Bureau De Change (BDC) operators have refuted widespread rumours circulating on X (formerly Twitter) suggesting that the dollar is now trading at N1,000 in the parallel market.
Reports had surfaced on X, particularly regarding transactions near Sheraton Hotel in Zone 4, Abuja, claiming a drastic drop in the dollar’s value.
The viral post alleged, “This morning, at Zone 4 Abuja, along the Sheraton Hotel, the dollar is selling at N1,000 – $1.”
However, when The Punch reached out to “Abdusallam BDC” (Abubakar Abdusallam) on Tuesday in Abuja, he clarified that the dollar was actually selling at N1,300/$1, refuting the lower rates reported.
Furthermore, a user on X, who visited the location mentioned, affirmed that there was no such transaction, denouncing the news as “fake.”
The Central Bank of Nigeria recently offered to sell dollars to BDC operators at a set rate of N1,251/$, with a cap at N1,269/$. This regulation aims to maintain stability in the foreign exchange market.
As of the time of reporting, Aminu Gwadabe, the President of the Bureau De Change Association of Nigeria, could not be reached for comment.
