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World Leaders Applaud Elumelu’s Contributions to Nigeria and the African Economy.



Wema Bank Alat

World leaders applaud Elumelu’s contributions to Nigeria and the African economy.


Co-Founder, Tony Elumelu Foundation (TEF), Dr. Awele Elumelu (seventh right); Founder, TEF, Group Chairman, United Bank for Africa (UBA), and celebrant, Mr. Tony Elumelu(fifth left); daughter, Ms Ego Elumelu(fourth left); GMD-CEO, UBA, Oliver Alawuba, flanked by senior executives of companies associated to Tony Elumelu and 60 beneficiaries of the TEF Entrepreneurship Programme, during the symposium held to commemorate Elumelu’s 60th birthday in UBA House, Marina, Lagos…yesterday.















President Muhammadu Buhari was joined by his colleagues across the world yesterday in commending the impact of foremost entrepreneur and Chairman of United Bank for Africa Plc, Tony Elumelu, on the African economy as the icon marked his 60th birthday.




NewsReport gathered that among those who sent goodwill messages to Elumelu, the promoter of Africapitalism, were Nigeria’s President-elect, Bola Tinubu; France’s President, Emmanuel Macron; Ghana’s Nana Akufo-Addo; Namibia’s Hage Geingob; the President of the Democratic Republic of the Congo, Felix-Antoine Tshilombo; and his Liberian counterpart, George Weah.
Tributes also poured in from Nigeria’s former presidents, Olusegun Obasanjo and Goodluck Jonathan, alongside erstwhile President Bill Clinton of America, as well as former British Prime Minister Tony Blair.
Clinton, who joined the symposium held in honor of the retired banker in Lagos via a video call, described Elumelu as one of the most successful Nigerian entrepreneurs, noting that Africa, indeed, has found a true pan-Africanist in him.
Corporate leaders, who have shared the challenges Elumelu confronted and triumphed over to achieve success, including Aliko Dangote of the Dangote Group, Femi Otedola, and Abdul Samad Rabiu, also sent messages or participated in the symposium to extol the virtues and audacity exemplified by the sexagenarian.
Elumelu also had to relish commendations from international development institution leaders such as the President of the African Development Bank (AfDB), Dr. Akinwumi Adesina; the Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala; and the President of the African Export-Import Bank, Prof. Okey Oramah.



Buhari recalled the Delta State native’s philanthropy, which has seen many struggling Africans emerge as successful entrepreneurs, noting that his contribution to Nigeria’s banking sector has helped to strengthen the economy.
Tinubu described him as “a class above the rest” and hailed his simplicity and generosity, which he said could not be quantified.
“Tony’s business acumen is a gift to Nigeria… I have no doubt that his foundation continues to be one of the factors that contributes to the development of youth potential and businesses across our great nation, Nigeria,” he stated.
From Kenya to Nigeria and The Gambia to Angola, beneficiaries of the Tony Elumelu Foundation’s (TEF) yearly entrepreneurship grant gathered in Lagos to share their success stories and the impacts the Nigerian banker is making across the continent.
About 18,000 Africans have benefited from the foundation since its inception, with over $100 million in seed capital disbursed. According to the foundation, over 400,000 direct jobs have been created, with women accounting for 58% of the workforce.
Elumelu joined the defunct Allstates Trust Bank at 27 years old and grew to the position of branch manager in 12 months, the youngest person to hold such a position in those days. Alongside other young bankers, he took over the struggling Crystal Bank years later.
At 34, he became the bank’s Chief Executive Officer after rebranding it Standard Trust Bank, which would later merge with the legacy United Bank for Africa and pioneer Nigeria’s modern financial system.


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