Sports

Activist Wants Court to Restrain AbokiFX from Publishing Exchange Rate

Published

5 years ago

November 16, 2021

An activist, Solomon Semaka has asked a Federal High Court sitting in Abuja to restrain Abokifx and other unauthorised platforms from publishing or influencing exchange rates in the country.

The plaintiff in a suit No. FHC/ABJ/CS/1150/2021 wants the court to determine whether (abokiFX), anybody, group or organisation not duly registered as an authorised dealer or authorised buyer of foreign currency in Nigeria under the Central Bank of Nigeria of Nigeria Act 2007, the Foreign Exchange (Monitoring and Miscellaneous Provision) Act and other relevant statues can publish or influence foreign exchange other than the CBN.

Recall that the CBN had accused AbokiFX, an online forex site published by Oniwinde Adedotun of influencing foreign exchange rate and declared the publisher wanted. The organisation in swift reaction announced its decision to temporarily suspend rate updates.

The suit has Oniwinde Adedotun (AbokiFX publisher), Association of Bureau De Change Operators of Nigeria (ABCON), Central Bank of Nigeria and the Attorney General of the Federation as defendants.

In the suit, Solicitor to the Plaintiff, Barr. T. D Sorkaa of Sorkaa and Associates, Chambers, in the affidavit declared: “That it is only the CBN that the right to regulate or determine the foreign exchange in Nigeria under the CBN Act, 2007, the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act and other relevant statues.”

The matter has been assigned to federal high court 9 to be heard in January 17,2022.

Share on Facebook

Sports

Nigeria Targets Grassroots Sports Revival as Tinubu’s Aide Adeboye Unveils National Sports Grassroots Summit

Published

11 hours ago

November 5, 2026

The Gleamer

Joel Ajayi

The Senior Special Assistant to President Bola Tinubu on Grassroots Sports Development, Adeboye Adeyinka, has called for a comprehensive overhaul of grassroots sports development in Nigeria, urging stakeholders to prioritise youth empowerment, education and national development alongside medals and trophies.

Adeyinka stated this on Thursday in Abuja during a press conference while announcing the 2026 National Grassroots Sports Summit, scheduled for November 18 and 19 at the Banquet Hall of the State House, Presidential Villa, Abuja.

The summit, with the theme, “Creating a New Pathway for Sustainable Grassroots Sports Development,” is expected to bring together government officials, sports administrators, state and local government representatives, private-sector investors, development partners, coaches, athletes and other stakeholders.

The presidential aide stressed that sports development must be measured not only by international achievements but also by the number of young Nigerians whose lives are positively transformed through participation in sports.

He noted that while sporting excellence could lead some athletes to Olympic medals and World Cup glory, sports also offered millions of young people opportunities for education, personal development, employment and social inclusion.

“Sometimes, when we discuss sports development, we speak about stadiums, trophies, medals and international competitions.

“But I want us to remember that at the heart of every sporting achievement is a human being,” Adeyinka said.

He explained that participation in sports could help young Nigerians secure university scholarships, develop discipline, build confidence, acquire life skills and stay away from negative influences.

According to him, sports should be recognised as an important instrument for building character, strengthening communities and creating opportunities for young people, irrespective of their backgrounds.

On talent identification, Adeyinka expressed concern that Nigeria continues to lose potential sporting talents because many children lack access to adequate facilities, qualified coaches, encouragement and organised talent-discovery programmes.

He emphasised the need for an inclusive grassroots sports system that would provide equal opportunities for children in rural communities, public schools, underserved areas and different socioeconomic backgrounds.

The presidential aide maintained that a child’s sporting prospects should not be determined by geographical location, family background or connections to influential individuals.

He warned that without a coordinated approach to identifying and nurturing young talents, the country could continue to miss opportunities to discover future champions.

Adeyinka said the forthcoming summit was designed to develop a sustainable national framework for identifying, nurturing and supporting sporting talents across the 774 local government areas.

He added that the gathering would seek practical solutions to the challenges affecting grassroots sports administration rather than focus solely on speeches and ceremonial activities.

A major objective, he explained, was to move away from fragmented talent-discovery initiatives towards a coordinated national structure connecting school and community competitions with clubs, national competitions and international sporting opportunities.

The two-day summit will deliberate on five key areas: sports participation, talent development, infrastructure, the sports economy and international pathways.

Adeyinka expressed optimism that the recommendations from the summit would provide a roadmap for strengthening grassroots sports development, expanding youth participation and positioning sports as a viable contributor to Nigeria’s economic and social development.

He called on relevant stakeholders to support the initiative and work collectively towards building a sustainable grassroots sports system capable of identifying and developing talents across the country.

Share on Facebook