The Central Bank of Nigeria (CBN) has refuted rumors circulating about its purported sale of foreign exchange (FX) to Bureau de Change (BDC) operators at the rate of N1,001/$1. In a statement released on Thursday, the apex bank categorically denied the authenticity of a circular falsely alleging such transactions.

The fraudulent circular, which surfaced on various platforms, claimed that the CBN had authorized the sale of $10,000 to BDCs at the rate of N1,001/$1. It further outlined directives for BDCs to sell to eligible end customers with a maximum margin of 1.5% above the buying cost.

However, the CBN swiftly dispelled these claims, emphasizing that the circular is spurious and does not originate from official channels. The bank cautioned the public to disregard such misinformation and advised Nigerians to rely on its official website for accurate and reliable information.

In light of recent currency market dynamics, the CBN’s clarification comes amidst reports of a strengthened naira value, with midday trading on Monday, April 15, indicating a positive trend. Traders anticipated another round of dollar sales to BDC operators from the CBN, which contributed to the naira’s improved performance.

Additionally, the Association of Bureau de Change Operators of Nigeria (ABCON) addressed rumors surrounding the alleged shutdown of forex operations by Abuja-based BDCs. ABCON President Aminu Gwadabe clarified that the information regarding the closure was erroneous and did not originate from the national or zonal offices of the association.

As misinformation continues to proliferate, the CBN’s swift response underscores the importance of vigilance in verifying sources and relying on official channels for accurate updates on economic matters.

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