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Boss Of The Week

Tony Elumelu: 60 Diamond Garlands for Africa’s Symbol of Enterprise

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By Eric Elezuo
On March 22, 2023, an enigma celebrated another year of positive impact on the surface of the earth. He is Tony Onyemachi Elumelu, the influential name associated with the great United Bank for Africa, Tony Elumelu Foundation and Heirs Holdings Limited. Here is a man who will never cease to create firsts. That is what he was created to do, and has never disappointed. As such, his accolades resonate not just in the Africa sub-regions, but across the globe.
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 is worth noting that Tony has successfully held various editions of his annual Tony Elumelu Foundation Entrepreneurial Forum with not less than 54 African countries participating each time.
Adding another glorious feather to his retinue of feathers, Elumelu and his team of dedicated achievers, also operate new group insurance companies, namely Heirs Insurance and Heirs Life.
For a man, whose only concern is affecting humanity, it is not surprising that encomiums trail every of his step. In faraway Belgium on November 15, 2020, the man many referred to as chairman of chairmen was conferred with Belgium’s oldest and most important national honour titled: “The honorary distinction of Officer in the Order of Leopold.”
The award is said to be in recognition of his commitment to the eradication of poverty and the economic empowerment of young Africans. That’s vintage Tony, and it is no wonder he has been able to coin a new lexicon in the dictionary of entrepreneurial intelligence; Africapitalism!

“…the Kingdom of Belgium conferred on me with the honorary distinction of Officer in the Order of Leopold, the country’s oldest and most important National Honour.

“I am humbled by this recognition of the work @TonyElumeluFDN in catalysing entrepreneurs across Africa and will continue to drive the economic empowerment of our brilliant young #Africanentrepreneurs to propel development in Africa,” the distinguished entrepreneur had reported.

In commemoration of of his diamond jubilee event, a symposium was held in his honour at the Tony Elumelu Amphitheatre in UBA House.

The symposium tagged ’60 for 60’ was attended by 60 young beneficiaries of the Tony Elumelu Foundation Entrepreneurship Programme, friends and colleagues.

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.
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 Porter at Harvard Business School, Elumelu subscribes to Michael 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, you deserve once again to be celebrated.
Congratulations sir and happy 60th birthday!

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Boss Of The Week

Celebrating Accomplished Entrepreneur, Kola Oyefeso at 80

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By Eric Elezuo

Some call him highly philosophical, some call him the entrepreneur with a difference while a lot of others refer to him as the czar of real estate. But one thing is certain, the splendid octogenarian, Aare Kola Oyefeso, the Aare Gbo Gbo Gbo of Remoland, is many things combined in one package.

His trajectory in the world of business, social impact and human relations culminated in the show of class that was exhibited at the prestigious Harbour Point Event Centre, where the who’s who in the industrialisation, real estate and general merchandise gathered to celebrate his entry into the world of the octogenarians. It was his 80th birthday.

A writer of no mean repute, Aare Oyefeso was born on July 7, 1944, and has remained instrumental to the development of the nation and economic growth of various sectors, with special emphasised to his primary field of realtor.

He is the president of KOKTO Group and the Balogun of Ode Remo, in his native Ogun State, Aare Oyefeso is a social figure of note, who has held the presidential position of the influential Lagos County Club, leaving behind a trail of development, administrative stability and extreme welfare measures for members and sympathizers of the club. He is presently a member of the Board of Trustees of the Club, contributing quota after quota to its general wellbeing.

He has often and on been celebrated for a leadership characteristics that has been second to none as well as for unwavering dedication and commitment to building human and physical structures that can stand the test of time, and lending long helping hand in the area of philanthropy, generosity and excellence.

Apart from various work of philanthropy and helping in building the entrepreneurial fabrics of the Nigerian economy, Aare Oyefeso is an ardent writer, and is credited with many books, journals and articles including Unraveling the Puzzles of Earthly Life, which is in four parts, The Musing of a Quester, which he said is to “wake us to our chief mission in this world: to call a spade by its appropriate name by reminding us, we are not in the world to climb a social tree or to merely eat, drink, procreate, then die and be cremated, or lowered into the soil for all manners of maggots and insects to feast on our lifeless bodies.

“In effect, this book would make sense only to those who are brazen, or dissatisfied with the shadow show of the labyrinth world,” he announced.

Oyefeso has dedicated his life to discussing the transient nature of life, and the need to prepare for whatever the afterlife holds.

In one of his writings, he stated that “First and foremost as a mystic, I must remind us of the inevitability of death. It is designed by the Creator Himself as a relief for the soul when our body has become enervated by disease, old age, accident or other mishaps that have made the soul conducive to inhabit the physical body any longer.

“This happens when our allotted time is over in this world. The individual time varies and it is determined by the Creator Himself according to the karma and purpose that brought us into the world in the first instance.”

