Bureau De Change operators have refuted claims suggesting that the dollar is now being sold at N1,000 in the parallel market.
Recent reports on X (formerly Twitter) have claimed that the dollar is trading at N1,000 in Abuja, particularly around Zone 4 near Sheraton Hotel.
According to the X post, “Abdulsalam BDC” is purportedly selling dollars at N900 for transactions over $5,000, sparking a rush to offload dollars in the area.
However, when contacted by our correspondent in Abuja, “Abdusallam BDC” (Abubakar Abdusallam) denied selling foreign exchange at the quoted price, stating that the dollar is currently priced at N1,300/$1, not N1,000 or N900 as reported.
The Central Bank of Nigeria recently offered to sell $10,000 to each BDC operator at a rate of N1,251/$, with a ceiling price of N1,269/$, representing a margin of N18.
An X user, whose identity remains unknown, also dismissed the rumor, confirming that there were no such transactions at Sheraton Hotel Zone 4 where the alleged dollar trading was said to take place.
Efforts to obtain a statement from the President of the Bureau De Change Association of Nigeria, Aminu Gwadabe, were unsuccessful at the time of filing this report.
