United Bank for Africa (UBA) has announced that its Group Chairman, Tony O. Elumelu, will retire from the Board of Directors on August 21, 2026, after completing the maximum 12-year tenure for non-executive directors stipulated by the Central Bank of Nigeria (CBN).
The bank also confirmed the appointment of Emmanuel N. Nnorom as the new Group Chairman. His appointment will take effect on the same date, following his election by the Board at its meeting on July 6, 2026.
In a statement signed by Group Head of Marketing and Corporate Communications, Alero Ladipo, the Board praised Elumelu’s leadership, describing his 12-year tenure as transformative for the bank.
According to the Board, UBA expanded significantly under Elumelu’s chairmanship, growing into a pan-African financial institution with operations in 20 African countries and four international financial centres, while serving more than 50 million customers worldwide.
Reflecting on his retirement, Elumelu said it had been a privilege to serve the bank, expressing confidence that UBA would continue to thrive under Nnorom’s leadership.
Nnorom, a chartered accountant with more than four decades of experience in banking, finance and auditing, thanked the Board for the confidence reposed in him and pledged to build on the bank’s achievements.
He said he would work closely with the Board, management and staff across all markets to sustain UBA’s growth and continue delivering value to shareholders, customers and other stakeholders.
UBA, widely known as Africa’s Global Bank, operates in 20 African countries as well as the United Kingdom, the United States, France and the United Arab Emirates. The bank employs about 25,000 people and serves more than 50 million customers globally.