United Bank for Africa (UBA) has announced that its Group Chairman, Tony Elumelu, will conclude his 12-year tenure on August 21, 2026, with Emmanuel N. Nnorom named as his successor.
The announcement was made in a statement issued by the bank on Monday, in which UBA paid tribute to Elumelu’s leadership, describing his tenure as transformative in positioning the bank as one of Africa’s leading financial institutions with a presence across the continent and beyond.
The bank credited Elumelu with driving UBA’s growth from a Nigerian bank into what it described as “Africa’s Global Bank,” connecting African businesses to global opportunities through innovation, resilience, and purpose.
“For decades, his leadership has shaped UBA into one of Africa’s most respected financial institutions; expanding our footprint across the continent and beyond, connecting African businesses to global opportunities, and proving that an African institution can compete confidently on the world stage. From a Nigerian bank to Africa’s Global Bank, UBA today serves millions across Africa and beyond, connecting people, businesses and economies through innovation, resilience and purpose.
“We express our deepest appreciation to Mr. Tony Elumelu for his extraordinary leadership, unwavering belief in Africa, and lasting contribution to UBA’s remarkable journey.
“As we turn the page, we do so with confidence. The next chapter of UBA will continue to be guided by the same ambition that has shaped our story from the beginning: building Africa’s leading financial institution, enabling trade and investment, empowering businesses and communities, and creating sustainable value across the continent and beyond.
“The institution endures. The vision continues. And the future has never looked brighter.”
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In a post on social media, Elumelu described the transition as one filled with gratitude, pride, and optimism, saying it reflected both the fulfilment of a vision and the promise of greater opportunities ahead.
According to him, leadership is not about holding on to a position but recognising when an institution is ready for its next chapter.
“I conclude my tenure as Chairman of the Group Board of United Bank for Africa (UBA), on August 21, 2026, after twelve years and decades of association with this extraordinary institution, with profound gratitude, immense pride, and most importantly – great optimism for the future.
“My objective was to build an institution that would outlive individuals, one capable of connecting Africa to itself and the world, creating opportunities for businesses, empowering entrepreneurs, supporting governments, rewarding shareholders, and transforming lives. Together, we pursued the belief that Africa deserved a world-class financial institution that remained proudly African at its core. We set out to do something that had not been done. We took a Nigerian bank and we made it an African one, Africa’s global bank. This has been my vision for UBA – the United Bank for Africa.
“Today, that vision is reality. UBA Group serves over 50 million customers, operates across 20 African countries and four continents, supports trade and investment, and demonstrates that an African institution can compete globally, while being deeply committed to our continent’s development.
“This success belongs to generations of dedicated colleagues, exceptional management, visionary directors, loyal customers, supportive regulators, committed shareholders, and partners who believed in our shared purpose.”
Welcoming Nnorom’s appointment, Elumelu expressed confidence in his successor’s ability to lead the bank into its next phase of growth.
He said Nnorom’s experience, leadership, and deep understanding of the institution would provide the continuity and strategic direction required to build on the strong foundation already established.
Elumelu also urged UBA’s shareholders, customers, and partners to extend to Nnorom the same trust and support they had given him throughout his tenure.
Nnorom, a business executive, is currently the group chief executive officer of Heirs Holdings, Chairman of Transcorp Hotels Plc. He is also a former president and chief executive officer of Transnational Corporation of Nigeria Plc (Transcorp Plc).