United Bank for Africa (UBA) Plc has announced the retirement of its Group Chairman, Tony O. Elumelu, and the appointment of Emmanuel N. Nnorom as his successor, effective August 21, 2026.
The bank said Elumelu will step down from the Board after completing the 12-year tenure limit for non-executive directors of banks as prescribed by the Central Bank of Nigeria.
The decision was approved at a meeting of the Board of Directors held on July 6, 2026, where Nnorom, currently a Non-Executive Director, was elected to succeed Elumelu.
In a statement, the Board commended Elumelu for his visionary leadership and significant contributions to the growth and institutional development of the bank during his tenure.
According to the bank, Elumelu oversaw the transformation of UBA into a leading pan-African financial institution with operations in 20 African countries and four global financial centres, serving more than 50 million customers.
Commenting on his retirement, Elumelu described his years of service as one of the greatest privileges of his career.
He expressed confidence in the future of the bank, saying Nnorom possesses the integrity, experience and sound judgment required to sustain UBA’s growth trajectory.
Responding to his appointment, Nnorom said he was honoured by the confidence reposed in him by the Board and pledged to work closely with the bank’s management and employees across all its markets to build on the institution’s achievements while delivering long-term value to shareholders, customers and other stakeholders.
Nnorom, a chartered accountant with more than four decades of experience in banking, finance and audit, brings extensive leadership experience and institutional knowledge to the role.
UBA 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 provides retail, commercial and institutional banking services to over 50 million customers worldwide.
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