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Tony Elumelu @ 61: Marking Another Milestone

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Tony Elumelu
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By Chidiebere Nwobodo

The unit of life is time. And life is like a leaf of plain white paper you decide what to write on it. This philosophy defined Tony Elumelu’s teenage years.

Tony Elumelu @ 61: Marking Another Milestone

Tony Elumelu

Then young Tony set out to discover not only what the future holds for him but to design it, which exemplifies Abraham Lincoln’s postulation that the best way to predict the future is to create it.

He did not wait for life to happen to him—he happened to life!

Sixty-one years on the voyage of life, riding tides in turbulent ocean of the universe, like great Michelangelo, Tony Elumelu has not only carved and painted his “tomorrow” but has become a paragon of success story for young entrepreneurs to copy. His impact in modelling young entrepreneurs has reverberated across Africa via Tony Elumelu Foundation (TEF).

He is a private sector leader cum shrewd investor with investments in key sectors of the African economy through Heirs Holdings, Transcorp Group, UBA Group, etcetera.

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Hundreds of thousands of jobs have been created by this entrepreneurial maven. At an early stage, with an eagle-eyed focus, he was poised to achieve greatness in life.

He could not allow any perceived disadvantage to weaken his resolve to rise from nadir of obscurity to olympian cliff of fame. Like Arthur C. Clarke said: “The only way to discover the limits of the possible is to go beyond them into the impossible”.

Tony Elumelu, as a pacesetter, believes that impossible is just a word. At 34, he was already chief executive officer of defunct Standard Trust Bank and one of the youngest bank CEOs in Nigeria.

Stories of reforms and revolution of African banking industry cannot be complete without outlining his sterling efforts towards positioning African banking industry to compete with the rest of the world.

His indelible footprints of success as chief executive of United Bank of Africa (UBA), will remain a revered point of reference for ages to come.

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Tony Elumelu’s ten-year visionary leadership at UBA positioned the Bank as leading 21st century mega bank in the continent, with over 20 million active customers, 30,000 employees, and 1,000 branches across 20 countries of Africa.

When Americans brag with behemoths like JP Morgan Chase, Bank of America and Europeans pride in leviathans like Barclays, Deutsche Bank AG, Africans glow in the UBA Group—all thanks to Tony O. Elumelu, CFR. The man who created his “tomorrow”.

In 2010, he retired as chief executive officer of the UBA Group and founded Heirs Holdings and The Tony Elumelu Foundation (TEF).

Beyond banking industry, Tony Elumelu has straddled the divide of hospitality industry. His spirit of excellence can be seen in Transcorp Hillton, Abuja, a five-star hotel located at the heart of the Nigeria’s capital, where he has controlling interest.

As the billionaire entrepreneur is graciously cerebrating his 61th birthday, the life of Tony O. Elumelu has become another proof that repeated excellence heralds greatness.

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It exudes a purpose driven life anchored on eternal philosophy, that life is not an accident, which implies that for anyone to be great you have to set out for it with laser-focused vision and purpose-driven passion.

Tony O. Elumelu is the father of Africapiltalism—an economic philosophy hedged on optimizing power of capitalism via entrepreneurship to liberate Africa from the shackles and hackles of multidimensional poverty and crass underdevelopment.

Being one of the Forbes’ recognized richest people in Africa, In 2020, he was honoured amongst Times Magazine’s 100 most influential people in the world. Despite achieving giant strides and reaching lofty milestones in life, the Delta-born business guru has never downplayed the place of grace in his meteoric rise to stardom.

On several platforms, with sense of humility and humour, he has narrated how luck—or what can be called favour, mixed with dint of hard work, contributed immensely to his projectile growth from being just a corp member at Union Bank, to emerging as one of the youngest CEOs of commercial banks, to chairing one of the largest banking conglomerates in Africa.

He has asked this philosophical but rhetorical question in one of his public outings: “Am I blessed or am I lucky?”. I will try to answer it. Tony O. Elumelu is both blessed and lucky. Everything about him bespeak blessings. His body language acknowledges biblical expository that the race is not to the swift, nor the battle to the strong but to him God shows mercy.

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It takes unparalleled humility and a deep understanding of the role of the supernatural in the affairs of men, for a billionaire who has attained height of success to openly acknowledge the place of luck in his success story. This is one of the great attributes that stands out Tony O. Elumelu.

Despite his hard work and sacrifices to get to his enviable status today, he has always acknowledged that he is a blessed and lucky person. His philanthropic strides and gestures are driven by this belief that he is just a custodian of wealth meant to better humanity.

