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Abuja Reports

JUST-IN: BDC Operators Debunk Claims of Dollar Hitting N900-N1,000 in Abuja

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Contrary to viral social media reports on Facebook and X alleging an exchange rate of between N900 and N1,000 for a US Dollar in Abuja on Wednesday, Bureau De Change (BDC) operators have refuted these claims as false.

The misinformation spread through posts on Facebook and X, asserting that the dollar was being sold at N1,000 in the Wuse Zone 4 district headquarters of the forex parallel market in Abuja.

The fabricated post circulated widely, stating, “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.”

Despite these claims, a visit by Abuja City Journal’s correspondent to Wuse Zone 4 in Abuja on Wednesday afternoon revealed a different reality. The actual exchange rate observed was $1 selling for N1,352 at the time of reporting.

Social media users reacted to the misinformation, with some mocking forex speculators and warning of consequences for hoarding the Dollar amidst the Naira’s purported appreciation against the foreign currency.

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Abuja Reports

Reps Seek Funding for Abuja Traditional Rulers

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By Ifeoluwa Odunayo

The House of Representatives has pledged to push for better funding and legal recognition for traditional rulers in the Federal Capital Territory (FCT).

Chairman of the House Committee on FCT Area Councils, Hon. Fredrick Agbedi, made this commitment during a meeting with the FCT Traditional Council in Abuja on Monday, March 24, 2025.

Agbedi praised the rulers for their role in maintaining peace, security, and cultural heritage, emphasizing that the committee would advocate for policy changes to ensure financial support.

He noted that lawmakers are considering a possible five percent allocation from Area Council funds to support the traditional institution.

He acknowledged that current laws do not provide direct funding for traditional rulers, but ongoing legislative efforts, including the Area Councils Administration Bill, could address this issue.

Speaking on behalf of the rulers, Alhaji Adamu Baba Yunusa lamented poor funding and the absence of a legal framework to support their operations.

Lawmakers also discussed the marginalization of FCT natives and the lack of proper resettlement plans, vowing to engage further in protecting the interests of traditional institutions in Abuja.

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Abuja Reports

FCT Teachers Resume Strike Over Unpaid Minimum Wage

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By Ifeoluwa Odunayo

Primary school teachers in the Federal Capital Territory (FCT) have resumed an indefinite strike over the non-implementation of the N70,000 minimum wage in their February salaries.

The Nigeria Union of Teachers (NUT), FCT chapter, announced the decision after an emergency meeting of its State Wing Standing Committee (SWSC) in Gwagwalada on Saturday, March 22.

The union expressed disappointment that Area Council Chairmen failed to honour their agreement to implement the new wage, which had led to the suspension of an earlier strike in February.

Teachers described the omission in their February salaries as disheartening.

NUT Chairman, Comrade Abdullahi Mohammed Shafas, stated that the union had called off its initial strike based on assurances that the wage increase would take effect in February. However, the failure to fulfill this promise left them with no choice but to resume the strike.

The teachers are demanding the immediate payment of the new minimum wage, arrears, and allowances, including a 40 percent peculiar allowance.

Parents have been advised to keep their children at home until further notice.

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Abuja Reports

EFCC Arrests 133 Suspects in Abuja Over Alleged Ponzi Scheme

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By Ifeoluwa Odunayo

The Economic and Financial Crimes Commission has arrested 133 individuals linked to an alleged Ponzi scheme operating under the name Q University, also known as Q Net, in Abuja.

The suspects were apprehended on Monday, March 24, 2025, at Compensation Layout in Gwagwalada, following credible intelligence.

According to investigators, the academy lured young Nigerians with promises of massive profits through a scheme branded “Special Training for New Generation Billionaires.”

Recruits were required to purchase forms titled “Independent Representative Application Form” and were encouraged with slogans like “I am a Champion” and “I am Unstoppable.”

The EFCC carried out the operation in collaboration with the 176 Guards Battalion of the Nigerian Army.

Items such as mobile phones, computers, and other electronic gadgets were seized from the suspects.

The anti graft agency confirmed that investigations are ongoing, and the suspects will be charged to court upon completion.

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