By Emmanuel Olugua
United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony O. Elumelu, will retire from the Board of Directors on August 21, 2026, after completing the 12-year tenure limit for non-executive directors prescribed by the Central Bank of Nigeria.
The decision was taken at the Board meeting held on July 6, 2026, where directors formally accepted Elumelu’s retirement and unanimously elected Emmanuel N. Nnorom, a Non-Executive Director of the bank, as his successor. His appointment takes effect from August 21, 2026.
The Board paid glowing tribute to Elumelu for what it described as his visionary leadership and immense contribution to the strategic growth and institutional strength of the bank.
According to the Board, Elumelu’s tenure marked a defining era in UBA’s history, during which the financial institution evolved into a truly pan-African banking group with operations in 20 African countries and four global financial centres, serving more than 50 million customers.
Nnorom, a chartered accountant with over four decades of experience in banking, finance, and audit, was praised for his extensive leadership credentials and deep understanding of the institution, qualities the Board believes will ensure continuity in UBA’s growth trajectory.
Reflecting on his retirement, Elumelu described serving UBA as one of the greatest privileges of his career.
He said the bank had built a unique competitive position across Africa and internationally, expressing confidence that it would continue to flourish under Nnorom’s leadership.
“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,” he said.
Responding to his appointment, Nnorom said he was honoured by the confidence reposed in him by the Board and fully aware of the responsibility of succeeding Elumelu.
He pledged to work closely with the Board, management and employees across UBA’s markets to sustain the bank’s momentum and continue delivering long-term 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 across its operations and serves over 50 million customers worldwide.