- UBA Announces Tony Elumelu’s Retirement, Names New Group Chairman
- Emmanuel Nnorom has been appointed to succeed Elumelu as chairman.
- UBA praised Elumelu’s leadership and pan African expansion achievements.
United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony Elumelu, will retire from the Board of Directors on August 21, 2026.
The bank disclosed the development in a statement issued on Monday following a meeting of its Board of Directors.
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EKO HOT BLOG reports that
According to UBA, Elumelu’s retirement follows the completion of the maximum 12 year tenure for non executive directors as stipulated by the Central Bank of Nigeria (CBN) Corporate Governance Guidelines.
The bank also announced the appointment of Emmanuel Nnorom, a current non executive director, as the incoming Group Chairman.
His appointment will take effect on August 21, 2026, the same day Elumelu officially steps down from the board.
UBA expressed appreciation to Elumelu for his leadership and contributions to the growth and transformation of the financial institution.
“The Board places on record its profound appreciation to Elumelu for his visionary leadership and exceptional contribution to the strategic vision and institutional strength of the UBA Group,” the statement read.
The bank noted that under Elumelu’s leadership as Group Chairman, UBA strengthened its pan African expansion strategy, growing its operations across the continent and beyond.
According to the bank, UBA now operates in 20 African countries and maintains a presence in four major global financial centres.
The financial institution also stated that it currently serves more than 50 million customers through its extensive network across Africa and internationally.
The appointment of Nnorom is expected to ensure continuity in the bank’s leadership as UBA continues to pursue its growth strategy across regional and international markets.
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