The United Bank for Africa (United Bank for Africa) Plc has announced that its Group Chairman, Mr. Tony O. Elumelu, CFR, will retire from the Board on August 21, 2026, following the completion of the 12-year tenure limit for non-executive directors of banks as prescribed by the Central Bank of Nigeria.
According to a statement issued after the Board meeting held on July 6, 2026, the Board formally accepted Mr. Elumelu’s retirement and approved the appointment of Mr. Emmanuel N. Nnorom, a Non-Executive Director, as his successor with effect from the same date.
The Board expressed deep appreciation to Mr. Elumelu for what it described as his visionary leadership and outstanding contribution to the strategic growth and institutional strength of the banking group.
It noted that under his leadership, UBA underwent significant transformation, expanding into a leading pan-African financial institution with operations in 20 African countries and four global financial centres, while serving over 50 million customers.
Mr. Nnorom, a chartered accountant with over four decades of experience in banking, finance and audit, was described as bringing extensive leadership capacity and deep institutional knowledge to his new role.
In his remarks on retirement, Mr. Elumelu said serving UBA had been a privilege, adding that the institution had secured a strong competitive position across Africa and internationally. He expressed confidence in the future of the bank and described his successor as a leader of integrity and sound judgement.
Mr. Nnorom, in his acceptance remarks, said he was honoured by the appointment and mindful of the legacy he inherits, pledging to work with the Board, management and staff across all markets to sustain the bank’s momentum and deliver value to shareholders and customers.
United Bank for Africa described itself as Africa’s global bank, operating across 20 African countries as well as in the United Kingdom, United States, France and the United Arab Emirates. The bank provides retail, commercial and institutional banking services, with a workforce of about 25,000 employees and a customer base exceeding 50 million worldwide.
