According to a report by Premium Times on June 26, 2026, United Bank for Africa (UBA) Chairman Tony Elumelu has reflected on his entrepreneurial journey, saying discipline, patience and long-term investment decisions were key to his success.
Speaking during an interview with the U.S.-based platform The School of Hard Knocks, Elumelu recalled facing criticism after acquiring Crystal Bank in 1997, with some industry observers dismissing him as a “joker” over what they considered a risky investment. He said he remained committed to his vision despite the scepticism.
The 63-year-old businessman said he did not come from a wealthy background and built his career through persistence and careful financial planning. He advised aspiring entrepreneurs to prioritise long-term growth over immediate rewards and to invest in assets that create lasting value.
Sharing a personal example, Elumelu said he deliberately postponed buying a car and instead invested in property during the early years of his career.
“You know, even deciding not to buy a car and instead saving the money to acquire property. I didn’t have a car for a long time. So today, this is the fourth private jet I’m flying. But I didn’t have a car growing up,” he said.
