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Tony Elumelu: Times Recognised Influential Person

Published

6 years ago

September 25, 2020

Eric

By Eric Elezuo

“On behalf of our Advisory Board, staff, our 9,360 beneficiaries, and all well-wishers, we congratulate our Founder, Tony Elumelu, as well as all other laureates on this well-deserved honour.”

It was no surprise when the business world woke to the news that the Chairman, United Bank for Africa and Tony Elumelu Foundation (TEF), Tony Elumelu, has been recognised on the Times 100 List of Most Influential People in the World. He was named among only three other Africans on the list.

Elumelu’s recognition comes on the heels of the his Foundation’s 10th Anniversary slated for November. it would be recalled that in 2011 and 2012, he was listed by New African Magazine as one the 100 most influential people in Africa and Africa’s 20 Most Powerful People by Forbes Magazine, respectively.

His recognition, according to a statement released by the Tony Elumelu Foundation, is in honour of the worthy entrepreneur’s commitment to empowering a new generation of African entrepreneurs, catalysing economic growth, driving poverty eradication and ensuring job creation across all 54 African countries, through his work at the Tony Elumelu Foundation.

Vintage Tony Elumelu is the Chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation. A Nigerian national honours holder, the Commander of the Order of Nigeria (CON), and Member of the Order of the Federal Republic (MFR). It worth noting that Tony successfully held the fourth edition of his annual Tony Elumelu Foundation Entrepreneurial Forum with about 54 African countries participating.

Born Tony Onyemaechi Elumelu on March 22, 1963, in Jos, Nigeria, the economist by training, visionary entrepreneur and philanthropist, acquired and turned Standard Trust Bank into a top-five player in Nigeria. In 2005, his corporate reputation as an African business leader was sealed when he led the largest merger in the banking sector in Sub-Saharan Africa to acquire United Bank for Africa (UBA). In five years, he transformed it from a single-country bank to a pan-African institution with over seven million customers in nineteen African countries.

In 2011, New African magazine listed him as one of the 100 most influential people in Africa, and a year later (2012), he was recognised as one of “Africa’s 20 Most Powerful People” by Forbes Magazine.

Following his retirement from UBA in 2010, Elumelu founded Heirs Holdings, which invests in the financial services, energy, real estate and hospitality, agribusiness, and healthcare sectors. In the same year, he established the Tony Elumelu Foundation, an Africa-based and African-funded philanthropic organisation dedicated to the promotion of excellence in business leadership and entrepreneurship, and to enhancing the competitiveness of the private sector across Africa.

His stated objective at the formation of Tony Elumelu Foundation was to “prove that the African private sector can itself be the primary generator of economic development.” The Foundation is charged with the mission of driving Africa’s economic development by enhancing the competitiveness of the African private sector. As a premier pan-African-focused not-for-profit institution, the Tony Elumelu Foundation is dedicated to the promotion and celebration of entrepreneurship and excellence in business leadership across the continent, with initiatives like The Tony Elumelu Entrepreneurship Programme (TEEP)

In a bid to expand his conglomerate as well as his business horizon, in 2011, through Heirs Holdings, he acquired a controlling interest in the Transnational Corporation of Nigeria Plc (Transcorp), a publicly quoted conglomerate that has business interests in the agribusiness, energy, and hospitality sectors. Elumelu was subsequently appointed chairman of the corporation.

Chairman, UBA Mr Tony Elumelu address the AGM

His enterprise is not limited to self financed enterprises as he serves as an advisor to the USAID’s Private Capital Group for Africa (PCGA) Partners Forum. He also sits on the Nigerian President’s Agricultural Transformation Implementation Council (ATIC). He is also vice-chairman of the National Competitiveness Council of Nigeria (NCCN) whose formation he was a key driver in, and serves as Co-Chair of the Aspen Institute Dialogue Series on Global Food Security.

Elumelu additionally chairs the Ministerial Committee to establish world-class hospitals and diagnostic centres across Nigeria, at the invitation of the Federal Government and the Presidential Jobs Board, engineered to create 3 million jobs in one year. He also serves as a member of the Global Advisory Board of the United Nations Sustainable Energy for All Initiative (SE4ALL) and USAID’s Private Capital Group for Africa Partners Forum.

