BOLAJI ELELU – Managing Partner

Bolaji is the Lead Consultant. In this capacity, he provides and drives the overall strategy of the firm, including quality assurance.

Bolaji holds a first degree in Economics (Second Class Upper) from Ahmadu Bello University Zaria – 1987, a Master of Business Administration from University of Ilorin – 1990, and a Master of Science in Finance & Management from the prestigious Cranfield University, UK – 2005

Prior to setting up Suis Properties Ltd (four years ago) and subsequently EleluElelu& Associates, Mr Elelu had over 2 decades working experience in the banking sector rising to the position of Deputy General Manager and Head Project, Structured and Development Finance in Skye Bank Plc. While in banking, he was responsible for setting up, and developing the Real Estate Finance Desk in erstwhile Prudent Bank, and Skye Bank Plc. He was involved in the financing of a number of high profile developments such as:

  • USD136million Milan Intercontinental Hotel, Victoria Island Lagos
  • Protea Westwood Hotel, Awolowo Road, Ikoyi
  • N10 billion Greensprings School development,Awoyaya, Lagos
  • N8 billion 104 units Sapphire Garden Estate, Awoyaya, Lagos
  • N3.6b 90 units Grant Properties’ Victory Park Estate, Lekki
  • N7b 351 units Adkan/FHA Abuja Model City, Gwarinpa Abuja
  • Stella Maris Secondary School, Life Camp, Abuja (development from the scratch), and expansion of the Nursery Primary School, Garki

Aside from financing, he was also charged with the responsibility of identifying opportunities for proprietary real estate investments that led to successful investment outcomes. Mr Elelu’s core competences include:

  • Strategy and Business review
  • Investment Analysis
  • Asset Selection
  • Financing
  • Investment Management
  • Financial Forecasting
  • Project incubation and management.
  • Turnaround of distress real estate investments/ Project

Mr. Elelu is an astute intellectual and strategist. In his spare time, is a regular facilitator on Financial Institution Training Center’s (F.I.T.C) programmes on subjects such as Derivatives, Corporate Finance and Project Finance.

He is married with children.

Aside from Bolaji Elelu, the firm also boast of some other key personnel with diverse and required competences. They include:

AYO BANJOKO – Senior Partner

Ayo is an experienced and accomplished banker with over 20 years’ experience in Credit Analysis, Investment Banking, Corporate Banking, Corporate Finance, Project Finance, Real Estate Finance, Reserves Based Lending and Corporate Governance. He acquired a B.Sc (Hons) in Banking & Finance from Olabisi Onabanjo University, Ago-Iwoye and M.Sc Corporate Governance from Leeds Business School, UK. He is an Associate of the Chartered Institute of Bankers of Nigeria (ACIB). He has also attended several professional and developmental courses both at home and abroad.

His banking career started with the then Co-operative Bank Plc before joining Skye Bank Plc as Head, Business Development & Investment Appraisal at the Project & Structured Finance Unit where he was involved in the successful financing and development of several real estate projects. He then became Team Lead, Oil & Gas (Upstream) Unit at the Corporate Banking Group where he financed landmark oil and gas projects before moving to the Oil & Gas (Downstream) Unit as Business Manager/Team Lead where he financed various transactions for major and independent oil marketers.He thereafter became the Senior Credit Manager at the Risk Management Group of the Bank with oversight review of Corporate Banking, Development Finance, Manufacturing and Real Estate credits.

Before joining EleluElelu& Associates as Senior Partner, Ayo was the Group Head, Energy at Express Discount Asset Management Limited (a non-banking financial institution).

He is happily married with children.


FARUQ UMAR – Research Analyst

Faruq holds a B.Sc (Hons) Economics (First Class) from Obafemi Awolowo University, Ile-Ife – 2008 and has just completed his M.Sc Economics programme at the University of Benin.

Faruq heads our research team which is currently working on a pioneering effort at developing the following:

  • Real Estate Index for Nigeria using the Laspreyes Model
  • Real Estate Trending and Forecasting Model

These two products on completion would provide the much-needed benchmarks for comparing real estate returns with other asset classes such as stock. In essence, the products would enable better understanding of the dynamics of real estate asset class and serve as “radar” for investment.

The outcome of this project would substantially alter the approach to real estate investments by institutional investors, and other savvy medium to long term players in the sector.

Faruq’s core competences are in Research and Econometrics.


TEMITOPE AMINAT AKANJI – Business Development Manager

Temitope holds a B.Sc (Hons) Economics (Second Class) from University of Ilorin – 2010 and Master of Risk Management (MRM) degree from University of Lagos – 2016.

Prior to joining Elelu, Elelu & Associates, Miss Temitope gathered valuable experience in the pension industry working for Leadway Pension Fund for 4 years from 2012 to 2016; thereafter she veered to real estate since the beginning of 2016.

Miss Temitope’s competences include Business Development, Market & Competitive Intelligence, and Risk Analysis.