Tony Elumelu, Chairman of Heirs Holdings, has revealed that he made an unsolicited $1 million investment in Afrinvest West Africa following the 2008 global financial crisis, without documentation or formal agreements, trusting the company's leadership to repay the funds when business conditions improved. Elumelu disclosed this in a post on his Facebook page after receiving a courtesy visit from Afrinvest Group Managing Director, Dr Ike Chioke, and members of the company's senior leadership team, following the repayment of the investment with interest. According to Elumelu, the investment was driven by his confidence in Chioke's leadership, resilience and ability to steer the financial services firm through difficult times.
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