Contrary to rumors circulating on X (formerly Twitter), Bureau De Change operators have refuted claims that the dollar is now being sold at N1,000 in the parallel market. Reports emerged on X indicating that the dollar was allegedly selling at N1,000 in Abuja.
According to the post on X, “This morning, at Zone 4 Abuja, along the Sheraton Hotel, the dollar is selling at N1,000 – $1. Abdulsalam BDC is selling N900 if buying over $5,000. There’s a mad rush to dispose of dollars at Zone 4. The dollar in the parallel market is presently selling at a lower price than the official market.”
However, when contacted by our correspondent on Wednesday in Abuja, “Abdusallam BDC” (Abubakar Abdusallam) denied selling foreign exchange (FX) at the quoted price. He stated, “Dollar is selling at N1300/$1, not N1000 or N900.”
Recently, the Central Bank of Nigeria offered to sell $10,000 to each BDC operator at N1,251/$, expecting them not to sell above N1,269/$, representing a margin of N18.
An X user, whose identity remains unconfirmed, also dismissed the rumor, asserting that he was present at the location (Sheraton Hotel Zone 4) and witnessed no such transaction. “I was at Zone 4 this morning, and there was nothing like that. This is fake news,” he clarified.
Efforts to reach the President of the Bureau De Change Association of Nigeria, Aminu Gwadabe, for a statement were unsuccessful at the time of filing this report.
