United Bank for Africa Plc, UBA, has announced that Mr. Tony O. Elumelu, CFR, will retire as Group Chairman of the bank on 21 August 2026, upon completion of the 12-year tenure limit for Non-Executive Directors of Banks prescribed by the Central Bank of Nigeria.
The announcement followed a Board meeting held Monday July 6, 2026.
At the meeting, the Board accepted Mr. Elumelu’s retirement and elected Mr. Emmanuel N. Nnorom, a current Non-Executive Director of the bank, as his successor effective 21 August 2026.
Board commends Elumelu’s tenure
The Board expressed appreciation to Elumelu for his leadership and contribution to the bank’s strategic vision and institutional strength.
The statement noted that his tenure was a defining period for the Group.
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.
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.”
New Chairman profile
Mr. Nnorom is a chartered accountant with over forty years’ experience in banking, finance and audit.
The Board said he brings extensive leadership experience and deep institutional knowledge of UBA to the role.
On his appointment, Mr. 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 described as Africa’s Global Bank. It operates in twenty African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates.
UBA provides retail, commercial and institutional banking services.
The bank reports having 25,000 employees group wide and serving over 50 million customers globally.
