Chairman of United Bank for Africa (UBA) Plc, Tony Elumelu, is set to exit from the bank’s Board of Directors on August 21, 2026, marking the end of his 12-year tenure as a non-executive director.
The bank also confirmed the appointment of Emmanuel N. Nnorom as the new Group Chairman. Nnorom, who currently serves as a non-executive director on the board, will officially assume the role on the same date Elumelu steps down.
The leadership transition was approved during a UBA board meeting held on July 6, 2026, according to a statement released by the financial institution.
Elumelu’s retirement is in compliance with the Central Bank of Nigeria (CBN’s) corporate governance guidelines, which prescribe a maximum 12-year tenure for non-executive directors of banks. His tenure will expire on August 21, 2026.
The bank praised Elumelu’s leadership, describing his tenure as a defining period that strengthened UBA’s position as one of Africa’s leading financial institutions.
According to the statement, the board expressed its appreciation for his strategic direction and contributions to the bank’s long-term growth.
During Elumelu’s time as chairman, UBA expanded its operations across Africa and strengthened its international footprint.
The lender now operates in 20 African countries as well as four global financial centers, serving more than 50 million customers.
The bank said this expansion has reinforced its status as one of the continent’s largest banking groups.
Commenting on his departure, Elumelu described serving UBA as one of the defining moments of his professional career.
He said he was leaving with confidence in the institution’s future, adding that the bank has established a strong competitive position across Africa and internationally.
Elumelu also expressed confidence in his successor, describing Emmanuel Nnorom as a leader with integrity, extensive experience, and sound judgment.
Incoming chairman Emmanuel Nnorom is a chartered accountant with more than 40 years of experience spanning banking, finance, and auditing.
UBA said his deep understanding of the institution and extensive leadership background make him well-positioned to guide the board through its next phase of growth.
Reacting to his appointment, Nnorom said he was honoured by the confidence reposed in him by the board and pledged to build on the bank’s achievements.
He said he looks forward to working with the board, management, and employees across UBA’s markets to sustain growth while delivering long-term value to shareholders, customers, and other stakeholders.
The leadership handover is scheduled to take effect on August 21, 2026, when Elumelu formally retires from the board and Nnorom assumes the position of Group Chairman.
The transition marks the end of an era for one of Nigeria’s most influential banking leaders while ushering in new leadership at one of Africa’s largest financial institutions.
Packaged by Lanre Olabisi
