The leading champion of entrepreneurship in Africa and business magnate, Tony Elumelu has expressed confidence that the recent change in the leadership of the Central Bank of Nigeria (CBN) will play a pivotal role in boosting Naira.
He noted that accumulation of dollars by the people is as a result of their lack of confidence.
According to the business magnate, “the reason people are accumulating dollars is not because they need it now; it is because of a lack of confidence.”
He expressed his optimism in the capabilities of the new Central Bank team, “very capable and will be able to bring confidence.”
Elumelu, who serves as the Chairman of United Bank for Africa Plc and is the largest shareholder of Transnational Corp. of Nigeria Plc, the country’s largest conglomerate, noted that there is a palpable sense of anxiety among Nigerians due to uncertainty regarding the future stability of the naira.
“The missing link has been poor leadership, and I believe that we all know there’s so much private global capital seeking the right investment destination.”
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