A school of thought says: “what we have done for ourselves alone dies with us; what we have done for others and the world remains, and is immortal”. This is the ideology that gave birth to Tony Elumelu Foundation (TEF), and transformed Onyemaechi—the founder, from being just a human to a humanitarian.

Tony Elumelu Foundation (TEF), in the last decade has done marvellously well to empower over 16,000 young entrepreneurs across 54 countries in Africa, through training, mentoring and funding them with start-up capital of $5,000 each. In 2015, the Foundation launched an “Entrepreneurship Programme”, a $100 million intervention to empower 10,000 African entrepreneurs over the next ten years. Elumelu’s passion for young entrepreneurs is not only unequalled but contagious. Global bodies like UNDP, UNCDF, AfDB, Red Cross, etcetera, have all identified with the Foundation via partnership.

Tony O. Elumelu, CFR, as an advocate of Africapitalism, and who is fondly called the King of soft life, admonishes that next frontier of Africa’s wealth will be in entrepreneurial quest of her youths. We cannot keep watching African youths risk and waste their lives trying to cross Sahara desert and Mediterranean Sea to search for greener pasture in the developed world.

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As he marks another birthday milestone, I choose to celebrate his impactful journey so far on the lives of African youth. There is a school of thought that encourages us to celebrate lives of those who have become exemplary in order to get others in the society to emulate such virtues.

    Nwobodo, a public analyst, writes from Abuja

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Nigeria, Israel Strengthen Research, Technology Collaboration

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Nigeria and Israel yesterday reaffirmed their commitment to deepening bilateral cooperation in research, technology and innovation as both countries pledged to expand partnerships that will drive entrepreneurship, commercialise research and accelerate economic development.

The commitment was made at the closing ceremony and innovation showcase of the I-FAIR Cohort of the Israel-Nigeria Innovation Fellowship for Aspiring Inventors and Researchers (I-FAIR) in Abuja, where the Ambassador of Israel to Nigeria, Michael Freeman, announced that funding had been secured for the fifth edition of the programme, scheduled to begin in October 2026.

Freeman described I-FAIR as a practical demonstration of the growing partnership between both countries, saying it had enabled Nigerian innovators to develop local solutions to national challenges through Israeli mentorship and expertise.

He said, “This programme has never been about bringing Israeli solutions to Nigeria. It’s been about helping brilliant Nigerian innovators develop Nigerian solutions to Nigerian challenges supported by Israeli experience, mentorship and innovation.”

The envoy noted that the initiative had brought together government, academia, investors, engineers and entrepreneurs to transform innovative ideas into businesses capable of creating jobs and stimulating economic growth.

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Announcing the continuation of the programme, he said, “I am so proud to stand here today and announce that we have secured with our partners funding for I-FAIR 5 and I-FAIR 5 will be launching in October 2026.”

Freeman said the relationship between Nigeria and Israel had grown significantly over the past four and a half years through cooperation in innovation, agriculture, healthcare, education, water management and technology.

He expressed confidence that stronger collaboration between both countries would unlock greater opportunities for startups, research institutions and businesses.

According to him, “Israel brings experience and innovation, technology, agriculture, healthcare, cyber security, security and water management. Nigeria brings extraordinary talent, creativity, entrepreneurship and one of the most dynamic young populations anywhere in the world.”

He added, “I have no doubt that the best chapters of the relationship between Israel and Nigeria are still ahead of us.”

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The Executive Secretary of the Tertiary Education Trust Fund, Architect Sonny Echono, also reaffirmed TETFund’s commitment to strengthening research and innovation through strategic partnerships with Israel and other stakeholders.

He said the I-FAIR programme aligned with Nigeria’s priorities in food security, agriculture, medicine, technology, clean energy and the circular economy, adding that TETFund would continue supporting initiatives that promote research commercialisation.

Echono stressed that collaboration between government, academia and industry remained critical to translating research findings into products and services.

He said, “It is this critical linkage, especially between science, engineering, technology and innovation, and the productive sector that is critical for translating R&D results and inventions into finished products for socio-economic benefits of our people.”

He disclosed that TETFund was working with partners to establish innovation facilities in about 60 tertiary institutions and had created a student innovation fund that would provide up to ₦50 million to students with commercially viable ideas.

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The TETFund boss also announced plans for a National Research Fair later this year, where innovators would showcase products before policymakers, financial institutions and investors to attract funding and commercial partnerships.

