United Bank for Africa Plc has announced the retirement of its Group Chairman, Mr. Tony O. Elumelu, CFR, from the Board of Directors. His retirement is set for August 21, 2026, upon the completion of the 12-year tenure limit prescribed for Non-Executive Directors of Banks by the Central Bank of Nigeria.
At a meeting held on July 6, 2026, the Board accepted Mr. Elumelu’s retirement. They subsequently elected Mr. Emmanuel N. Nnorom, a Non-Executive Director of the Bank, as his successor, with the appointment also taking effect from August 21, 2026.
The Board expressed profound appreciation for Mr. Elumelu’s visionary leadership and exceptional contributions to the UBA Group’s strategic vision and institutional strength. His tenure marked a defining chapter in the Group’s history.
Under Mr. Elumelu’s stewardship, UBA transformed into a pan-African institution. It now operates in 20 African countries and 4 global financial centres, serving over 50 million customers across its network.
Commenting on his retirement, Mr. Tony O. Elumelu, CFR, stated, “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.”
Mr. Nnorom is a chartered accountant with over forty years’ experience in banking, finance, and audit. He brings extensive leadership experience and deep institutional knowledge of UBA to his new role.
Upon his appointment, Mr. Emmanuel N. 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 recognized as Africa’s Global Bank. It provides retail, commercial, and institutional banking services across twenty African countries, as well as in the United Kingdom, the United States of America, France, and the United Arab Emirates.
UBA is one of the largest employers in the African financial sector, with 25,000 employees group-wide. The bank serves over 50 million customers globally, leading financial inclusion efforts and implementing cutting-edge technology.
