ELUMELU, Tony (MFR) (CON)

Born 22 March 1963
in

Jos, Plateau State

ELUMELU,

Tony

Onyemaechi

Elumelu studied Economics at Bendel State University (now Ambrose Alli University), obtaining a Bachelor of Science with a Lower Second Class (2:2). Afterward, obtained a Master of Science degree in Economics from the University of Lagos

Tony Elumelu worked in the Nigerian veteran Bank, Union Bank as a Youth Corp member during his National Youth Service Corps in 1985, before starting his career as a salesman. He came into the limelight in 1997 when he led a small group of investors to take over a small, floundering commercial bank in Lagos. He turned it profitable within a few years and in 2005 he merged it with the United Bank for Africa. Tony became a bank chief executive at the age of 34, one of the youngest in the industry at that time. Upon retiring in 2010 from the United Bank for Africa after the Central Bank of Nigeria’s directives limiting bank chiefs to 10 years, he founded Heirs Holdings
Gender: Male
Name of Spouse Dr. Vivien Awele Elumelu (nee Ogbue), 1993
State of Origin: Delta State.
Father's Name Dominic Elumelu
Mother's Name Suzanne Elumelu
Number of Male Children 2
Number of Female Children 5

7 children

Profession Banker , Economist , Administrator
Working Experience Operations and Foreign Exchange Department, Union Bank of Nigeria Pic, 1985-86 , Financial Analyst, All States Trust Bank, 1988, Head, Energy/Export Unit, All States Trust Bank Limited, 1989-90, Head, Multinational Unit, Head Office, All States Trust Bank Limited, 1990, Port Harcourt Branch Manager, All States Trust Bank Limited, 1990-92, Port Harcourt Area Manager, All States Trust Bank Limited, 1992-94, Head, Corporate Banking/Head of Office Branch, All States Trust Bank Limited, 1994- 95, , Executive Director, Linkage Assurance Company Limited, 1995 , Executive Director/CEO, Merchant Bank of Commerce Ltd, 1995-97 , Managing Director/CEO, Standard Trust Bank ltd, 1997-2005 , Group Managing Director, United Bank for Africa, 2005-2010 , Director, Central Securities Clearing System Ltd , Trustee, Infant Jesus Academy in Delta State, Nigeria , Advisor, USAID's Private Capital Group for Africa (PCGA) Partners Forum. , Vice-Chairman, National Competitiveness Council of Nigeria (NCCN) , Co-Chair, Aspen Institute Dialogue Series on Global Food Security , Co-Chair, 26th World Economic Forum on Africa in Kigali, Rwanda, from 11 to 13 May 2016 , Co-Chair, Africa Energy Leaders' Group (AELG) , Involved in the Tony Blair Africa Governance Initiative (AGI) under the partnership of the Blair-Elumelu Fellowship Programme , Chairman, Heirs Alliance Limited, Global Payments Services Limited, XL Logistics Company Limited , Chairman, TransCorp Hilton Hotel, 2005- , Non Executive Director, Africa Finance Corporation since May 16, 2007 - December 12, 2016 , Director, The Corporate Council on Africa, May 2, 2013- , Non-Executive Director, BGL Limited, Standard Alliance Insurance Company Limited, Flame Petroleum and Gas Limited and BGL Securities Limited

Chairman, Heirs Holdings, 2010- till date; Founder, The Tony Elumelu Foundation, 2010- till date; Chairman, Transnational Corporation of Nigeria Plc (Transcorp), 2011- till date; Chairman, United Bank of Africa, August 2014- till date.

-West African Bankers Association, Nigeria Chapter;
-Chairman, Board of Directors, ValuCard Nigeria Plc, 2005-;
-Chairman, Board of Directors, Capital Leisure & Hospitality Ltd. (a subsidiary of Transnational Corporation Ltd. (Transcorp), 2005-;
-Member, Financial Institutions Training Center;
-Member, Presidential Committee of the Heart of Africa (Nigeria Image) Project;
-Member, Presidential Committee on Consumer Finance Scheme;
-Member, Presidential Committee on Outsourcing;
-Member, Presidential Committee on NEPAD;
-Member, Nigerian President’s Agricultural Transformation Implementation Council (ATIC);
-Member, Global Advisory Board of the United Nations Sustainable Energy for All Initiative (SE4ALL);
-Member, World Economic Forum’s Regional Agenda Council on Africa;
-Member, Bretton Woods Committee;
-Fellow, Nigeria Leadership Initiative (NLI);

Bendel State University ( Ambrose Alli University), 1981- 85; University of Lagos, 1986-87; Harvard Business School
N/A

• 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.
• He was awarded the Daily Times, Nigerian man of the year in 2016.
• In 2018 and 2019 he was awarded the All-Africa Business Leaders Awards (AABLA) Philanthropist of the Year Award
• Bayero University Kano (BUK) – Honorary Doctor of Business degree in 2019
• He was honored with the National Productivity Order of Merit Award in 2019.
• TIME magazine’s 100 Most Influential People of 2020.
• On 11 October 2022, Elumelu received the National honour of Commander of the Order of the Federal Republic.

-African Business Leader of The Year by Africa Investor magazine, 2008;
-African Banker of the Year by African Banker magazine, 2008;
-Africa’s 20 Most Powerful People by Forbes magazine, 2012;
-“100 Most Influential Africans in Business”;
-Leadership Award in Business and Philanthropy from the Africa-America Institute (AAI) Awards;
-African Business Icon at the 2013 African Business Awards;
-ESI-AFRICA “ESI Most Influential Figures in African Power” ;
– Lifetime Achievement Award, presented at the 5th edition of the annual Economic Forum of the Ivorian National Council of Employers, CGECI Academy, (CGECI) in Abidjan, 2016

Tony Elemelu has written about his philosophy and the economic development of Africa for several publications around the world including The Economist, The Wall Street Journal and The Financial Times; and a book titled “The Power of Vision: Insights on TONY ELUMELU”

-Honorary Doctorate of Science Degree from Benue State University .
-Honorary Doctorate of Business Administration from the University of Nigeria, Nsukka

When my wife and I created the Tony Elumelu Foundation in 2010, we aimed to empower and improve young lives in a catalytic fashion, in a manner that helps Africa to develop from within. We believe that no one but us will develop Africa. We know where the shoe pinches us and how it feels. Thirteen years later, we are so excited to see these young Africans that we’ve supported over the years – how energetic they are, and how excited they are to contribute their own quota in helping to change and improve lives on the continent.

(below is culled from http://www.heirsholdings.com/tonyelumelu/profile/ )
Tony is known for his significant contribution to entrepreneurship in Africa. In 2010, he created The Tony Elumelu Foundation, which has committed $100m in a 10-year programme to fund, mentor and train 10,000 African entrepreneurs. The Foundation’s mission is inspired by Tony’s economic philosophy of Africapitalism, which positions the private sector as the key enabler of economic and social wealth creation in Africa.

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