Dollar Not Selling At N1,000/$1, BDCs Opens Up

Contrary to the report making the rounds on X (formerly Twitter), Bureau De Change operators said there was no truth in reports that the dollar is now selling at N1,000 at parallel market.

There have been rending reports on X that dollar is now selling at N1,000 in Abuja

The X post read, “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, “Abdusallam BDC” (Abubakar Abdusallam) on Wednesday in Abuja while speaking with Punch, denied selling FX at the quoted price.

“Dollar is selling N1300/$1, not N1000 or N900,” he said.

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 N1,269/$, representing a margin of N18.

An X user, whose real name could not be ascertained, also debunked the rumour, stating that he was at the location (Sheraton Hotel Zone 4) and there was no such transaction.

“I was at Zone 4 this morning, and there was nothing like that. This is fake news,” he said.

The President of the Bureau De Change Association of Nigeria, Aminu Gwadabe, could not be reached for
statement as of the time of filing this report.