Bureau De Change (BDC) operators have refuted claims that the dollar is being sold at N1,000/$1.
News spread on social media platform X (previously Twitter) claiming a drastic drop in the dollar rate to N1,000 at the parallel market.
At Zone 4 Abuja near Sheraton Hotel, there were allegations of the dollar being sold at N1,000 with Abdulsalam BDC reportedly offering N900 for purchases exceeding $5,000.
There seems to be a rush to exchange dollars at Zone 4, with the parallel market trading the dollar at a rate lower than the official forex market.
However, Baba Isa Fagge, a BDC operator in Abuja, has denied these reports.
Fagge clarified, “The current selling rate is N1,280/$1 and not N1,000 as claimed,” when contacted by NewsNow.
Recently, the Central Bank of Nigeria (CBN) offered to sell $10,000 to each BDC operator at N1,251 per dollar.
The apex bank has issued warnings to BDCs against selling beyond N1,269/$1.