Tony Onyemaechi Elumelu (born 22 March 1963) is a Nigerian economist, entrepreneur, and philanthropist. He is the chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation. Elumelu holds the Nigerian national honours, the Commander of the Order of the Niger (CON) and Member of the Order of the Federal Republic (MFR) in 2003.He received Nigeria’s National Productivity Order of Merit in 2019.
Elumelu was born in Jos, Plateau State, Nigeria, in 1963. He hails from Onicha-Ukwu in Aniocha North Local Government Area of Delta State. He has two degrees in economics from Nigerian universities, a bachelor’s degree from Ambrose Alli University and a master of science degree from the University of Lagos. Elumelu married Awele Vivien Elumelu, a medical doctor, in 1993, and they have seven children together.He has four siblings, one of whom is Ndudi Elumelu, a member of the Nigerian Federal House of Representatives.
Elumelu started his career in Union Bank as a Youth Corp member of the National Youth Service Corps in 1985. In his early career, he acquired Standard Trust Bank in 2005 and United Bank for Africa (UBA) was acquired afterwards.
Following his retirement from UBA in 2010, he 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.
He serves as an advisor to the USAID’s Private Capital Group for Africa (PCGA) Partners Forum. He 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. He 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.
He was one of the co-chairs of the 26th World Economic Forum on Africa in Kigali, Rwanda, from 11 to 13 May 2016.He was named in TIME 100 most influential people in the world.
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