Tony Elumelu To Retire As UBA Chairman, Emmanuel Nnorom Named Successor

United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony Elumelu, will retire from the Board on August 21, 2026, after completing the 12-year tenure limit for non-executive directors prescribed by the Central Bank of Nigeria (CBN).

The bank also announced the appointment of Emmanuel N. Nnorom, a Non-Executive Director, as its new Group Chairman with effect from August 21, following a decision reached by the Board at its meeting on July 6.

In a statement, the Board expressed “profound appreciation” to Elumelu for what it described as his visionary leadership and exceptional contributions to the strategic growth and institutional strength of the UBA Group.

It noted that his tenure marked a defining period in the bank’s history, during which UBA expanded into a pan-African financial institution with operations in 20 African countries and four global financial centres, serving more than 50 million customers.

Commenting on his retirement, Elumelu said: “Serving United Bank for Africa has been one of the great privileges of my career. UBA has established a unique competitive position, across Africa and globally, and I leave the Board with great confidence in UBA’s future.”

He added: “Emmanuel Nnorom is a leader of integrity, experience and sound judgement, and I am confident that the Bank will continue to thrive under his leadership.”

Nnorom, a chartered accountant with more than four decades of experience in banking, finance and audit, said he was honoured by the appointment.

“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit. I look forward to working with my colleagues on the Board, Management and our staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers and stakeholders,” he said.