If you have heard about the crash of the dollar exchange rate to the naira in the black market, please do not be on your way in a hurry to the Bureau De Change operator’s office.

Because you may be in for a rude shock.

However, many people want the exchange rate to come down like yesterday because the current rate negatively affects their businesses.


Yet, speculations and rumours may not be the solutions.

Dollar Not Selling At N1,000/$1 - BDC Operators Speaks

Bureau De Change operators have debunked the report making rounds that the dollar is now selling at ₦‎1,000 at the parallel market.

Have You Read: Are You Playing? Naira To Dollar Rate Won’t Drop To ₦400 -Moghalu

There have been claims on the social media space that dollars are now selling at ₦‎1,000 in Abuja.

The post on X formerly known as Twitter reads thus:

“This morning, at Zone 4 Abuja, along the Sheraton Hotel, the dollar is selling at ₦‎1,000 – $1. Abdulsalam BDC is selling ₦‎900 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 “Abdusallam BDC” (Abubakar Abdusallam) has denied selling FX at the quoted price.

He said, “Dollar is selling at ₦‎‎1300/$1, not ₦‎1000 or ₦‎900.”

Recently, the Central Bank of Nigeria offered to sell $10,000 to each BDC operator at ₦‎1,251/$.

The apex bank expects them not to sell above ₦‎1,269/$, representing a margin of ₦‎18.

An X user, whose real name could not be ascertained, also debunked the rumour, stating that there was no such transaction.

He said, “I was at Zone 4 this morning, and there was nothing like that. This is fake news.”

Unfortunately, those peddling this fake news do not know how injurious it is to the health of the nation and its economy.

Fake news such as this can lead to chaos and distrust in the government’s effort to see the economy rise again.

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The government has promised that the economy will rise again and the Central Bank is doing so much to make that happen

The onus falls on all Nigerians to give them the needed support without causing any unnecessary problems for themselves.


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