Tony Elumelu's Transcorp H1 profit falls 17% to $39 million as power revenue slides
Tony Elumelu's Transcorp posted a 16.6 percent drop in first-half profit to $39.4 million as gas shortages cut output at its power plants.
Tony Elumelu
Nigerian businessman Tony Elumelu to retire as UBA chairman, Nnorom to take over
Tony Elumelu will step down as UBA Group chairman on August 21 after 12 years, with veteran banker Emmanuel Nnorom named as his successor.
Billionaire Tony Elumelu's Heirs Energies commissions a digital nerve centre to run Nigeria's OML 17 oilfield from a single screen
Tony Elumelu's Heirs Energies has commissioned a digital operations hub at OML 17 that integrates real-time monitoring, security and production data into a single platform.
Nigerian billionaire Tony Elumelu credits his success to luck
Tony Elumelu told a YouTube interviewer he got rich by luck. Coming from one of Africa's most relentlessly driven billionaires, the admission stopped people cold.
Billionaire Femi Otedola owns more of FirstHoldCo than fellow bank chairmen Elumelu, Aig-Imoukhede or Ovia ever did
Femi Otedola now owns 20.42 percent of FirstHoldCo, more than any sitting Nigerian banking chairman, and the comparison with Elumelu, Aig-Imoukhede and Ovia tells a compelling story.
Tony Elumelu's United Capital acquires 5-percent stake in Nigerian Exchange Group
United Capital, the Pan-African group backed by financier Tony Elumelu, has completed the acquisition of a 5% equity stake in Nigerian Exchange Group.
Nigerian tycoon Tony Elumelu named Seplat Energy chairman
Tony Elumelu will become Seplat Energy chairman in January 2027 as Effiong Okon takes over as CEO in August, completing a sweeping leadership transition at Nigeria's largest indigenous energy company.
Tony Elumelu's United Capital wins historic Ethiopia investment banking licence in first for foreign firms
Nigeria's United Capital Group has secured Ethiopia's first investment banking licence ever issued to a foreign institution, committing over $1.5 million to launch local operations.
Tony Elumelu's Heirs Energies wins global award for landmark $750 million oil financing deal
Tony Elumelu's Heirs Energies has won Best Oil & Gas Deal of the Year for its $750 million financing with Afreximbank, one of Africa's largest indigenous energy deals.
Tycoon Tony Elumelu's Heirs Insurance hits two million customers, ranks among Africa's fastest-growing companies in 5 years
Tony Elumelu's Heirs Insurance Group has reached two million customers and ranked seventh on the Financial Times Africa fastest-growing companies list for 2026.
Tony and Awele Elumelu make TIME100 Philanthropy list for seeding African entrepreneurs
Tony Elumelu and his wife Awele have made TIME's 2026 philanthropy list, recognized for seeding over 27,000 African entrepreneurs across all 54 countries on the continent.
Tony Elumelu's Heirs Holdings-backed Redtech debuts on Financial Times Africa's fastest-growing companies list
Tony Elumelu's Heirs Holdings-backed Redtech has debuted on the Financial Times Africa's Fastest Growing Companies 2026 list, ranking 32nd out of 130.
Dangote Group calls reports of rift with Tony Elumelu false and malicious
The Dangote Group has dismissed reports alleging a rift between Aliko Dangote and Tony Elumelu, threatening legal action against anyone spreading the claims.
UBA shares drop 10% in early morning trading as investors punish the bank for withholding dividends, wiping N34.7 billion off Tony Elumelu's stake
UBA shares fell 10% Monday after the bank declared no final dividend for FY2025, erasing N34.7 billion from Tony Elumelu's stake in a single morning session.
Tony Elumelu's UBA posts N405 billion profit in 2025
UBA posted N405 billion profit in 2025, down 47% from N767 billion in 2024, as the FX trading gains that padded last year's earnings reversed sharply.
Aliko Dangote makes TIME100 for the 2nd time as Tony Elumelu writes the tribute
Aliko Dangote has been named to the 2026 TIME100 list of the world's most influential people for the 2nd time, with his profile penned by Tony Elumelu — who Dangote himself profiled on the same list six years ago.