‘My journey didn’t start with money’ — Elumelu shares lessons from managing a bank at 27

Tony Elumelu, chairman of the United Bank for Africa (UBA), says trust — not money –was the foundation of his journey to becoming one of Africa’s leading entrepreneurs.

In a post on Twitter on Friday, Elumelu recalled being appointed branch manager at AllStates Trust Bank at age 27, a decision made by Ebitimi Banigo, the then chairman of the bank.

“At 27, I was given the opportunity of a lifetime: branch manager at AllStates Trust Bank, Nigeria, by HRM Ebitimi Banigo,” he said.

“Many doubted a young man could lead a bank branch. That chance changed the entire course of my life. It gave me confidence, a platform, and perspective.”

Elumelu said his experience taught him three key lessons: that age is not a barrier, trust is the most powerful capital, and leadership is about providing clarity and empowering others.

“If you can execute, are hungry to learn, and committed to results — you can lead at any age. Leadership is about clarity of vision and that discipline to execute,” he said.

“My journey didn’t start with money — it started with trust. Trust was the seed that propelled everything else. Give young people trust, and they will surprise you.

“Leadership is not about doing everything yourself. It is about empowering, setting direction, and providing clarity. The sooner you learn this, the faster you grow.”

This belief, he said, drives the Tony Elumelu Foundation’s (TEF) commitment to supporting young entrepreneurs across Africa.

“It is the reason we invest in Africa’s youth at the Tony Elumelu Foundation, because someone once invested in me,” he said.

The business mogul said his story proves that when “we trust in our youth, they are ready to lead, grow, and transform our continent”.