Tony Elumelu Shares How Becoming a Bank Branch Manager at 27 Changed His Life
- At age 27, Tony Elumelu was appointed branch manager at AllStates Trust Bank, a rare opportunity that became a turning point in his career.
- He said this early opportunity and the trust placed in him gave him confidence and laid the foundation of his successful career.
- This experience led him to create the Tony Elumelu Foundation, which supports thousands of young African entrepreneurs through funding and mentorship.
Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology, Banking and the Economy.
Renowned Nigerian economist, banker, and philanthropist Tony Elumelu recently shared a powerful reflection on a defining moment in his early career, his appointment as a bank branch manager at just 27 years old.
Source: UGC
The Chairman of Heirs Holdings and founder of the Tony Elumelu Foundation took to LinkedIn to recount how this pivotal opportunity at AllStates Trust Bank played a transformative role in his life and future path.
At a time when the Nigerian banking sector was evolving rapidly and still heavily reliant on traditional leadership hierarchies, it was rare, even radical, to entrust such a position of responsibility to someone so young.
Yet, in the mid-1990s, Elumelu was offered the chance to lead a branch at AllStates Trust Bank, a then-emerging player in Nigeria’s financial services industry.
Elumelu wrote:
“At that time, few believed a 27-year-old could successfully lead a bank branch. But that opportunity changed the entire course of my life. It gave me confidence. It gave me a platform. Most importantly, it gave me perspective."
At the time, the Nigerian economy was undergoing liberalisation under military rule, with banks expanding and competing in new ways.
This context offered ambitious young professionals like Elumelu the chance to prove themselves.
Rather than being stifled by age or inexperience, Elumelu rose to the challenge, laying the foundation for what would become a storied career, including the eventual acquisition and transformation of Standard Trust Bank, and later the merger with United Bank for Africa (UBA), a pan-African banking group now operating in over 20 countries.
This experience also became the inspiration behind his philanthropic mission.
Elumelu invested in Africa's entrepreneurs
Through the Tony Elumelu Foundation, established in 2010, he has since empowered over 15,000 African entrepreneurs with funding, training, and mentorship.
He stated:
"That’s why today, I am passionate about giving young people the same chance I was given. Because I know what’s possible when someone believes in you early.This belief is at the heart of everything we do at The Tony Elumelu Foundation. It’s why we invest in young African entrepreneurs - because someone once invested in me."
Looking back, Elumelu, who is always willing to share success tips, credits the early trust placed in him as a catalyst for his success.
He added:
"My journey didn’t begin with capital. It began with trust. Let’s keep believing in Africa’s youth. They are ready to lead, grow and transform our continent."
Elumelu’s story serves as a reminder that leadership potential should not be constrained by age, and that with trust and opportunity, young Africans can become powerful agents of change.
Source: UGC
Elumelu commits N25bn to Lagos food security drive
Meanwhile, Legit.ng earlier reported that Elumelu pledged N25 billion to support the Produce for Lagos Program, an initiative designed to strengthen food security and stimulate economic development in the state.
The project, introduced in collaboration with strategic partners, aims to tackle unemployment, improve agricultural supply chains, and lower the cost of food items for residents.
With this investment, the program is expected to enhance Lagos’ food sustainability while driving broader economic growth.
Source: Legit.ng
