- FX Market ‘Totally Sorted’ Under Tinubu, Elumelu Declares
- Tinubu expressed satisfaction with ongoing efforts by financial institutions and other private sector players to strengthen entrepreneurship
- Elumelu revealed that President Tinubu specifically acknowledged the leadership of key financial institutions
Nigerian billionaire and Chairman of the United Bank for Africa (UBA), Tony Elumelu, has disclosed that President Bola Ahmed Tinubu commended the private sector for its continued support to small and medium-scale enterprises (SMEs) across the country.
Eko Hot Blog reports that Elumelu made this known while speaking to journalists after a meeting with the President at the State House on Friday.
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According to him, Tinubu expressed satisfaction with ongoing efforts by financial institutions and other private sector players to strengthen entrepreneurship and expand opportunities for small businesses.
He also stated that Nigeria’s foreign exchange market has stabilised significantly under the current administration, attributing the improvement to monetary reforms introduced by the Central Bank of Nigeria (CBN).
Elumelu noted that businesses are no longer burdened by the persistent challenges of accessing foreign exchange, which previously disrupted operations and planning.
“There was a time when most banking-related concerns were about how to access foreign exchange. Today, that is no longer the case. The FX market has been stabilised,” he said.
He added that the improved stability has restored predictability and confidence within the business environment, helping to strengthen economic activities nationwide.
Elumelu further revealed that President Tinubu specifically acknowledged the leadership of key financial institutions, urging them to intensify support for SMEs to drive inclusive economic growth.
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