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Business News of Friday, 20 January 2023


Hardwork and Luck: Tony Elumelu identifies major driving force to his successful career

Tony Elumelu Tony Elumelu

Nigerian entrepreneur and Chairman of Heirs Holdings, Transcorp and founder of the Tony Elumelu Foundation have highlighted the two major driving forces of his successful career.

The philanthropist made this known as the Board of Trustees of the Tony Elumelu Foundation, the leading philanthropy empowering young African entrepreneurs from all 54 African countries announced the appointment of Somachi Chris-Asoluka as Chief Executive Officer, following the retirement of current CEO, Ifeyinwa Ugochukwu.

In a LinkedIn post, Elumelu shared how hard work and luck led to his appointment as CEO of Standard Trust Bank at age 34.

He noted that his "appointment came at a time of fast-paced change in our industry, reform-minded policymakers had opened up paths for consolidation and strengthening our sector."

He added that the "competition was intense but the youth was not a barrier."