United Bank for Africa (UBA) has announced that its Group Chairman, Tony Elumelu, will retire from the bank’s Board of Directors on August 21, 2026, after completing the maximum 12-year tenure for non-executive directors allowed under the Central Bank of Nigeria (CBN) corporate governance guidelines.
The bank also announced that Emmanuel N. Nnorom, a long-serving Non-Executive Director on the UBA board, will succeed Elumelu as Group Chairman, with his appointment taking effect on the same date.
In a statement, UBA praised Elumelu’s leadership, saying he transformed the institution from a Nigerian lender into “Africa’s Global Bank.” During his tenure as chairman, the bank expanded its operations to 20 African countries and established a presence in four global financial centres, now serving more than 50 million customers.
Reacting to the announcement, Elumelu expressed gratitude for his years of service, describing his time at UBA as one of the greatest privileges of his career. He said he was confident the bank would continue to thrive under Nnorom’s leadership, describing his successor as a leader of integrity, experience, and sound judgment.
Nnorom is an experienced banker and corporate governance expert who has served on UBA’s board for several years. His appointment is expected to ensure continuity as the bank pursues its pan-African growth strategy
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