BDC operators refute rumours of dollar selling at N1,000 in Abuja parallel market

Contrary to circulating reports on social media platform X (formerly Twitter), Bureau De Change (BDC) operators have vehemently denied claims of the dollar selling at N1,000 in the parallel market in Abuja.

The viral post on X (formerly Twitter) alleged that along the Sheraton Hotel in Zone 4, Abuja, the dollar was purportedly being exchanged at N1,000 per $1, with specific mention of “Abdulsalam BDC” selling at N900 for transactions over $5,000.

However, when contacted, Abubakar Abdusallam, allegedly referred to in the post, refuted the claims, asserting that the actual rate was N1,300 per $1, not N1,000 or N900 as indicated.

The Central Bank of Nigeria recently announced the sale of $10,000 to each BDC operator at a rate of N1,251 per dollar, with an expectation for them not to exceed N1,269 per dollar, maintaining a margin of N18.

An anonymous X (formerly Twitter) user, who claimed to have been present at the location mentioned, debunked the rumor, labelling it as “fake news” and affirming that no such transactions occurred at the Sheraton Hotel in Zone 4.

Efforts to obtain a statement from the President of the Bureau De Change Association of Nigeria, Aminu Gwadabe, were unsuccessful at the time of reporting