Bank of America applauds Tinubu's moves

Bank of America's President of International, Bernard Mensah, paid a visit to President Bola Tinubu on Tuesday, July 4, 2023. During the meeting held at the Presidential Villa in Abuja, Mensah expressed his enthusiasm for the early measures taken by President Tinubu to enhance the nation's economy.

Accompanied by a delegation from the Bank of America, Mensah conveyed their admiration for the initial steps taken by the Tinubu administration in a bid to improve the country's economic landscape.

The delegation further extended their support to President Tinubu's government, offering their expertise in advancing the market, fostering partnerships in new technological applications, addressing climate change, and deploying global resources to Nigeria. The aim is to enable Nigeria to assert itself on the global stage in these critical areas.

"We are thrilled with the new government and the prompt decisions they have made," Mensah shared. "We are keen to explore avenues for collaboration. Bank of America possesses substantial global resources that we believe can be instrumental in bolstering the Nigerian economy. We are committed to assisting in various aspects, such as market evaluation, financial architecture, technology applications, and the ongoing global discourse on climate change."

The Bank of America delegation comprised Bernard Mensah, the President International of Sub-Saharan Africa, along with Yvonne Ike Fasiro, the Head of Sub-Saharan Africa, and Chuba Ezenwa, the Head of Investment Banking in Sub-Saharan Africa.

Meanwhile, Wale Edun, the Special Adviser to the President on Monetary Policy, also acknowledged the Bank of America team's observations. They highlighted that Nigerians possess the necessary financing and liquidity required in foreign exchange. According to the Bank of America, Nigerian savings alone are sufficient to drive the nation's economy, boost employment rates, and alleviate poverty.

Consequently, Edun affirmed that the Federal Government will carefully review these observations. Recognising that the pursuit of economic improvement is an ongoing process, the government aims to develop comprehensive plans to fortify the nation's economic policies and ensure sustainable progress.