From AAminu Bala Madobi
Disputing the circulating rumours on X (formerly 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 recent reports on X indicating that the dollar is now being sold at N1,000 in Abuja.
According to a recent post on X, the exchange rate for the dollar at Zone 4 Abuja, near the Sheraton Hotel, is N1,000 – $1. Abdulsalam BDC offers a price of N900 for purchases exceeding $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.”
Nevertheless, our correspondent contacted “Abdusallam BDC” (Abubakar Abdusallam) on Tuesday in Abuja, and he refuted the claim of selling FX at the quoted price.
“Dollar is selling at N1300/$1, not N1000 or N900,” he said.
The central bank has set an expectation for them to refrain from selling above N1,269/$, which corresponds to a margin of N18.
A user, whose identity remains unknown, also discredited the rumour by stating that they were present at the location (Sheraton Hotel Zone 4) and no such transaction took place.
“I was at Zone 4 this morning, and there was nothing like that. This is fake news,” he said.
Efforts to obtain a statement from Aminu Gwadabe, the President of the Bureau De Change Association of Nigeria, were unsuccessful at the time of filing this report.
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