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BDC Operators Deny Dollar Selling at N1,000

Contrary to circulating reports on X (previously known as Twitter), Bureau De Change operators have refuted claims that the dollar is now being sold at N1,000 in the parallel market.

There have been widespread reports on X suggesting that the dollar is trading at N1,000 in Abuja.

A post on X stated, “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, upon contacting Abdusallam BDC (Abubakar Abdusallam) in Abuja on Wednesday, he denied any such transactions at the mentioned prices.

“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 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.


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