Accomplish Magazine January 2024

COVER
By Harry Choms
Renowned as a luminary figure in Economics, entrepreneurship, and
philanthropy, Anthony Onyemaechi Elumelu, or Tony Elumelu, stands as a
beacon of success and inspiration. Born on 22nd March, 1963, in Jos, Plateau
State, Nigeria, Elumelu’s roots trace back to the vibrant Onicha-Ukwu in Aniocha
North Local Government Area of Delta State. What sets Tony Elumelu apart is his
birth place and transformative impact through the Tony Elumelu Entrepreneurship
Programme, a flagship initiative under The Tony Elumelu Foundation. Each year,
the doors of opportunity swing open as the Tony Elumelu Foundation invites
visionary entrepreneurs across Africa to be part of a life-altering experience.
Beyond the accolades, Elumelu’s financial prowess is nothing short of
legendary, catapulting him into the elite billionaire’s club. His wealth is a
testament to his strategic investments, notably holding a commanding stake in
Transcorp, a powerhouse conglomerate trading on the Nigerian stock exchange.
Transcorp’s diverse interests span agriculture, power generation, oil production,
and hospitality.
Early Life and
Education
Born on March 22, 1963, in Jos,
Nigeria, Anthony Onyemaechi
Elumelu, widely known as Tony
Elumelu, is a distinguished figure
associated with excellence,
investment, and philanthropy
across the African continent.
Growing up in a family of six,
including his brother, Ndudi
Elumelu, the current minority
leader in the Nigerian Federal
House of Representatives, his
parents, Dominic Elumelu and
Suzanne Elumelu, earned a
sterling reputation for their
ethical business practices in the
Nigerian business landscape.
Personal Life
Tony Elumelu, a prominent
investor, businessman, and
philanthropist, has been
happily married to Dr. Awele
Vivian Elumelu since 1993. They
are proud parents to seven
children, each uniquely named,
including Oge Elumelu, Ogor
Elumelu, Onyinye Elumelu, Ugo
Elumelu, Nneka Elumelu, and
two others. Dr. Awele Vivian
Elumelu holds dual leadership
positions in healthcare, chairing
Avon Medical Practice Limited
and Avon Healthcare Limited
while overseeing healthcare
investments at Heirs Holdings.
Her expertise, backed by
a Bachelor of Medicine and
Bachelor of Surgery degree from
the esteemed University of Benin,
makes her an invaluable asset to
the organisations she serves.
Career
In 1985, a young Tony Elumelu
began his career as a Youth
Corps member at the Nigerian
bank, Union Bank Plc. He then
went on to work for Allstates Trust
Bank Ltd., where his unrivalled
talent and tireless work ethic
propelled him quickly up the
ranks.
Tony Elumelu made his first
major move in the banking
industry in 1997 when he
purchased Crystal Bank and
successfully turned it into a
profitable entity. This set the
stage for one of the most
remarkable moments in sub-
Saharan Africa’s banking
industry when he led the merger
of Standard Trust Bank and
United Bank for Africa (UBA) in
2005 to form a pan-African bank
with subsidiaries in 20 African
countries, France, the United
States, and the United Kingdom.
Tony Elumelu was the Group
Managing Director of Standard
Trust Bank and UBA, where
his visionary leadership
and financial acumen were
instrumental in leading the
merged entity to unprecedented
success before retiring in 2010 to
pursue new ventures.
Heirs Holdings, an investment
holding company with a diverse
portfolio of investments across
multiple sectors, was founded in
2010. Tony Elumelu, a champion
of African entrepreneurship, also
established the Tony Elumelu
8 | Accomplish Magazine