Billionaire investor and philanthropist, Tony Elumelu, has disclosed the backstory of one of Africa’s biggest indigenous oil deals—a $2.5 billion acquisition of Shell’s oil assets, backed by Afreximbank, which led to the creation of Heirs Energies. Speaking at the 32nd Annual Meetings of the African Export-Import Bank (Afreximbank), during a …
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TONY Elumelu, chairman of the United Bank for Africa (UBA), has acquired N43.9 billion worth of shares in the financial institution within two days. Bili Odum, group company secretary, disclosed details of the transaction in a regulatory filing to the Nigerian Exchange Group (NGX) on Monday. According to the filing, …
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Heirs Holdings Founder and Group Chair, Tony O. Elumelu, CFR, has been appointed by the International Monetary Fund (IMF) to its Advisory Council on Entrepreneurship and Growth, convened by IMF Managing Director, Kristalina Georgieva. Elumelu, Africa’s leading advocate of entrepreneurship and whose Foundation has funded, mentored and trained over 25,000 …
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THE Chairman of Transcorp Group, Tony Elumelu, has urged the Federal Government to urgently prioritise security and power supply in the country to bring about the needed development. Elumelu made the call in his graduation lecture for participants of the Executive Intelligence Management Course (EIMC) 17 of the National Institute …
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AS part of the drive to eradicate malaria in Nigeria, the Federal Government has enlisted the support of prominent business leaders. The government said Aliko Dangote, Chairman of Dangote Group, Tony Elumelu, Chairman of Heirs Holdings, and Femi Otedola, Chairman of Geregu Power Plc, will lead the charge against the …
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TONY Elumelu, Chairman of Heirs Holdings and United Bank for Africa, has attributed Nigeria’s inability to meet its OPEC crude oil production quota to widespread crude oil theft. In an interview with the Financial Times, Elumelu emphasized that theft, rather than insufficient investment, is the primary obstacle to Nigeria’s oil …
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PRESIDENT Bola Tinubu, on Sunday, met with selected members of the organised private sector at the State House in Abuja. Newsextra24 reports that the President met with the businessmen ahead of the planned nationwide strike of the Nigeria Labour Congress (NLC) scheduled for tomorrow, Monday. The meeting’s agenda was not undisclosed, …
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TONY Elumelu’s Heirs Holdings got loans totalling N41.823 billion from the United Bank for Africa (UBA) at 15 percent interest rate, Economy Post has found. Elumelu is both the chairman of UBA and Heirs Holdings. He is also the founder of Tony Elumelu Foundation. Findings showed that as of December …
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How Otedola Taught Elumelu Stock 101 It was late evening at the old BGL office in Victoria Island. Abagbon close was a beautiful bungalow it was BGL, where Albert Okumagba held sway. We were asked to hang around. A big meeting was about to take place. We knew it was …
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The Elumelu brothers, Chairman UBA Group and Heirs Holding, Mr. Tony Elumelu and Minority Leader of the House of Representatives, Ndudi Elumelu, held an intimate reception after they both received national awards on Tuesday. Tony was conferred with the honour of Commander of the Order of the Federal Republic, while …
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