.“Initially, we expected that users would figure out how to receive their money and then come to the exchange using Aboki Africa. But now, we’re also helping them solve the problem of receiving money, which they can exchange with us immediately.”Aboki Africa uses the parallel market (black market) rates for currency exchanges and charges a 1% fee on every transaction or conversion, capped at ₦3,000 (around $6).Nigerians can sign up and get a foreign account within 1-2 business days after registration, provided they meet compliance requirements, according to Idorenyin.For now, Aboki Africa only provides European currency-denominated accounts (Pounds and Euros). It is currently working on adding USD accounts.What next?Aboki Africa’s operation so far has been funded by two angel investors. Idorenyin revealed that the startup is in the process of raising pre-seed funding.The startup plans to expand product offerings for users, starting with the addition of more currency support including USD, and the launch of a mobile application. It is also looking to deepen market penetration in Nigeria. Currently, Aboki Africa has around 3,000 users. Given the sheer scale of the retail forex market in Nigeria, the startup will be looking to increase its user figures significantly as it expands, especially in the wake of the CBN ban on BDCs. The demand pool includes remote workers, remittance recipients, importers and exporters, traders, manufacturers, etc.“There’s a huge market of business people and remote workers, especially because of Covid. They can generate foreign accounts with us, give to whoever is paying them from abroad and get paid, as well as exchange currencies with us.” Idorenyin is also targeting the API infrastructure market for foreign exchange, which he says is currently untapped.“We have a couple of things to improve on and offer. For instance, providing infrastructure services such as APIs to other companies for global foreign payouts. Aboki Africa is also considering expanding to as many countries as possible.”During his undergraduate days and since bagging a bachelor’s degree in computer science from the Cross River University of Technology, Idorenyin

Aboki Forex - Dollar To Naira Exchange Rate

Forex Dollar to Naira Black Market Exchange Rate February 1st, 2024 As of February 1st, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1510 NGN in the black market, also referred to as the parallel market or Aboki fx. Share Tweet As of February 1st, 2024, the exchange rate for the US dollar to the Nigerian Naira stands at 1 USD to 1510 NGN in the black market, also referred to as the parallel market or Aboki fx.For those engaging in currency transactions in the Lagos Parallel Market (Black Market), buyers purchase a dollar for N1,450 and sell it at N1,440 on Wednesday, January 31st, 2024 based on information from Bureau De Change (BDC).Meaning, the Naira exchange rate declined when compared to today’s rate below.This black market rate signifies the value at which individuals can trade their dollars for Naira outside the official or regulated exchange channels.Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics.How much is the Black market dollar to Naira today, 1st February 2024?Kindly be aware that the Central Bank of Nigeria (CBN) does not acknowledge the existence of the parallel market, commonly referred to as the black market.The CBN has advised individuals seeking to participate in Forex transactions to utilize official banking channels.Black Market Dollar to Naira Exchange RateBuying Rate: N1,510Selling Rate: N1,500 Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Foreign Currency Exchange Rates - Aboki Forex

Huge market of business people and remote workers, especially because of Covid. They can generate foreign accounts with us, give to whoever is paying them from abroad and get paid, as well as exchange currencies with us.” Idorenyin is also targeting the API infrastructure market for foreign exchange, which he says is currently untapped.“We have a couple of things to improve on and offer. For instance, providing infrastructure services such as APIs to other companies for global foreign payouts. Aboki Africa is also considering expanding to as many countries as possible.”During his undergraduate days and since bagging a bachelor’s degree in computer science from the Cross River University of Technology, Idorenyin has worked with some of Nigeria’s leading startups, including Hotels NG, cryptocurrency exchange Busha and Paystack, and as a technical writer for foreign companies.He says with his work experience, he could “easily have kept working and earning great salaries” but had to build Aboki Africa because it was a “personal pain point and there was no solution” available.“That’s one of the things that keep you going every day. We were not trying to build this because everyone is building a startup. It’s a problem we really wanted to solve.”Source: more stories like this here:

