By Adegbenro Barakat Opeyemi (SIWES Student, Moshood Abiola Polytechnic)
Tony Elumelu, Chairman of Heirs Holdings Group, Transcorp Group, and UBA Group, emphasizes MOFI’s pivotal role in unlocking Nigeria’s asset value.
Speaking at a recent seminar in Abuja organized by the Ministry of Finance Incorporated, Elumelu stressed the necessity of a high-performance environment, excellence culture, corporate governance, risk management, and non-interference for MOFI’s success.
Drawing insights from Temasek, founded in 1974, Elumelu highlighted its transformation from a $300 million asset entity to a $300 billion powerhouse today.
He underscored the importance of leadership, sustainable ecosystems, data management, competency development, and political support in MOFI’s journey towards becoming a global wealth management institution.
Elumelu praised Temasek’s active investment management, advocating for a similar approach to drive growth and value creation in Nigeria.
He emphasized long-term thinking, excellence, and robust corporate governance as vital pillars for success, prioritizing implementation and tangible rewards.
Elumelu expressed readiness to collaborate with MOFI to harness wealth from national assets and businesses, citing the transformational journey of Heirs Holdings Group, Transcorp Group, and UBA.
Notable milestones include the revitalization of Crystal Bank into Standard Trust Bank and Transcorp’s expansion into energy, particularly the successful acquisition and capacity growth of the Ughelli Power Plant.
