UBA Unveils New Chairman As Tony Elumelu Prepares To Exit Board

United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony Elumelu, will retire from the bank’s Board of Directors on August 21, 2026, following the completion of his regulatory tenure.....KINDLY READ THE FULL STORY HERE▶

The announcement was made on Monday after a meeting of the bank’s Board of Directors. UBA said Elumelu’s retirement is in line with the Central Bank of Nigeria (CBN) guideline, which limits the tenure of non-executive directors to a maximum of 12 years.

The bank also confirmed the appointment of Emmanuel Nnorom, currently a non-executive director, as the incoming Group Chairman. His appointment will take effect on the same date Elumelu officially steps down.

In a statement issued after the board meeting, UBA paid tribute to Elumelu’s leadership, describing his tenure as instrumental to the bank’s transformation and sustained growth.

“The Board places on record its profound appreciation to Elumelu for his visionary leadership and exceptional contribution to the strategic vision and institutional strength of the UBA Group,” the statement said.

According to the bank, Elumelu played a key role in advancing UBA’s pan-African expansion strategy, helping the financial institution establish operations in 20 African countries while extending its footprint to four global financial centres.

UBA added that the group now serves more than 50 million customers across its network, reflecting the significant growth achieved during Elumelu’s time as chairman.