United Bank for Africa (UBA) Plc has announced the retirement of its Group Chairman, Tony O. Elumelu, CFR, with effect from August 21, 2026, following the completion of the 12-year tenure limit for Non-Executive Directors of banks as stipulated by the Central Bank of Nigeria (CBN). The bank disclosed in……
United Bank for Africa (UBA) Plc has announced the retirement of its Group Chairman, Tony O. Elumelu, CFR, with effect from August 21, 2026, following the completion of the 12-year tenure limit for Non-Executive Directors of banks as stipulated by the Central Bank of Nigeria (CBN).
The bank disclosed in a statement that its Board of Directors, at a meeting held on July 6, 2026, accepted Elumelu’s retirement and unanimously elected Non-Executive Director, Emmanuel N. Nnorom, as the new Group Chairman. His appointment will take effect from August 21, 2026.
The Board commended Elumelu for what it described as his visionary leadership and immense contribution to the growth and institutional strength of the UBA Group, noting that his tenure marked a defining period in the bank’s history.
According to the statement, UBA expanded significantly under Elumelu’s leadership, transforming into a pan-African financial institution with operations in 20 African countries and four global financial centres, while growing its customer base to more than 50 million.
Nnorom, a chartered accountant with over 40 years of experience in banking, finance and audit, was described by the Board as a seasoned leader who brings extensive institutional knowledge and leadership experience to the position.
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Speaking on his retirement, Elumelu reflected on his time at the bank, expressing confidence in its future under the incoming chairman.
“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 thanked the Board for the confidence reposed in him and pledged to build on the bank’s achievements.
“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.
United Bank for Africa Plc operates in 20 African countries as well as the United Kingdom, the United States, France and the United Arab Emirates. The bank employs about 25,000 people across its operations and provides retail, commercial and institutional banking services to more than 50 million customers worldwide.
