Contrary to the report making the rounds on social media, 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 social media that dollar is now selling at N1,000 in Abuja.

The 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, our correspondent reached out to “Abdusallam BDC” (Abubakar Abdusallam) on Wednesday in Abuja, and he denied selling FX at the quoted price.

“Dollar is selling at 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 above N1,269/$, representing a margin of N18.

A social media 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.

ednut1:
Dollar is dropping. Why are prices not dropping?

ednut1:
Dollar is dropping. Why are prices not dropping?

socialmediaman:
Propaganda is the hallmark of this government!

lastkingsman:


Why would prices drop?

This dollar rate needs to be sustain for 6 weeks+ before price start dropping.

Import did imports and sold it previous rate and you want vendors/traders to take the loss?

socialmediaman:
Propaganda is the hallmark of this government!

If after lying to you for 8 years that Buhari was doing well, they came back again claiming that Tinubu was cleaning up Buhari’s mess, and you still believe anything from them without demanding to see the evidence, just go and collect your certificate, you’re as a certified zombie

End of Story!

ednut1:
Dollar is dropping. Why are prices not dropping?

Paraman:
Tinubu is doing absolutely well. Naira is gaining against the dollar, pounds and euro. Inflation will start falling in may, the refinery will soon start working... so Tinubu is doing a very good job

In

Omihanifa:
How can any sensible person believe dollar is selling for 1000 naira at the parallel market when CBN is selling to them at the rate of 1251

Ask yourself if the BDC guys are in business for profit or loss

Person buy something at the rate of 1251, will he now sell it at 1k?

socialmediaman:


The same lies. The same propaganda.

Take the naira back to where you met it, then you can celebrate any gain from that point. Nigerians will not eat lies

This government and the people running it have caused untold hardship and suffering on Nigerians since 2015

socialmediaman:


The same lies. The same propaganda.

Take the naira back to where you met it, then you can celebrate any gain from that point. Nigerians will not eat lies

Tallesty1:
And the devil's anus and few others were busy calling anyone who dared to question the authenticity of the previous news a hater.

Look, it is really sad when some people think if you criticize or disagree with Tinubu and APC, you automatically hate them or the country. Look, it's normal to question stuff – it's how we improve things. Being loyal doesn't mean you can't speak up when things aren't right. We should encourage open discussions and not shut down different opinions with accusations of hatred. We need to understand that it's okay to disagree without it meaning we're enemies. Let's keep it real and have conversations that move us forward.

JohnAOne:
I immediately changed £1280.20 (about $1689.80) on Monday when CBN was selling to BDC at 1251.

$ was 1443.18 when I changed, now $ is about 1300.

If I didn't act, I would have lost more than 150k

Dem no dey tell person!

If you like (at this point in time ⏳) continue to hoard...

ednut1:
vendors had not restocked but they immediately increased price for old stock. Now it has reduced they should reduce too