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.
