Anthony Elumelu, Tony Elumelu, Tony Onyemaechi Elumelu Biography and Profile, Nigerian, Nigeria - Business Leader

Anthony Elumelu (Anthony Onyemaechi Elumelu), a Philanthropists, born 22 March 1963, also known as Tony, MFR, CON founded African Exchange Holdings Ltd. Mr. Elumelu founded Heirs Holdings Limited in 2010 and serves as its Chairman.

In 2010, Mr. Elumelu also established The Tony Elumelu Foundation and serves as its Founder. He served as Group Managing Director and Chief Executive Officer of United Bank for Africa Plc until July 31, 2010.

In 2005, he engineered, the largest merger in the Sub-Saharan African banking industry, through his acquisition of the United Bank of Africa. In 1997, Mr. Elumelu acquired Standard Trust Bank and created a new model of customer-focused banking for Nigeria’s emerging middle class.

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Mr. Elumelu served as the Managing Director and Chief Executive Officer of Standard Trust Bank Plc, since December 1996. He served as the Head of Corporate Banking and Head Office Branch of Allstates Trust Bank Limited, from 1988 to 1995.

He also served as its Area Manager. He served as Chief Executive Officer of BGL Limited. He started his career with Union Bank of Nigeria Plc in 1986. He served as the President of the West African Bankers’ Association (WABA) since 2006.

Mr. Elumelu sits on numerous public and social sector boards, including the global advisory group of USAID’s Private Capital Group for Africa (PCGA) Partners Forum and the United Nations Sustainable Energy for All Initiative (SE4ALL).

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He also serves on the international advisory board of Wilson Centre. He serves as Chairman of the United Bank of Africa since August 2014.

Mr. Elumelu served as an Executive Director of United Bank for Africa Plc from July 27, 2005 to July 31, 2010. He has been the Chairman of Transnational Corporation of Nigeria Plc since September 2011. Mr. Elumelu serves as the Chairman of Seadrill Nigeria Limited.

He serves as Chairman of Heirs Alliance Limited, Global Payments Services Limited, XL Logistics Company Limited, pan-African financial services group and United Bank for Africa. Mr. Elumelu serves as Co-Chairman of the Aspen Institute Dialogue Series on Global Food Security.

He has been the Chairman of TransCorp Hilton Hotel, since December 2005. He served as Vice Chairman of United Bank for Africa (Ghana) Limited. Mr. Elumelu has been a Director of The Corporate Council on Africa since May 2, 2013.

He serves as Vice-Chairman and was a key driver in the formation of the National Competitiveness Council of Nigeria. Mr. Elumelu serves on the Nigerian President’s Agricultural Transformation Implementation Council (AITC).

Mr. Elumelu serves as a Non-Executive Director of BGL Limited, Standard Alliance Insurance Company Limited, Flame Petroleum and Gas Limited and BGL Securities Limited; and Member of Institute of Directors of Nigeria.

Mr. Elumelu serves as a Director of Africa Finance Corporation. He served as an Executive Director of Continental Trust Bank Limited, from 1995 to 1997. Since January 1995, Mr. Elumelu served as an Executive Director of Linkage Assurance Company Limited since 1995.

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He served as a Non Executive Director of Africa Finance Corporation since May 16, 2007 until December 12, 2016. Mr. Elumelu served as a Director of Transnational Corporation of Nigeria Plc. He served as a Member of Advisory Board of the Federal Capital Territory.

In the private sector, Mr. Elumelu was a founding Director of Transnational Corporation Plc. He is a Director of the Central Securities Clearing System Ltd. He was accorded the national honour of Member of the Order of the Federal Republic [MFR] in 2003 and subsequently the further honour of Commander of the Order of the Niger (CON) in 2012, for his service in promoting private enterprise.

He was recognized by Forbes Magazine as one of “Africa’s 20 Most Powerful People in 2012. In addition, the New African Magazine featured him in their list of the “100 Most Influential Africans in Business.”

Mr. Elumelu won the 2006 African Business Leader of The Year award conferred by the Africa Investor. In March 2007, he was voted The Banker of The Year by the Nigerian Magazine, Global Excellence and Chief Executive Officer of the Year in 2008 by the same magazine. He was recognized as one “New African’s 100 most influential Africans 2015”.

Mr. Elumelu invests across Africa, primarily in the oil and gas, financial services, hospitality and power sectors. He is the originator and leading proponent of the term “Africapitalism”. He is an entrepreneur and philanthropist. Mr. Elumelu studied Economics at the Ambrose Alli University Ekpoma Edo State in 1985.

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Tony Onyemaechi Elumelu obtained a Master’s Degree in Economics from the University of Lagos. He also obtained post-graduate degree in Economics from Harvard Business School.

  • Tony Onyemaechi Elumelu Biography and Profile (Bloomberg)
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