Tony O. Elumelu, Chairman of the United Bank of Africa (UBA), has clocked 63. The Plateau-born financial expert ascended the steps of endurance and dedication till he reached the pinnacle. Elumelu began as a salesman and is now the head of one of Nigeria’s leading commercial banks.
As he enters another year, many Nigerians, including President Bola Tinubu, have heaped praise on the bank’s CEO, characterizing him as a solid pillar in Nigeria’s financial system.
President Tinubu, while honoring Tony Elumelu’s birthday, lauded him as an African business legend and a strong advocate of entrepreneurship growth across the continent.
According to Tinubu, Elumelu’s resilience, commitment to excellence, and strong belief in Africapitalism, a philosophy that stresses private sector-driven economic growth and long-term investments in Africa.
The President also highlighted the Tony Elumelu Foundation’s entrepreneurship initiative, which has trained over 2.5 million young Africans in 54 countries and provided $5,000 in non-refundable startup cash to over 24,000 companies.
32 things you probably did not know about Tony Elumelu, UBA chief
He was born on 22nd March 1963
He was born in Jos, Plateau, Nigeria
His parents namely; Suzanne and Dominic Elumelu, originally an Igbo man from Onicha-Ukwu in Aniocha North Local Government Area of Delta State
He grew up with four siblings
He attended Government Secondary School, Jos
He studied Economics at Ambrose Alli University, obtaining a Bachelor of Science with a Lower Second Class (2:2)
He then obtained a Master of Science degree in Economics from the University of Lagos
He reportedly attended University of London, where he later obtained a Master’s degree in Banking and Finance
During his National Youth Service Corps in 1985, he worked as a corps member at Nigerian Bank Union Bank before beginning his career as a salesperson
He then joined Allstates Trust Bank in 2005, and United Bank for Africa (UBA) was later purchased
In 1997, he gathered a small group of investors to take over troubled Crystal Bank (later renamed Standard Trust Bank)
In 2005, he spearheaded one of the largest banking mergers in Sub-Saharan Africa by acquiring United Bank for Africa (UBA).
Following the merger of Standard Trust Bank and United Bank for Africa in 2005, he guided the company as its group managing director from a single-country banking group to a pan-African bank with subsidiaries in 20 African nations, France, the United States, and the United Kingdom.
Elumelu currently chairs the board of the United Bank for Africa
In 2010, he founded Heirs Holdings, his family-owned investment holding company.
He also established in the same year the Tony Elumelu Foundation, an Africa-based foundation championing entrepreneurship in Africa
Heirs Holdings maintains a portfolio of investments across several sectors
Through Heirs Holdings, Elumelu holds a controlling interest in Transnational Corporation, a diversified conglomerate with business interests in Power, Hospitality and Energy
On 14 April 2021, he was officially given the Certificate of Discharge of the iconic hospitality facility
The National Council on Privatisation (NCP), which is chaired by the former Vice President of Nigeria Prof. Yemi Osinbajo, handed over full ownership of Transcorp Hotels to the chairman after fulfilling all privatization conditions attached to the sale of the property in 2005
Elumelu currently chairs the board of the United Bank for Africa.
In 2010, he founded Heirs Holdings, his family-owned investment holding company
He also established in the same year the Tony Elumelu Foundation, an Africa-based foundation championing entrepreneurship in Africa
On 14 April 2021, Elumelu was officially given the Certificate of Discharge of the iconic hospitality facility
The National Council on Privatisation (NCP), which is chaired by the former Vice President of Nigeria Prof. Yemi Osinbajo, handed over full ownership of Transcorp Hotels to the chairman after fulfilling all privatization conditions attached to the sale of the property in 2005
Following his retirement from United Bank for Africa in 2010, Elumelu founded The Tony Elumelu Foundation, which promotes entrepreneurship in Africa
In 2015, Elumelu committed $100 million to create 10,000 entrepreneurs across Africa over the next 10 years through the Tony Elumelu Foundation Entrepreneurship Programme
In 2003, the Federal Government of Nigeria granted Elumelu the title of Member of the Order of the Federal Republic MFR, a national honour
In 2012, he was awarded the National Honour of Commander of the Order of the Niger CON for his service in promoting private enterprise
Bayero University Kano (BUK) gave him an honorary Doctor of Business degree in 2019
In 2020, the Kingdom of Belgium conferred the honorary distinction of Officer in the Order of Leopold, the country’s oldest and most important national honour, on Elumelu
On 11 October 2022, Elumelu received the national honour of Commander of the Order of the Federal Republic
