President Bola Tinubu convened a pivotal meeting with key members of the organized private sector on Sunday at the Presidential Villa in Abuja. Among the notable attendees were Alhaji Aliko Dangote, the President of Dangote Groups; Tony Elumelu, Chairman of Heirs Holding and Transcorp Plc; Abdulsamad Rabiu, Chairman of BUA Group; Wale Tinubu, and other prominent figures from the private sector.

The meeting took place against the backdrop of the economic challenges facing Nigerians, particularly the hardship resulting from the surge in the exchange rate of the US dollar to the naira. Recent data from FMDQ revealed that the naira depreciated to N1,665.50 per US dollar at the close of business on Friday, up from N1,571.31 on Thursday.

In response to the economic concerns, the Central Bank of Nigeria announced comprehensive guidelines, implementing sweeping policy changes for Bureau de Change (BDCs). These measures include a ban on street trading and the introduction of a new per capital share requirement for registration.

The urgency of this high-profile meeting and its participants suggests a collective effort to address and navigate the economic challenges currently impacting the nation. As the private sector and government collaborate, the outcomes of this crucial gathering may play a significant role in shaping economic policies and strategies moving forward.

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