Paying tribute to the outgoing Israeli ambassador, Echono described Freeman as a strong bridge between Nigeria and Israel.

He said, “Nigeria is grateful for your service. You have been a strong bridge between our two countries.”

Earlier, Head of Programmes at Innov8 Hub, Tolulope Aina, said sustainable economic development depended on building an innovation ecosystem that transforms ideas into successful businesses.

She noted that Innov8 Hub had supported more than 3,000 innovators, researchers and entrepreneurs, helping them convert research into products, startups and investment-ready ventures.

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Aina said, “Nigeria does not suffer from a shortage of brilliant minds, what we need are stronger pathways that help those ideas become products, businesses, and opportunities that improve life.”

She thanked the Embassy of Israel and TETFund for their continued support in strengthening Nigeria’s innovation ecosystem.

According to her, “Building an innovation-driven economy requires collaboration, long-term commitment and shared purpose.”

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African Judges Pledge Support for AfCFTA’s Success

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Chief Judges drawn from countries across the African continent have resolved to collaborate and support measures aimed at ensuring the success of the Africa Continental Free Trade Area (AfCFTA) through an efficient, reliable and predictable dispute resolution system.

They agreed to explore ways to harmonize disputes resolution mechanisms in the continent with a view to making it easier and faster to resolve commercial disputes.

The resolutions formed part of the decisions taken at the third Africa Chief Justices’ Alternative Dispute Resolution (ADR) Summit held in Nairobi, Kenya between June 18 and 19.

According to a statement by the Special Assistant on Media to the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, Mr. Tobi Soniyi, the African judicial leaders were of the view that commercial confidence depends largely on legal certainty.

They emphasised how structured Alternative Disputes Resolution could enhance commercial justice, protect the business environment and support the AfCFTA.

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In her contribution, the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun urged called on African judiciaries to proactively prepare for emerging challenges to disputes resolution in the continent.

Justice Kekere-Ekun, who served as Co-Chair of the session on “Financial sector disputes, tax certainty and ADR: Building commercial confidence in Africa, noted that AfCFTA represents one of the most ambitious economic integration projects in modern history.

The CJN, who stressed the importance of a proactive Judiciary to the success of AfCFTA, warned that its success would depend, not only on trade protocols, tariff reductions and economic policies, but also on the strength and reliability of the institutions that support commerce.

Justice Kekere-Ekun urged her colleagues to examine how judiciaries in the continent, central banks, tax administrations and ADR institutions could work together to reduce uncertainty, prevent disputes, strengthen investor confidence and support the realization of AfCFTA’s objectives.

She envisaged the growth of intra-African trade to inevitably generate cross-border tax disputes; foreign exchange disputes; banking and payment system disputes; digital commerce disputes; enforcement of arbitral awards; recognition of foreign judgments; and disputes arising from regional supply chains.

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The CJN, who said “African Judiciaries must proactively prepare for these emerging realities,” challenged African judicial leaders on the importance of disputes prevention mechanism.

She stated that modern commercial justice must move beyond the traditional focus on disputes resolution after conflicts arise.

“The most successful commercial systems are not those that generate the highest volumes of litigation but those that reduce the need for litigation,” she added.

Justice Kekere-Ekun, who stressed the importance of ADR, cautioned against seeing ADR as merely an alternative procedure.

She said ADR should rather be considered as a strategic tool for reducing transaction costs, preserving commercial relationships, enhancing investor confidence, reducing court congestion, improving ease of doing business and strengthening commercial certainty.

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Sharing the Nigerian experiences, Justice Kekere-Ekun cited the recent decision by the Nigerian Supreme Court in the case of EMTS v. AFDIN Ventures Ltd. & Ors. (2026), which reaffirmed important principles of commercial certainty, including respect for arbitration agreements; recognition that consent may be inferred from conduct; judicial restraint from re-litigating arbitral disputes on the merits; and the importance of finality in arbitral awards.

According to her, the decision reinforced Nigeria’s position as an arbitration-supportive jurisdiction.

She identified timely resolution of tax disputes as an important factor in ensuring certainty and recommended Nigerian tax disputes resolution mechanism which she said “offers useful example of institutional reforms that support commercial certainty.”

Justice Kekere-Ekun recommended the Nigeria’s Tax Appeal Tribunal model, which she described as one of Nigeria’s most significant innovations.

