United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony O. Elumelu, CFR, will retire from the Board of Directors on August 21, 2026, following the completion of the 12-year tenure limit for non-executive directors prescribed by the Central Bank of Nigeria (CBN).
The announcement was made after the bank’s Board of Directors meeting held on July 6, 2026, where the Board accepted Elumelu’s retirement and approved the appointment of Emmanuel N. Nnorom, a Non-Executive Director of the bank, as the new Group Chairman, effective August 21, 2026.
Tony Elumelu Ends a Transformational Era at UBA
UBA described Elumelu’s tenure as one of the most significant periods in the bank’s history, crediting his leadership with transforming the financial institution into one of Africa’s leading banking groups.
During his time as Chairman, UBA expanded its footprint to 20 African countries and established operations in four major global financial centres—the United Kingdom, United States, France and the United Arab Emirates. The bank now serves more than 50 million customers worldwide.
The Board commended Elumelu for his visionary leadership, strategic direction and commitment to strengthening the institution’s governance and long-term growth.
Emmanuel Nnorom to Take Over as UBA Group Chairman
Elumelu’s successor, Emmanuel N. Nnorom, is a chartered accountant with more than four decades of experience spanning banking, finance and audit. Having served as a Non-Executive Director on UBA’s Board, Nnorom brings extensive institutional knowledge and leadership experience to his new role.
His appointment is expected to ensure continuity in the bank’s strategic direction while reinforcing its corporate governance framework.
Tony Elumelu Reflects on His UBA Journey
Speaking on his retirement, Elumelu described serving UBA as one of the greatest honours of his professional career.
“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.”
Nnorom Pledges to Build on UBA’s Legacy
Responding to his appointment, Nnorom expressed appreciation to the Board for the confidence reposed in him and pledged to sustain the bank’s growth trajectory.
“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.”
About UBA
United Bank for Africa Plc, widely known as Africa’s Global Bank, operates across 20 African countries with international operations in the United Kingdom, United States, France and the United Arab Emirates. The bank provides retail, commercial and institutional banking services, employs over 25,000 people across its operations and serves more than 50 million customers globally.
The leadership transition marks the end of an era under Tony Elumelu while positioning UBA for its next phase of growth under Emmanuel Nnorom’s chairmanship.
