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Nigerian billionaire and Chairman of the United Bank for Africa, Tony Elumelu, has explained that President Bola Ahmed Tinubu said he liked what the private sector is doing to support small- and medium-scale entrepreneurs in the country.
Elumelu spoke to journalists at the state house after meeting with Tinubu on Friday.
He explained that the foreign exchange market in Nigeria has been “totally sorted” under President Tinubu’s administration with the monetary policy driven by the Central Bank of Nigeria.
According to him, businesses are no longer plagued by the difficulties that once characterized access to dollars, which has brought predictability and stability to the Nigerian economy.
“There was a time before when if I got 10 calls on banking issues, seven of those calls were about how to access foreign exchange.
“Today, if you get 10 calls on banking issues, not even one is on FX. That market is totally sorted,” he said.
“He even called the name of the CEO, that he likes what is going on, and he wants them to do more to support small and medium-scale entrepreneurs in the country,” Elumelu added.