One will not be wrong to address him as a philosopher as well as he is the originator of the term Africapitalism. According to him, Africapitalism is an economic philosophy that embodies the private sector’s commitment to the economic transformation of Africa through long-term investments that create both economic prosperity and social wealth. Elumelu sees Africans taking charge of the value-adding sectors and ensuring that those value-added processes happen in Africa, not through nationalisation or government policies, but because there is a generation of private sector entrepreneurs who have the vision, the tools and the opportunity to shape the destiny of the continent. He insists that Africapitalism is not capitalism with an African twist; it is a rallying cry for empowering the private sector to drive Africa’s economic and social growth.

Having studied under Professor Michael Porter at Harvard Business School, Elumelu subscribes to Porter’s concept of Creating Shared Value (CSV). Professor Porter is the Founding Patron of The Tony Elumelu Foundation. In the same vein, CSV refers to the idea that “companies must take the lead in bringing business and society back together.” It asserts that “businesses acting as businesses, not as charitable donors, are the most powerful force for addressing the pressing issues (society) face(s).”

In 2003, the Federal Government of Nigeria granted Tony Elumelu the title of Member of the Order of the Federal Republic (MFR), a national honour, and in 2006, he was voted African Business Leader of The Year by the Africa Investor magazine and was also recognised as African Banker of the Year in 2008 by the African Banker magazine. In 2009, the Nigerian President Umaru Musa Yar’adua honoured him with a place on the Presidential Committee on the Global Financial Crisis.

In 2012, he was awarded the prestigious National Honour of Commander of the Order of the Niger (CON) for his service in promoting private enterprise. Apart from being recognised as one of “Africa’s 20 Most Powerful People in 2012” by Forbes Magazine as well as being featured in the New African Magazine’s list of the “100 Most Influential Africans in Business”. He was awarded an honorary Doctorate of Science degree from the Benue State University and an honorary Doctorate of Business Administration from the University of Nigeria, Nsukka.

In 2013, Elumelu received the Leadership Award in Business and Philanthropy from the Africa-America Institute (AAI) Awards. He was also named African Business Icon at the 2013 African Business Awards.

In addition, ESI-Africa, frequently described as “Africa’s power journal”, named Elumelu in its 2015 ‘ESI Most Influential Figures in African Power’ list, in January 2015.

Elumelu is not just a financial wizard; he also writes as well as provides incredible inspiration to writers. Some works that involves him include:

How to Excel at Work – Proven strategies for achieving superior work performance by Bili A. Odum – a book inspired by Elumelu’s work ethics.

Elumelu has contributed to the Nigeria Leadership Initiative White Papers, writing on Leveraging private sector approaches in transforming government delivery.

The Power of Vision: Insights on Tony Elumelu is a testimonial compiled on the occasion of his retirement as Group Managing Director/Chief Executive Officer at the United Bank for Africa. It contains messages from Aliko Dangote, former Nigerian President Olusegun Obasanjo, Professor Michael Porter, former World Bank managing director and Nigeria’s Minister of Finance, Ngozi Okonjo-Iweala, President of Sierra Leone; Ernest Bai Koroma, former United States Comptroller of the Currency, Eugene Ludwig and Sanusi Lamido Sanusi, former Governor of the Central Bank of Nigeria.

He 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 Financial Times.

The TOE Way: A handbook that offers insights into Elumelu’s philosophies, business practices, values and secrets of success, written by the man himself.

Tony Elumelu is happily married to Awele Vivian Elumelu, who he married in 1993, and they are blessed with five wonderful girls; Nneka, Ugo, Ogor, Oge and Onyinye.

It will not be worthwhile to end this article without stating the humble philanthropist’s one of most important quotes:

“Everything I have today is because of Africa, I was born here, went to school here, I work here and I’m achieving some level of financial comfort here.”

Sir, for your steadfastness in business and transformation of lives as well as unleashing the Midas magic to anything you are involved in or touched, and not forgetting making the prestigious list of Times 100 Most Influential People in the World, you deserve once again to be our Boss of the Week.

Congratulations sir!

Headline

Mary Habila’s Death: Tinubu Has Failed Comprehensively, Disgracefully – Atiku

Published

1 day ago

July 16, 2026

Eric

By Eric Elezuo

A former Vice President, and Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has lashed out at the administration of President Bola Tinubu over its prolonged silence on the death of a medical practitioner, Mary Habila, who died at the residence of the Minister of Works, Dave Umahi.