Looking trim, smart and alert at 80, Aare Oyefeso was treated to love from all and sundry, and he confirmed his happiness amo g friends and well wishers with classic displays of dance steps, friendly banners and enjoyment of good food and beverages. It is worth noting that Aare Oyefeso is not in the habit of taking alcohol. In an interview he granted seven years, he noted that he quit alcohol over 27 years then, which in essence means he left some 34 years old.

Aare Oyefeso is married, and blessed with children, who are presentstanding on their own, and replicating a legacy of improved living, love for one another and dedication to the course of living a good and impactful life while still here on earth.

From all of us, we wish the Balogun of Ode Remo a happy birthday, and many more years on planet earth.

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Boss Of The Week

My Life in the Public Eye: Segun Osoba Celebrates 85 with Book Launch

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By Eric Elezuo

It was a gathering of champions at the weekend when seasoned and accomplished journalist, administrator and politician, Aremo Olusegun Osoba, proved his networking and networth prowess.

The Convention Hall of the Eko Hotels and Suites was the venue, and it quickly became a beehive of activities with the calibre of celebrities, nobles and dignitaries that turned up in their numbers to honour a man, who many have described as a completely detribalised Nigerian. The event was the launch of his newest titles; My Life in the Public Eye, to commemorate his 85th Birthday. He was born on July 15, 1936.

Osoba has been verily honoured in many quarters for his steadfastness in the field of journalism, humanity and public relations, and so it was not a surprise when the big wigs, the creme de la creme of the society turned from every corner of the earth to give honour to whom honour is due.

On the roll call of A-list attendees to the event are former President Olusegun Obasanjo, the Vice President of Nigeria, Senator Kashim Shettima; Ogun State Governor, Prince Dapo Abiodun; former Foreign Affairs Minister, Prince Bolaji Akinyemi; Chief Alex Duduyemi, former Delta State governor, Mr. James Ibori, former governor of Lagos State, Mr. Babatunde Fashola; Otunba Niyi Adebanjo, Ondo State governor, Mr. Lucky Aiyedatiwa, Senator Florence Ita-Giwa, Chairman, Ovation Media Group, Aare Dele Momodu, former Sec Gen of the Commonwealth, Chief Emeka Anyaoku; CEO, Bison, Prince Bisi Olatilo; Oba Otudeko, Senator Uba Sani, Sir Kesington Adebutu, Olori Ladun Sijuade, Chief Sunny Kuku, Lady Maiden Ibru, Senate President, Godswill Akpabio, Senator Ope Bamidele, Chairman, ThisDay/Arise News, Chief Nduka Obaigbena; President, Dangote Industries Limited, Alhaji Aliko Dangote, Erelu Abiola Dosunmu among a host of very many other important dignitaries.

Accomplished pen-man, who attended Methodist Boys High School, it was not a coincidence that the event of the day fell exactly on the 60th anniversary of his foray into journalism.

At 85, Osoba’s strides speak volumes, and go before him. These as much were captured by all the speeches and remarks by notable individuals at the book presentation including Vice President Shettima, Fashola and Dapo Abiodun.

It could be recalled that during one his birthdays in the past, former Military President, General Ibrahim Babangida recognized him as detribalised, suave, urbane, cerebral, seasoned and profoundly accomplished.

“Chief Segun Osoba remains one of Nigeria’s detribalised and essentially cosmopolitan octogenarians, suave, urbane, cerebral, seasoned and profoundly accomplished journalist who cut his professional teeth at a time when technology was still a huge challenge,” Babangida had written.

While wishing Osoba the best, he noted that “your sun has just begun to shine. You remain to me as one of the most patriotic Nigerians I have come across in my sojourn in life”.

No doubt one of the finest journalists Nigeria has ever produced, Chief Olusegun Osoba, was the Editor and Managing Director of government-owned Daily Times Nigeria Ltd under Babangida’s regime. He had bitter experiences like his compatriots.

Osoba revealed that Babangida sacked him three times while Abacha made attempts on his life three times due to his alignment with NADECO.

Osoba said in parts, “I will call him by his name. Three times Babangida sacked me. Three times he re-instated me. At last, he converted my sack to resignation. Three times Abacha wanted to kill me. I was in hiding for one year,” he said.

That explained how dangerously he pursued his duties, and even at the risk of his own life, he never backed down. He is a believer in the truth, and as Governor Abiodun has described him in more than one forum, a role model to every lover of truth.

In his opening lines of an article titled Osoba’s Metamorphosis, in celebration of Osoba’s 80th birthday, Mr. Babatunde Jose, an ally and contemporary in journalism,  said, “Having read Chief Olusegun Osoba’s book; Battlelines: Adventures in Journalism and Politics, and my personal life journey with the author, my take away from the book is that it is a story of an unending adventure with fate. A man whose resilience, hard work, perseverance and belief in himself and service to God and man has paved the path for a successful life in what we could describe as the cauldron called the Nigerian post-colonial state.

