Tony Elumelu, a rare gem in Africa –VP Shettima

By: Goodluck E. Adubazi, Abuja.

At a gala night to mark UBA’s 75th anniversary on Friday, 25th April 2025, at Transcorp Hilton, Abuja, the Vice President of Nigeria, Sen. Kashim Shettima, GCON, while observing the protocol and acknowledging the “crème de la crème” of Nigerian businesses present, delivered a keynote speech in which he described the Chairman of United Bank for Africa Plc (UBA), Mr. Tony Elumelu, as a rare gem in Africa.

Vice President Shettima said: “It is not every day that one witnesses the celebration of an institution that has outlived generations and still coasts with vibrancy. United Bank for Africa, simply UBA, is not what it is because of the age of its ideas; it is what it is because of the attention it pays: attention to innovation, emerging markets, shifting dreams, and whatnot,” VP Shettima stated.

Speaking further, Vice President Shettima said: “UBA has remained a pacesetter because it is led by those who know how to manage not just capital but also curiosity.

UBA’s stay in power is a shift of relevance; this is because it has embraced new thinking, expanding not just across geographies but across ideas. It serves millions, supports economies, and changes the narrative of what African institutions can become when excellence is institutionalized and when well-intentioned dream makers are in charge,” VP Shettima added.

He further stressed: “UBA attaining 75 years is proof of strong calculations through storms and sunshine, through mergers and acquisitions, and through the brainpower and quality of those who believed in its promise of a new world. That’s what leadership is,” the Vice President added.

Additionally, Sen. Shettima said: “No institution becomes history without the signature of those who believe in it. And so tonight, Your Excellencies, distinguished ladies and gentlemen, we are not just celebrating UBA but celebrating one of Africa’s finest, Mr. Tony Elumelu, CFR,” VP Shettima remarked.

Describing Tony Elumelu as a rare gem in Africa, the Vice President stated: “Tony Elumelu is not merely a dreamer, dreamers are those who stop at the ballroom. Tony Elumelu is a dream maker.”

“He has made it through the imagination of those who only wished for impact from the comfort of their homes. He has taught us to lead without breaking, without losing touch, and to dream without borders,” VP Shettima added.

Earlier, the Group Managing Director/Chief Executive Officer of UBA, Mr. Oliver Alawuba, in his welcome address, eulogized Tony Elumelu, saying: “Today, by the grace of God and through the total commitment of our people and an unwavering commitment to developing Africa, UBA is now present in 24 countries across four continents. UBA is growing, UBA is impacting lives. We have 1,000 business offices across these countries, 430 POS terminals, over 3,000 ATMs, over 25,000 staff, and we are taking care of 45 million customers,” Mr. Alawuba stated.

Further, he stated: “The story of UBA has been one of consistent achievements. We just concluded our 2024 AGM, and UBA made a profit after tax of N766 billion.”

Mr. Alawuba continued: “The total assets of UBA today stand at N30 trillion. Our shareholders are very happy with us, as UBA declared a dividend of N5 per share, giving a dividend yield of 14.5%, the highest among our peers,” the GMD/CEO remarked.

Speaking further, he said: “We are inspired to do more, driven by our unwavering commitment to putting customers first and by the tapped and untapped potentials across Africa,” Mr. Alawuba stated.

According to him, tonight’s celebration is not just a legacy of excellence, but a future of impact. “It is more than just a celebration; it is a tribute to the men and women who dared to dream and who laid the foundation for what we have become today.

It is a call to renew our collective commitment to excellence, enterprise, and execution. It is a reaffirmation of our vision to build a future that is more inclusive, digitally enabled, globally competitive, and fundamentally committed to advancing Africa’s development and prosperity,” Mr. Alawuba stated.

Mr. Alawuba added: “This evening, therefore, I would like to take a moment to specially appreciate all those who have contributed to the UBA we have today.

First, I would like to commend and appreciate our visionary Group Chairman, Mr. Tony O. Elumelu, CFR, a foremost entrepreneur, philanthropist, Pan-Africanist, and architect of the modern UBA,” Mr. Alawuba eulogized.

“Our dynamic Group Board members, Executive Management Committees, subsidiary Chairmen, MD/CEOs, and Board Members across all companies, including all former Chairmen, Board Members, and Executives at both Group and Subsidiary levels, whose stewardship built the enduring foundation we celebrate today,” he remarked.

Standard-Times Nigeria also reports that the Group Managing Director/Chief Executive Officer, UBA, Mr. Oliver Alawuba, had earlier expressed optimism about UBA’s commitment to doing more for its over 45 million customers and shareholders while speaking to journalists immediately after the 63rd Annual General Meeting of shareholders.

The UBA 75th Anniversary Gala Night featured awards presented to both current and former outstanding UBA staff members, including the Vice President of the Federal Republic of Nigeria, Sen. Kashim Shettima, and Mr. Tony Elumelu, among others.