Atiku condemned the inability of the Tinubu-led government from making any pronouncements or instituting any form of probe to unravel the cause of death since the sad incident occurred on June 27, 2026, saying the administration has failed comprehensively and disgracefully.

Atiku’s remarks are contained in a statement he released on his social platforms endorsed with his regular AA.

While not casting any blame on any particular person or entity, Atiku maintained that condolences are not enough,but must be accompanied by thorough investigation into the circumstances that led to the death of the 26 years old medical practitioner in her prime.

The former Vice President therefore called for a “credible, independent, and transparent investigation” to establish the truth, noting that “it is the refusal of the Federal Government to guarantee such an investigation that constitutes the scandal before us”.

The statement in full:

I have followed with deep sorrow and mounting concern the reports surrounding the death of Miss Mary Habila, a 26-year-old Nigerian from Nok, Southern Kaduna, who died on June 27, 2026, within the private residence of the Honourable Minister of Works, Senator David Umahi, in Uburu, Ebonyi State.

First, I extend my heartfelt condolences to the Habila family. No family should have to mourn a daughter taken in the prime of her life while also fighting simply to learn the truth of how she died.

But condolences are not enough. Nigerians deserve answers, and it is on this score that the Tinubu administration has failed, comprehensively and disgracefully.

Consider the facts that are not in dispute. A young woman died in the residence of a serving Federal Minister. For nearly two weeks, neither the Minister, nor the police, nor any arm of government said a word to the Nigerian people. It took the courage of Sahara Reporters to bring this death into public view. Three weeks after her death, no autopsy has been performed. No cause of death has been established. The investigation remains domiciled in the very state where the Minister served two terms as Governor and where his influence is beyond question.

And through all of this, silence from the Presidency. Silence from the Federal Executive Council. Silence from the Inspector-General of Police. Silence from the National Assembly. Not one word. Not one directive. Not one gesture to assure Nigerians that the life of Mary Habila matters to this government.

Instead, the Minister has been permitted to manage the narrative of a death that occurred under his own roof: issuing statements through his personal aides, deploying his private lawyers to correspond with the police, and continuing his official duties as though nothing has happened, while civil society groups, youth organisations, and the family’s own community cry out for an independent inquiry.

Let me be clear: I make no pronouncement on anyone’s guilt or innocence. That is precisely the point. Only a credible, independent, and transparent investigation can establish the truth, and it is the refusal of the Federal Government to guarantee such an investigation that constitutes the scandal before us.

A government’s first duty is the protection of life. Where a life is lost in circumstances touching a high official of state, the burden on government to act transparently is at its heaviest.

President Tinubu’s administration has instead treated this tragedy as an inconvenience to be waited out. If the death of a young Nigerian woman in a Minister’s residence cannot stir this government to act, then Nigerians must ask: whose life, exactly, does this government value?

I therefore demand the following: One, President Bola Tinubu must direct the Honourable Minister of Works to step aside immediately, pending the conclusion of investigations. This is not a punishment; it is the minimum standard of public accountability in any serious democracy. No official under this cloud should preside over a federal ministry as though it were business as usual.

Two, the Inspector-General of Police must immediately transfer the investigation from the Ebonyi State Command to Force Headquarters, with the involvement of independent forensic experts. No investigation conducted in the shadow of the Minister’s home-state influence can command public confidence.

Three, a full, independent, and internationally credible autopsy must be conducted without further delay, with the findings made public. The stalemate over the post-mortem, three weeks after this young woman’s death is an indictment of every institution involved.

Four, the family of Mary Habila must be protected from any pressure, inducement, or intimidation, and must be guaranteed unfettered access to the facts of their daughter’s death.

The measure of a nation is how it responds when the powerful are touched by tragedy and the powerless demand truth. Mary Habila was somebody’s daughter, somebody’s sister, a young professional with her life ahead of her. She was a Nigerian. Her death must not be reduced to a footnote of political convenience.

Nigeria will work again, but only when the life of every Nigerian counts, and when no one, however highly placed, stands beyond the reach of accountability.