According to Mr. Soniyi, Justice Kekere-Ekun’s message to his brother justices is clear: building an African commercial environment in which investors, businesses, regulators and citizens can transact across borders with confidence, secure in the knowledge that their rights will be protected and their obligations fairly enforced.

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The summit advanced the goals of the African Chief Justices Alternative Dispute Resolution Forum (ACJADRF) to harmonize jurisprudence and establish common enforcement standards across the continent.

The CJN was, on the last day of the summit, nominated by the Chief Justice of Kenya as the Vice Chairperson of the Africa Chief Justice ADR Forum with effect from August 1, 2026. The nomination was ratified by the forum.

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How 21 Former Almajiri Children Learned to Build Computers and Drones in Months

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Twenty-one former Almajiri learners and street children are set to graduate as certified technology technicians under the Almajiri-to-Tech Initiative, a programme designed to equip vulnerable children with digital and entrepreneurial skills while addressing youth unemployment, poverty and insecurity.

How 21 Former Almajiri Children Learned to Build Computers and Drones in Months

The pioneer graduation ceremony is scheduled to hold on July 29 in Abuja, where the graduates will demonstrate practical skills, including assembling computers and drones, before government officials, development partners, members of the diplomatic community and the media.

The initiative was founded by technology education advocate, Mr Tim Akano, in partnership with New Horizons Nigeria, an Information and Communication Technology (ICT) training organisation.

According to the organisers, the programme seeks to provide practical solutions to the growing challenge of out-of-school children by combining technology education, entrepreneurship, mentorship and character development.

The organisers said the initiative had transformed children who previously had little or no exposure to technology into technicians capable of repairing laptops, desktop computers, mobile phones, power banks, electric fans, microwave ovens and other electronic devices.

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They explained that the participants also received entrepreneurship training, mentorship, transportation support, daily meals, learning materials and professional work tools during the programme.

The organisers added that religious instructors from the participants’ respective faiths regularly visited the trainees to provide moral guidance, describing character development as a critical component of the initiative.

Unlike many vocational interventions that end with the presentation of certificates, the organisers said graduates of the programme would receive start-up support, while outstanding participants would be provided with professional work tools to establish their own businesses.

They also disclosed plans to launch a business directory and customer contact platform that would enable individuals, businesses and organisations to engage the services of the graduates.

Speaking on the initiative, Akano, who is also the Managing Director and Chief Executive Officer of New Horizons System Solutions Ltd., said the programme was conceived as a practical response to the challenges of youth unemployment, insecurity, poverty and irregular migration.

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“You do not end migration by building higher walls. You do not defeat insecurity by relying only on military force, and you do not end poverty by preaching patriotism.

“You solve these challenges by building hope where hopelessness exists, equipping young people with practical skills, and creating opportunities where they live,” he said.

According to him, the pilot programme has demonstrated that children who have experienced neglect and exclusion can become innovators, entrepreneurs and contributors to national development when provided with quality education and opportunities.

He said one of the trainees, Mohammed, who arrived from the Niger Republic without speaking English, had acquired sufficient language proficiency within months to communicate confidently with customers while carrying out computer and electronics repairs.

Another participant, Fatima, discovered her interest in poetry during the programme and produced a poem celebrating New Horizons Nigeria, reflecting the broader personal development fostered by the initiative.

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The organisers said the programme was inspired by concerns over the growing number of out-of-school children in Nigeria, estimated at about 30 million, and the broader global challenge of millions of children without access to education.

They argued that investing in digital skills, entrepreneurship and mentorship for vulnerable children offers a sustainable approach to addressing poverty, insecurity, youth unemployment and violent extremism.

As part of efforts to sustain the programme, the foundation said it had established a fully equipped workshop known as “The Almajiri Republic Workshop” in Wuse II, Abuja.

The workshop, according to the organisers, will serve as a commercial repair centre where graduates can provide computer and electronics repair services while continuing to strengthen their technical expertise.

The foundation called on the Presidency, federal and state governments, Ministries, Departments and Agencies (MDAs), members of the National Assembly, development partners, donor agencies, corporate organisations, civil society groups, religious institutions and other stakeholders to support the expansion of the initiative across Nigeria.

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It maintained that scaling up the programme could transform millions of vulnerable children into skilled professionals capable of contributing to economic growth while reducing poverty, unemployment and insecurity.

The organisers said local and international media organisations, including CNN, BBC, Al Jazeera and ARISE News, had been invited to witness the graduation ceremony and the practical demonstrations by the pioneer graduates.

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