Tony Elumelu-linked distribution company sends 800 workers home
About 800 workers at AEDC linked to Nigerian investor Tony Elumelu, were laid off this week as part of a company restructuring
Tony Elumelu
Tony Elumelu’s Transcorp relocates turbines to lift Nigeria’s power supply
Tony Elumelu’s Transcorp has relocated four turbines to Delta State to boost power generation as gas supply improves across Nigeria.
Nigerian businessman Tony Elumelu’s Transcorp grows profit 20% to $62 million in nine months
Transcorp, chaired by Nigerian businessman Tony Elumelu, reports a 20% profit rise to $62 million, boosted by power and hospitality growth.
Transcorp Power, linked to Tony Elumelu, posts $210 million nine-month revenue
Transcorp Power, linked to Nigerian tycoon Tony Elumelu, reports $210 million nine-month revenue driven by higher power generation and steady operational efficiency.
Tony Elumelu set to pocket $1.11 million dividend as UBA profit climbs in H1 2025
Tony Elumelu nets over US$1.1 million as UBA posts modest profit growth and boosts asset base in tough economic climate.
Tony Elumelu now owns over 16 percent of UBA
Tony Elumelu raises UBA holdings to 16.38 percent worth $211 million, reinforcing his influence as one of Nigeria’s richest businessmen.
Tony Elumelu's UBA faces Ghana FX ban
The Bank of Ghana has suspended UBA Ghana’s foreign exchange licence, piling pressure on Tony Elumelu.
Nigerian businessman Tony Elumelu’s Transcorp reports $183 million in half-year revenue
Transcorp posts $183 million H1 2025 revenue, with assets rising to $592 million across power, hospitality, and energy sectors.
Why Tony Elumelu is betting big on UBA with a stake worth over $80 million
In Elumelu’s world, control is currency, and UBA is the crown jewel he’s determined to protect.
Tony Elumelu, UBA executives spend $19 million on travel in 2024
This expense was part of the $445 million classified under “other operating expenses” in 2024, an increase from $242.7 million the previous year.
Tony Elumelu’s UBA stake falls below $60 million
Elumelu faced a similar setback in 2024 when UBA’s 32.55% stock gain was erased by naira devaluation, cutting his stake’s value $17 million.
Why Tony Elumelu isn't a dollar billionaire yet
Reports have speculated that his net worth stands at $2.15 billion, but Forbes remains the recognized authority in wealth rankings—anything else is just speculation.
Tony Elumelu faces $18 million loss in UBA stake
This highlights the challenges posed by Nigeria’s volatile currency on shareholder wealth.
UBA targets Saudi Arabia for expansion by 2025
Pan-African bank eyes Middle Eastern growth as profits surge.
UBA pursues $143.6-million rights issue for African expansion
UBA seeks $143.6 million in new capital to drive expansion across Africa.