The United Bank for Africa Plc has announced that Tony O. Elumelu, the Group Chairman of UBA, will retire from its Board of Directors on August 21, 2026, and also named his replacement.
This comes as he completes the 12-year tenure limit prescribed for Non-Executive Directors of Banks by the Central Bank of Nigeria (CBN).
This was confirmed by the Group Head, Marketing and Corporate Communications, UBA, Alero Ladipo, in a statement on Monday.
Ladipo said the Board at its meeting on July 6, 2026 accepted Elumelu’s retirement and elected Emmanuel N. Nnorom, a Non-Executive Director of the Bank, as his successor with effect from August 21, 2026.
The statement added: “The Board places on record its profound appreciation to Mr. Elumelu for his visionary leadership and exceptional contribution to the strategic vision and institutional strength of the UBA Group.
“Mr. Elumelu’s tenure has been a defining chapter in the Group’s history.
“Under his stewardship, UBA was transformed into a pan African institution, operating in 20 African countries and 4 global financial centres and serving over 50 million customers.
“Mr. Nnorom is a chartered accountant with over forty years’ experience in banking, finance and audit. He brings to the role extensive leadership experience and deep institutional knowledge of UBA.”
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.
“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.”
On his appointment, Nnorom said: “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.”
United Bank for Africa Plc is Africa’s Global Bank.
Operating across 20 African countries and in the United Kingdom, United States of America, France and United Arab Emirates, UBA provides retail, commercial, and institutional banking services, leading financial inclusion and implementing cutting edge technology.
UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 50 million customers globally.