President Bola Tinubu had a crucial meeting with influential members of the private sector on Sunday at the Presidential Villa in Abuja.
The gathering was attended by prominent figures like Alhaji Aliko Dangote, Tony Elumelu, Abdulsamad Rabiu, Wale Tinubu, and other notable individuals from various industries.
The meeting comes at a critical juncture as Nigeria grapples with economic challenges impacting its citizens. The recent surge in the exchange rate, particularly the depreciation of the naira against the US dollar, has exacerbated the hardship faced by Nigerians.
According to FMDQ data, the naira experienced a significant decline, reaching N1,665.50 per US dollar by the end of Friday’s trading session, compared to N1,571.31 the previous day.
In response to these economic pressures, the Central Bank of Nigeria has proposed new guidelines aimed at regulating Bureau de Change (BDC) operations. These measures include prohibiting street trading and implementing stricter capital requirements for registration.