Dollar To Naira Exchange Rate - Aboki Forex

What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?See the black market Dollar to Naira exchange rate for 29th February, below. You can swap your dollar for Naira at these rates.How much is a dollar to naira today in the black market?Dollar to naira exchange rate today black market (Aboki dollar rate):The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1500 and sell at N1510 on Thursday 29th February 2024, according to sources at Bureau De Change (BDC).Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.Dollar to Naira Black Market Rate TodayDollar to Naira (USD to NGN)Black Market Exchange Rate TodayBuying RateN1500Selling RateN1510Dollar to Naira CBN Rate TodayDollar to Naira (USD to NGN)CBN Rate TodayBuying Rate1629Selling Rate1630Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.Price Of Local Rice Rose By 98.47% in One Year- NBSThe National Bureau of Statistics (NBS) has revealed that the price of local rice rose by 98.47 percent in January 2024.Announcing the development in its latest food price watch released for January 2024, the statistics bureau detailed that the kilogram price of local rise rose from N514.83 in January 2023 to ₦1,021.79 in January 2024.Naija News reports that the NBS data further detailed that the average price of boneless beef rose by 37.08 per cent between January 2023 and January 2024.Also, the price of brown beans reportedly rose by 64.42 per cent between January 2023 and January 2024.. Aboki Forex for iPhone, free and safe download. Aboki Forex latest version: Aboki Forex: A Reliable Currency Exchange Rates App. Aboki Forex is a curr

How Aboki Forex Exchange is Transforming the Foreign

Has worked with some of Nigeria’s leading startups, including Hotels NG, cryptocurrency exchange Busha and Paystack, and as a technical writer for foreign companies.He says with his work experience, he could “easily have kept working and earning great salaries” but had to build Aboki Africa because it was a “personal pain point and there was no solution” available.“That’s one of the things that keep you going every day. We were not trying to build this because everyone is building a startup. It’s a problem we really wanted to solve.”Source: more stories like this here: 1 Like This once’s that don’t understand what they are doing. How can’t the provide statement of account?BigCabal:Aboki Africa is a startup that offers digital foreign bank accounts and foreign exchange services to Nigerians via its web-based platform. The company was founded by Idorenyin Obong and Joseph Aghedo, inspired by the personal experience of the former.“The idea first came up in 2019. I had saved up in U.S. dollars and wanted to pay my rent with the money. I remember spending most of my day trying to convert USD to Naira,” Idorenyin told TechCabal. “The experience was concerning to me at that moment, and led to Aboki Africa, which we launched around a year later.”Back then, Idorenyin employed the services of a bureau de change (BDC) operator in Lagos to convert his money. Fast forward to two years later, the exchange rate has not only skyrocketed (in favour of the USD), it’s also become harder to find a money changer.This is because, on July 27, the Central Bank of Nigeria (CBN) halted the sale of foreign currencies to bureau de change operators, a decision that sparked backlash due to the vital role BDCs play in the retail segment of the forex market.The wide network of the 5,600+ licensed BDC operators has been a reliable and easy go-to source for Nigerians quickly seeking foreign currency for education, travel, and other minor transactions. But that was not the first time a CBN announcement on forex-related affairs would cause apprehension. Since 2015, a major economic challenge Nigerians have had