“Born during the colonial era of the early constitutional development in Nigeria; precisely 1939, during the governor generalship of Sir Bernard Bourdillon 1935-1943 who laid the groundwork for the constitutional proposals which his successor Sir Arthur Richards (Lord Milverton) later submitted in 1944 and which became the Richard’s Constitution. He succeeded in convincing the Northern Emirs of the advisability of coming to join with the southerners in the Legislative Council of the country.”

Mr. Jose further added: “What we are witnessing today is a schism in the political class; a crack in the political pot and a return to primitivism, parochial and primordial tendencies. In all these however, Olusegun Osoba stands out as one political animal who has cut a distinct persona for himself and a different breed from the hubris of ‘come and chop’ political class; a collective of brigands and ruthless socio-economic barracudas, hell bent on robbing the national coffers of all that it contain.

“His sojourn in journalism started during the time of his adopted uncle and godfather, late Alhaji Babatunde Jose. Being a good student of human philosophy, Osoba would imbibe the salient qualities of his mentor to rise and shine above his peers. Despite his apogee in journalism, he was not only cool headed but worked hard to maintain his comportment. This is attested to in the wide network of his associates, particularly in his youthful, clubbing and rascally days. He never lost focus and at the back of his mind was always the dictum: Remember the son of whom you are.

“As it was in journalism, so had it been in politics. Having worked closely with the late sage, Chief Obafemi Awolowo, the man with a mission, Osoba had no choice but to pitch his tent with the progressive elements of Nigerian politics. It worked and has continued to work for him.

“In all these however, one trait that has been discernible in Osoba’s personality is his contentment in life.”

To Dele Momodu, he is the grandfather of journalism.

“He was as dynamic in politics as he had been in journalism. I was not very surprised by his conquests and giant strides. His suaveness and impeccability were such that his successes were assured in whatever he touched,”said Momodu.

It is with deep of respect that we raise a toast to grand Commander of Nigerian journalism as he clock 85years today.

Congratulations sir!

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Boss Of The Week

Like Mother, Like Daughter: The Success Story of Ijeoma Akunyili

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By Eric Elezuo

Ijeoma Akunyili, fondly and popularly known as Ije Akunyili, is a typical example of a chip off the old block, when it is used to represent everything positive, good and attractive. She is the daughter of one of Nigeria’s finest administrator, Dr. Dora Akunyili, who served the country in various capacities including as the famous, no-nonsense Director General of the National Agency for Food, Drug Administration and Control (NAFDAC).

An Nigerian-American medical practitioner today, the younger Akunyili has become an epitome of parental expectations, striding gingerly in the footsteps of her mother, and creating niche after niche for herself and institutions she has come to represent.

The success stories of Ijeoma are just getting fresher, as say in and day out, the world is inundated with one solid achievement after another credited to the ebullient medical practitioner.

Just this July of 2024, it was announced that The Harvard Kennedy School (HKS) in the US elected Ijeoma Akunyili as an alumni board member of the institution. She was named alongside eight others from different countries. This is a newer cap added to an avalanche of caps that deck her intelligent head.

A graduate of Summa Cum Laude from the University of Pennsylvania, Ijeoma has a Masters of Public Administration degree from Harvard. This, she obtained before going on to work as a Junior Professional Associate for the World Bank. She also attended the University of Maryland School of Medicine, and had her emergency medicine residency at the McGovern Medical School at UTHealth Houston.

Ijeoma was the regional medical director for TeamHealth’s Northeast Group where she managed the operations of nearly 20 emergency departments, critical care, and hospitalist service lines in New Jersey, Connecticut, Rhode Island, Pennsylvania and New York. She had also served as the chair of emergency medicine at Waterbury Hospital. She is the current President of the Connecticut College of Emergency Physicians.

A prolific achiever, Ijeoma had on January 11, 2023, received the Jersey City Medical Centre appointment as their Chief Medical Officer. She therefore, became the hospital’s first Black Chief Medical Officer in its history. Her elevation to the top job at a time her career was just budding was a clear signal that the young Nigerian has so much up sleeves in terms delivery, experience and international exposure.

She is not however, a newcomer to elevations and Awards as in 2016, she received the Rising Star Award from the American Association of Women Emergency Physicians.

Also, in 2019, Ijeoma Akunyili was named the Medical Director of the Year for her generous efforts in work at the Waterbury Hospital Emergency Department, and recently in 2024, she got recognised as Becker’s Hospital Review Black Healthcare leaders to know.

A workaholic, Ijeoma is also an award winning homemaker, winning from the homefront, and setting the path for greater glory for her children as her own mum did.

She is married to Aris Brou, and they are blessed with two children.

As already stated as regards her parental origin, she iis the first daughter of Dr. Chike Akunyili and Dora Akunyili, who among many things is a former Minister of Information and National Orientation.

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