Tony Elumelu is optimistic of the new leadership at the Central Bank of Nigeria..

    Renowned billionaire entrepreneur and business tycoon Tony Elumelu has expressed his optimism that the recent change in leadership at the Central Bank of Nigeria will play a pivotal role in bolstering the naira.


    Elumelu emphasized that the current accumulation of dollars by individuals is primarily driven by a lack of confidence rather than an immediate need for the currency. He conveyed his confidence in the competence of the new central bank team, describing them as “very capable” and expressing his belief that they have the capacity to restore confidence in the Naira.

    In his capacity as the Chairman of United Bank for Africa Plc and as the largest shareholder of Transnational Corp. of Nigeria Plc, the nation’s largest conglomerate, Elumelu highlighted the prevailing sense of unease among Nigerians stemming from uncertainties about the future stability of the Naira.

    Elumelu concluded by underscoring the critical role of leadership, stating that the missing link in the equation has been poor leadership. He further emphasized that there is a considerable pool of global private capital actively seeking suitable investment destinations, presenting significant opportunities for Nigeria if the right conditions and confidence are established.

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