Trusted Aboki Exchangers - Aboki Forex

Ta yaya za mu nuna cewa muna ƙaunar Jehovah?— Hanya ɗaya ita ce ta wajen sanin cewa Aboki ne.How can we show that we love Jehovah?— One way is by getting to know him as a Friend.27:9) Haka ne kake ɗaukan kowace shawara da wani aboki ya ba ka?27:9) Is that how you view any counsel you receive from a friend?Na ga yadda Jehobah zai iya kusantar mutum a matsayin aboki.”I have seen how close Jehovah can be as a friend.”Wannan zai iya kasancewa lokaci ne mai kyau na ziyartar aboki kuma a taimake shi ya ci abinci.”So these may be good moments to visit a friend and help him eat.”Shin kana da wani aboki da ba ka san sunansa ba?Can you think of any close friend of yours whose name you do not know?15 Ango da amarya suna yin mamaki sa’ad da aboki ko abokiyar aurensu na da ra’ayi dabam da nasu.15 Many newlyweds are surprised, even disappointed, when their mates differ with them on important issues.Ya kasance irin mutumin da aka ambata a Misalai 17:17: “Aboki kullayaumi ƙauna ya ke yi, kuma an haifi ɗan’uwa domin kwanakin shan wuya.”He was the kind of person mentioned at Proverbs 17:17: “A true companion is loving all the time, and is a brother that is born for when there is distress.”(Zabura 55:22) Idan faɗin jiye-jiyenka ga aboki mai-ganewa zai iya taimakawa fa, dubi misalin yadda zai fi taimakawa ka zub da zuciyarka ga “Allah na dukan ta’aziya”!—2 Korinthiyawa 1:3.(Psalm 55:22) If talking out your feelings with a sympathetic friend can help, how much more will pouring out your heart to “the God of all comfort” help you! —2 Corinthians 1:3.Kuma ku fahimci yadda irin rainon da aka yi wa aboki ko abokiyar aurenku ya shafi halin shi ko ita.Also, try to understand how your mate’s background has influenced his or her attitude.Amma kuma ya bayyana dalla-dalla cewa kowane Kirista da ke da aure ya ko ta mai da hankali sosai ga bukatu na zahiri da ta zuciya na aboki ko abokiyar aurensa.But he also made clear that each married Christian should. Aboki Forex for iPhone, free and safe download. Aboki Forex latest version: Aboki Forex: A Reliable Currency Exchange Rates App. Aboki Forex is a curr

Trusted Aboki Exchangers - Aboki Bureau De Change - Aboki Forex

Back to blogIndustry insights A guide to forex risks and misconceptions, and proven strategies for managing forex risks effectively.In this guideHow to manage foreign exchange risk in 2023 – and why it’s critical for business successA guide to forex risks and misconceptions, and proven strategies for managing forex risks effectively.IntroductionGlobal trade in goods and services hit a record of $32.1 trillion in 2022. That is roughly x45 the value of trade in 1950. Key to this growth is the efficient flow of currencies between countries. We refer to this conversion of one country's currency into another as foreign exchange, or forex. Forex is critical for any business with foreign buyers or suppliers. The ability to convert currencies at low cost, at speed, and when prices are favourable has a profound impact on financial performance. Conversely, when any of those factors are not managed effectively, there are significant cost and revenue implications. The more international trade a business does, the greater the rewards, and the risks.In this article we will look at the key forex risks, bust some common misconceptions, and share proven strategies for managing forex effectively.Understanding forex riskForex risk, often referred to as currency risk, is the potential financial loss that can result from fluctuations in the exchange rates between two different currencies. It arises when a business engages in transactions involving more than one currency, or from the value of assets and cash it holds in multiple currencies.Before we look into the different types of risks and mitigation strategies, let’s take a step back and give you a brief background on forex markets.Brief background on the forex marketThe forex market is the largest and most liquid financial market in the world. Daily trading averages somewhere between $6.5-7.5bn. Though forex trading is as old as international trade itself, the modern forex market began to take shape in the 1970s when the Bretton Woods system of fixed exchange rates was abandoned, leading to the adoption of floating exchange rates.Forex markets involve a wide range of participants, including central banks, commercial banks, financial institutions, multinational corporations, governments, speculators, and individual retail traders. The interbank market, where major financial institutions trade currencies with each other, forms the core of the forex market.Forex markets operate 24 hours a day, five days a week. The major trading centres are located in Tokyo, London, and New York, each with its own active trading hours, creating