Contrary to circulating reports on X (formerly Twitter), Bureau De Change operators have dismissed claims of the dollar selling at N1,000 in the parallel market.
There have been widespread reports on X suggesting that the dollar is now priced at N1,000 in Abuja.
According to the X post: “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, our correspondent contacted “Abdusallam BDC” (Abubakar Abdusallam) in Abuja, who refuted selling FX at the quoted price. “Dollar is selling at N1300/$1, not N1000 or N900,” he clarified.
Recently, the Central Bank of Nigeria offered to sell $10,000 to each BDC operator at N1,251/$. The apex bank expects them not to sell above N1,269/$, representing a margin of N18.
An X user, whose real name could not be confirmed, also debunked the rumor, stating that he was 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 asserted.
As of the time of filing this report, President of the Bureau De Change Association of Nigeria, Aminu Gwadabe, could not be reached for comment.
Further details will be provided later.
Details shortly…
