United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony O. Elumelu, CFR, will retire from the Board of Directors 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 the new Group Chairman with effect from August 21, 2026.
UBA disclosed the changes in a statement issued on Monday after a Board meeting held on July 6, 2026, during which directors formally accepted Elumelu’s retirement and unanimously elected Nnorom as his successor.
The Board paid glowing tribute to Elumelu, describing his tenure as a defining era in the bank’s history. It commended his visionary leadership and significant contributions to the strategic direction and institutional strength of the UBA Group.
According to the Board, UBA was transformed under Elumelu’s stewardship into a truly pan-African financial institution with operations in 20 African countries and four global financial centres, serving more than 50 million customers worldwide.
Commenting on his retirement, Elumelu said serving UBA had been one of the greatest privileges of his 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.
Nnorom, a chartered accountant with more than 40 years of experience in banking, finance and audit, expressed appreciation for the confidence reposed in him by the Board.
“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, widely known as Africa’s Global Bank, operates across 20 African countries as well as in the United Kingdom, the United States, France and the United Arab Emirates. The bank employs about 25,000 people across its operations and serves more than 50 million customers globally.
