In a powerful testament to Nigeria's evolving economic landscape, prominent businessman Femi Otedola has publicly praised President Bola Ahmed Tinubu and Central Bank Governor Yemi Cardoso for their transformative policy initiatives.

Otedola, a veteran investor with over three decades of experience, highlighted the remarkable progress in Nigeria's monetary and banking sectors, particularly commending the recent successful N500 billion capital raise by FirstBank.

The business leader specifically emphasized President Tinubu's bold leadership, noting that his comprehensive understanding of the national economy has created a foundation for policies gaining international recognition. Otedola described Tinubu's approach as courageous and strategically clear, marking a significant departure from previous administrative approaches.

Central Bank Governor Yemi Cardoso received equally strong praise, with Otedola highlighting tangible economic improvements. The slowing inflation rate and strengthening naira are direct results of Cardoso's disciplined return to orthodox monetary policy, according to Otedola. Notably, external reserves have climbed to a seven-year high, surpassing $46 billion, which Otedola sees as compelling evidence of effective economic management.

FirstBank's achievement of meeting the N500 billion minimum capital requirement for an international banking license was another focal point of Otedola's commentary. He suggested that the banking sector's recapitalization, though initially criticized, has proven to be a strategically sound decision.

Looking forward, Otedola proposed raising the minimum capital requirement for international banking licenses from N500 billion to N1 trillion. His rationale stems from a belief that a modern economy targeting $1 trillion cannot rely on weakly capitalized financial institutions.

The business leader concluded with a robust endorsement of Cardoso, calling him 'the best Central Bank Governor Nigeria has ever produced' and encouraging continued bold monetary reforms that will strengthen the nation's economic foundation.

As Nigeria turns a critical economic corner, voices like Otedola's provide both insider perspective and optimistic momentum for the country's ongoing transformation.