Elumelu

President Bola Tinubu on Sunday met with private sector leaders to discuss the cost of living crisis in the country and efforts to address the problem. Those at the meeting include Africa’s richest man and owner of Dangote industries, Aliko Dangote; industrialist AbdulSamad Rabiu and banker Tony Elumelu. The meeting, held at the Presidential Villa Abuja, discussed “the economy, food security and security of the nation,” Mr Dangote told journalists after the meeting. According to an official transcript of the…

Nigerian tycoon Tony Elumelu and his family upped their stake in Transnational Corporation Plc (Transcorp) to more than one-third, taking their combined interest in the conglomerate to 14.6 billion shares. At a market price of N3.53 per share on Wednesday, the Elumelus’ stake in Transcorp comes to over N51.6 billion. The magnate, his relatives, his fully-owned investment firm, HH Capital, and the family-owned investment company, Heirs Holdings, now hold at least a 36 per cent stake between them, according to…

Nigerian businessman Femi Otedola has accused the chairman of Transnational Corporation of Nigeria (Transcorp), Tony Elumelu, of backstabbing him repeatedly at his most vulnerable moments in business. Mr Otedola made the revelation in a statement that marks his first public intervention in the recent battle for the soul of Transcorp, obtained exclusively by PREMIUM TIMES. The billionaire recently divested his newly acquired stake in Transnational Corporation of Nigeria (Transcorp) to Mr Elumelu, pulling the plug…

Nigerian businessman Femi Otedola has described his interest in the Transnational Corporation of Nigeria (Transcorp) as one driven by the need to unlock the company’s full potential and create value for shareholders. Mr Otedola made the revelation in a statement that marks his first public intervention in the recent battle for the soul of Transcorp. He was responding to repeated enquiries made to him by PREMIUM TIMES regarding why he acted the way he did in the Transcorp transaction. “I offered to buy Transcorp…

Reader survey As a reader of PREMIUM TIMES, your opinion matters. Please take our survey to help us better understand the values and preferences of our readers. Your feedback will give us valuable insights into how we can tailor the different types of content we offer to meet your needs. The survey should only take about 6-8 minutes to complete. Click here to take it. Nigerian businessman Femi Otedola divested his newly acquired stake in Transnational Corporation of Nigeria (Transcorp) to Chairman Tony…

Reader survey As a reader of PREMIUM TIMES, your opinion matters. Please take our survey to help us better understand the values and preferences of our readers. Your feedback will give us valuable insights into how we can tailor the different types of content we offer to meet your needs. The survey should only take about 6-8 minutes to complete. Click here to take it. Tony Elumelu, the chair of Transnational Corporation Plc (Transcorp), has acquired fresh 9.7 billion shares in separate deals in recent…

Billionaire businessman and the Chairman of the United Bank for Africa (UBA) Group, Tony Elumelu, clocked 60 last week and celebrated the milestone with entrepreneurs making an impact in communities across Africa. As part of activities held to celebrate him, a symposium was held in the Tony Elumelu Amphitheatre, UBA House, Marina, Lagos. Dubbed ‘60 for 60’, the event had friends, family members as well as 60 beneficiaries of the Tony Elumelu Foundation Entrepreneurship Programme. The entrepreneurs acknowledged…

Tony Elumelu, the chairperson of United Bank for Africa, said he became a bank chief executive at the age of 34, one of the youngest in the industry at that time, by a dint of hardwork and luck. He was the CEO of the defunct Standard Bank at the time before a business combination with UBA saw him become the chief executive of the new larger entity. “I owed my accelerated career and successes to two things: hard work and luck, and I know firsthand how these factors are inextricable in success,” Mr Elumelu said in…

The Lagos State Governor, Babajide Sanwo-Olu, and business leader and philanthropist, Tony Elumelu, led other real estate stakeholders over the weekend in the groundbreaking ceremony for the new Falomo Towers development in Ikoyi, Lagos. The project is being developed by joint venture partners, Afriland Properties Plc, investee company of the Heirs Holdings Group, and the Lagos State Development and Property Corporation (LSDPC). The Special Guest of Honour, Mr Sanwo-Olu, in his address,…