May the soul of Mary Habila rest in peace. May her family find justice. -AA

Headline

Atiku Accuses INEC of Aiding Tinubu’s Alleged One-party State Agenda

Published

4 days ago

July 14, 2026

Eric

Former Vice President Atiku Abubakar has accused the Independent National Electoral Commission (INEC) of aiding President Bola Tinubu’s agenda to weaken opposition parties ahead of the 2027 polls by granting access to a factional leader of the African Democratic Congress (ADC).

In a statement issued Monday by the Atiku Media Office, Atiku alleged that INEC’s actions amounted to partisanship and a violation of the Constitution and the Electoral Act.

The statement referenced a July 11, 2026 claim by Nafiu Bala Gombe, who “parades himself as National Chairman of the African Democratic Congress (ADC)”, that he had succeeded in uploading the names of his candidates on INEC’s portal.

According to Atiku’s office, uploading candidates is part of the process for the 2027 General Elections, made possible by access codes granted to political parties in line with INEC guidelines.

“Meanwhile, INEC has been mum, and has not denied or confirmed this obvious contradiction to the law and its own guidelines,” the statement said.

Atiku’s team argued that by granting an access code to Bala Gombe, INEC was recognizing a “pretender” despite having “since validated the chairmanship of the Sen. David Mark-led exco.”

“By granting access code to Bala Gombe, a pretender, laying claims to the chairmanship of the ADC, though the law is not on his side and INEC has since validated the chairmanship of the Sen. David Mark-led exco, the electoral umpire is once again manifesting its partisanship,” the statement noted.

It drew parallels with a past incident under Prof. Joash Amupitan-led INEC, alleging the commission “illegally removed the names of the duly recognised ADC exco following the judicial rascality of Justice Lifu in ignoring a superior ruling of an appellate court.”

The statement described the “so-called ‘successful’ uploading of ‘candidates’ by Nafiu Bala Gombe” as lacking legal basis.

“Nafiu Bala Gombe is not recognised as ADC Chairman. Mark is duly recognised. Can there be two recognised Chairmen of a political party? Possibly only in an INEC led by Amupitan. Can INEC grant two access codes to a political party? Certainly not,” it added.

Atiku’s office warned that the development “is a recipe for crisis and confirms that Prof Joash Amupitan was appointed to enable the weakening of the opposition parties by creating crisis even where none exists.”

Citing the law, the statement noted that Section 222 of the 1999 Constitution (as amended) provides that candidates must emerge through recognized party primaries supervised by INEC, while Section 84 of the Electoral Act 2022 requires parties to submit only one validly nominated candidate per elective office.

“Nafiu Bala Gombe and his criminal gang did not conduct any primaries. The INEC granting of access code to Nafiu Bala Gombe is unconstitutional and unlawful. The only submitted candidates known to the law are those of David Mark. Any parallel submission such as Nafiu Bala Gombe’s is null and void,” it said.

The statement called on the INEC Chairman to stop “fomenting crisis in the ADC and the other opposition parties and by so doing helping President Bola Tinubu’s agenda of total State capture.”

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Appeal Court Upholds Judgment Ordering INEC to Derecognise Mark-led EXCO

Published

4 days ago

July 13, 2026

Eric

The Court of Appeal sitting in Abuja on Monday affirmed the judgment restraining the Independent National Electoral Commission (INEC) from recognising or participating in any state congresses organised by committees appointed by the Senator David Mark-led caretaker leadership of the African Democratic Congress (ADC).

The appellate court decision was a split of two-to-one.

A three-member panel of the appellate court, in a lead verdict delivered by Justice Okon Abang, said it found no reason to set aside the restraining order the Federal High Court in Abuja had issued against the Mark-led ADC on April 29.

It further upheld the order of trial Justice Joyce Abdulmalik, which restrained the Mark-led executives from interfering with the tenure and functions of the party’s elected state executives.

The appellate court concurred that responsibility for conducting state congresses of political parties rests with elected state executive committees, not with the national leadership.

While Justices Abang and Donatus Okorowo gave the majority verdict barring the electoral body from acknowledging the outcome of congresses held by the Mark-led leadership of the ADC, the head of the appellate court’s panel, Justice Abba Mohammed, gave a dissenting judgment.

In his minority decision, Justice Mohammed held that the case that precipitated the restraining order bordered on a non-justiciable internal affair of a political party.

He held that the trial court was wrong to have assumed jurisdiction to entertain the matter.

