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
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.
Heirs Energies pledges to advance sustainable energy at African Energy Week 2024
Heirs Energies is set to drive sustainable energy solutions at African Energy Week 2024, aligning with Tony Elumelu’s vision for transforming Africa’s energy sector.
Transcorp's revenue surpasses $180 million in the first nine months of 2024
Tony Elumelu, chairman of Transcorp Group.
Nigerian tycoon Tony Elumelu to co-chair New Africa Summit at Saudi Arabia’s Future Investment Initiative
Tony Elumelu, chairman of UBA and founder of the Tony Elumelu Foundation, will co-chair the New Africa Summit at the 8th Future Investment Initiative in Riyadh, advocating for Africa’s economic role on the global stage.
UBA posts $320.9-million profit in 9M 2024
This growth was bolstered by improved fee income and robust foreign exchange earnings, highlighting UBA's adaptability in volatile markets.
Transcorp Power's nine-month profit surges to over $35 million
Transcorp Power’s strong revenue growth across segments boosts earnings above $35 million.
Tony Elumelu’s Heirs Insurance Group sees premiums surge to $19.8 million
Heirs Insurance Group, led by Elumelu, achieved a remarkable 59.3-percent growth in gross written premiums in 2023, highlighting its transformative impact on Nigeria's insurance industry.
Nigerian tycoon Tony Elumelu's UBA posts $189.6-million profit in H1 2024
The double-digit decline in profits can be attributed to UBA’s higher expenses, coupled with a drop in trading and foreign exchange gains.
Nigerian businessman Tony Elumelu's UBA targets $20-trillion revenue in 25 years
The goal, announced by UBA Group Managing Director and CEO Oliver Alawuba, underscores the bank’s vision to become one of the world’s top 10 banks over the next 25 years.
