By Francis Ajuonuma
United Bank for Africa (UBA) Plc has announced the retirement of its Group Chairman, Tony Elumelu, from the Board effective August 21, 2026, following the completion of the 12-year tenure prescribed for non-executive directors by the Central Bank of Nigeria.
The bank also announced the appointment of Non-Executive Director Emmanuel Nnorom as the new Group Chairman, with effect from the same date.
The decision was approved at the Board meeting held on July 6, 2026.
In a statement signed by the Group Head, Marketing and Corporate Communications, Alero Ladipo, the bank said the Board accepted Elumelu’s retirement and unanimously elected Nnorom as his successor while expressing appreciation for his leadership and contribution to the institution’s growth.
During Elumelu’s tenure, UBA expanded its footprint across 20 African countries and four international financial centres, growing into one of Africa’s largest banking groups with more than 50 million customers.
Nnorom, a chartered accountant with over four decades of experience in banking, finance and audit, is expected to provide continuity in the bank’s strategic direction, having served on the Board as a Non-Executive Director.
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.”
He expressed confidence in his successor, describing Nnorom as “a leader of integrity, experience and sound judgement.”
Responding to his appointment, Nnorom pledged to build on the institution’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.”
UBA operates in 20 African countries as well as the United Kingdom, the United States, France and the United Arab Emirates, employing about 25,000 people across its operations.