Meanwhile, the Court of Appeal judgment may jeopardise the presidential candidacies of former Vice President Atiku Abubakar and other candidates who emerged through the national congress organised by the Mark-led faction of the ADC, ahead of the 2027 general elections.

It will be recalled that the High Court had, in its judgment, held that the four-year tenure of the ADC’s State Working Committees and State Executive Committees remained valid and subsisting, pending the conduct of properly constituted congresses and the convocation of a national convention.

The judgment followed a suit marked FHC/ABJ/CS/581/2026, lodged before the court by aggrieved members of the ADC.

Those behind the suit are Don Norman Obinna, Johnny Tovie Derek, Obah C. Ehigiator, Hon. Olona Yinka, Dr. Charles Idowu Omideji, Samuel Pam Gyang, and Obianyo Patrick, who told the court that they sued for themselves and on behalf of all State Chairmen and State Executive Committees of the African Democratic Congress (ADC).

Listed as defendants in the matter are the ADC; Sen. David Mark; Sen. Patricia Akwashiki; Mallam Bolaji Abdullahi; Ogbeni Rauf Aregbesola; and Prof. Oserheimen Osunbor (sued on behalf of the Caretaker/Interim National Working Committee); and INEC.

The plaintiffs had, among other things, challenged the decision of the Senator Mark-led leadership of the ADC to constitute committees for the purpose of conducting state congresses.

They challenged the validity of appointments made by the Mark-led caretaker committee, arguing that planned state congresses slated for April 2026, if conducted under the supervision of the said caretaker committee, would constitute a gross violation of the party’s constitution.

It was further the position of the plaintiffs that only duly elected party organs recognised under the party’s constitution possess the power to conduct congresses.

While agreeing with the plaintiffs, Justice Abdulmalik held that neither the 1999 Constitution, as amended, nor the Constitution of the ADC empowered the caretaker/interim National Working Committee led by Senator Mark to appoint committees for the purpose of conducting state congresses.

The court held that the claims brought before it by the plaintiffs were valid and deserving of judicial consideration, citing an alleged breach of constitutional and statutory provisions.

It held that Section 223 of the 1999 Constitution, as amended, mandates political parties to conduct periodic elections based on democratic principles, adding that Article 23 of the ADC Constitution also provides that national and state officers shall hold office for a maximum of two terms spanning eight years.

Justice Abdulmalik stressed that although courts are generally reluctant to interfere in the domestic affairs of political parties, they nonetheless intervene where there is a clear allegation of violation of constitutional or statutory provisions. Political commentary articles

She held that evidence before the court established that the tenure of the state executive committees of the ADC remained valid and must be allowed to run its full course without interference.

The court stressed that only those elected structures have the authority to organise state congresses, and it accordingly nullified any process initiated by the Senator Mark-led caretaker leadership.

Earlier, the court dismissed a preliminary objection filed by the defendants challenging the competence of the suit and the court’s jurisdiction to entertain it.

It held that the subject matter of the plaintiffs’ action pertained to the affairs of INEC and therefore fell within the jurisdiction of the Federal High Court under Section 251 of the 1999 Constitution, as amended.

The court also waved aside the defendants’ contention that the plaintiffs failed to exhaust internal dispute resolution mechanisms before instituting the action.

It held that the plaintiffs had the requisite locus standi (legal right) to file the suit.

The appellate court, while upholding the restraining order, said it had a duty to intervene so as to “prevent anarchy and ensure the survival of democracy in Nigeria.”

It cited a recent Supreme Court judgment in the leadership crisis rocking the Peoples Democratic Party (PDP) to hold that the ADC case could not be classified as a domestic affair of a political party.

“Once a complaint before the court is anchored on a constitutional infraction, the shield of internal affairs drops and the veil is lifted for judicial intervention,” Justice Abang added in the majority judgment.

Consequently, the panel dismissed the appeal marked CA/ABJ/CV/608/2026, which the ADC lodged in order to set aside the high court judgment.

It held that congresses and the national convention conducted by the Mark-led ADC amounted to a nullity as they were held in disobedience to a subsisting order that the High Court made on April 14.

Having resolved the case against the ADC, the appellate court awarded a cost of N10million against the party.

Shortly after the judgment, the ADC, which was represented by its National Welfare Secretary, Mr Nkem Ukandu, said the party would take the case before the Supreme Court.