BREAKING: After 12 Years at the Helm, UBA Appoints New Chairman As Tony Elumelu Retires
United Bank for Africa (UBA) Plc has announced that its Group Chairman, Mr Tony O. Elumelu, will retire from the Board of Directors on Aug. 21, 2026, upon completing the 12-year tenure limit for non-executive directors prescribed by the Central Bank of Nigeria (CBN).
The bank disclosed this in a statement issued following a meeting of its Board of Directors held on July 6.
According to the statement, the board accepted Elumelu’s retirement and elected Mr Emmanuel N. Nnorom, a Non-Executive Director of the bank, as his successor with effect from Aug. 21, 2026.
The board expressed appreciation to Elumelu for what it described as his visionary leadership and immense contributions to the growth and institutional development of the UBA Group.
It noted that under his leadership, UBA expanded into a leading pan-African financial institution with operations in 20 African countries and four global financial centres, serving more than 50 million customers.
The board described Elumelu’s tenure as a defining period in the bank’s history.
Nnorom, who will assume office as chairman upon Elumelu’s retirement, is a chartered accountant with more than 40 years of experience in banking, finance and auditing.
The statement said he brings extensive leadership experience and deep institutional knowledge of the bank to his new role.
Speaking on his retirement, Elumelu described serving UBA as one of the greatest privileges of his professional career.
“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.
“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,” he said.
Responding to his appointment, Nnorom expressed gratitude to the board for the confidence reposed in him.
“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.
UBA operates in 20 African countries as well as the United Kingdom, the United States, France and the United Arab Emirates.
The bank provides retail, commercial and institutional banking services and serves more than 50 million customers globally, with a workforce of about 25,000 employees across its operations.
