Nigerian entrepreneur and Chairman of Heirs Holdings, Tony Elumelu, has declared that Nigeria’s international change disaster is over, stating that the FX market has now been stabilised.
Elumelu made the remarks on Friday, February 13, 2026, whereas addressing State Home correspondents after a gathering with President Bola Tinubu on the Presidential Villa in Abuja.
In line with him, companies now not face the extreme international change entry constraints that beforehand disrupted operations, noting that reforms launched by the Central Bank of Nigeria (CBN) have restored predictability and stability to the financial system.
Elumelu recommended President Tinubu for creating the enabling surroundings for the CBN Governor and his group to implement financial reforms.
Past international change, Elumelu additionally highlighted ongoing discussions round electrical energy sector reforms. He stated President Tinubu is dedicated to bettering entry to energy by accelerating the settlement of excellent money owed owed to power-generating firms.
Elumelu’s feedback sign rising confidence amongst enterprise leaders concerning the soundness of Nigeria’s international change market.
Improved entry to foreign exchange allows companies to:
A extra steady foreign exchange surroundings additionally helps macroeconomic stability by decreasing speculative strain on the naira, curbing inflationary pass-through from change charge volatility, and bettering planning certainty for companies.
Enhanced liquidity within the FX market also can strengthen international direct funding (FDI) inflows, as traders acquire confidence of their skill to entry and repatriate funds.
In a associated improvement, the CBN not too long ago permitted the participation of licensed Bureau De Change (BDC) operators within the Nigerian International Trade Market (NFEM), permitting every BDC to buy as much as $150,000 weekly.
The apex {bank} stated duly licensed BDCs might supply FX by way of authorised supplier banks at prevailing market charges, topic to strict Know Your Buyer (KYC) and due diligence necessities.
The transfer comes amid efforts to slim the hole between official and parallel market charges and deepen liquidity within the FX market as a part of broader financial reforms.
