President Bola Tinubu said that the changes his government has made are already showing results. He claimed that corruption in Nigeria’s foreign exchange market has been removed and that honest businesses can now thrive in the economy.

Speaking at a press conference with Brazilian President Luiz Inácio Lula da Silva in Brasília, Tinubu explained that the Central Bank of Nigeria (CBN) now works transparently. Investors can access foreign currency without needing personal connections.

Tinubu said the reforms were difficult at first, but they are now producing positive results. “The economy has more money, and corruption is being removed,” he said.

He added that investors do not need to know the CBN governor personally to get foreign exchange. Speculators have been removed from the market, and real businesses now have open opportunities.

The President is currently on a two-day official visit to Brazil, discussing ways to strengthen economic cooperation between the two countries.