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United Bank for Africa (UBA) has announced the retirement of its Group Chairman, Tony Elumelu, with effect from August 21, 2026, after completing the 12-year tenure limit for non-executive directors stipulated by the Central Bank of Nigeria.
The bank also announced the appointment of Emmanuel N. Nnorom as the new Group Chairman. His appointment will take effect on the same date following Mr. Elumelu’s retirement.
The decision was taken at the Board of Directors’ meeting held on July 6, 2026, where the Board accepted Elumelu’s retirement and unanimously elected Nnorom, currently a Non-Executive Director of the bank, as his successor.
In a statement, the Board paid tribute to Elumelu for what it described as his visionary leadership and outstanding contribution to strengthening the institution and shaping its long-term strategic direction.
According to the bank, Elumelu’s tenure marked a defining period in UBA’s history, during which the lender evolved into one of Africa’s leading financial institutions with operations in 20 African countries and four global financial centres, serving more than 50 million customers.
The Board expressed confidence that the leadership transition would ensure continuity and sustain the bank’s growth trajectory across its African and international markets.
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Nnorom, a chartered accountant with more than four decades of experience spanning banking, finance and auditing, is expected to bring extensive leadership expertise and deep institutional knowledge to the role.
Speaking on his retirement, Elumelu described his years at the bank as one of the greatest privileges 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,” he said.
Responding to his appointment, Nnorom pledged to build on the bank’s achievements and maintain its focus on delivering value to stakeholders.
“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,” he said.
UBA, widely known as Africa’s Global Bank, operates across 20 African countries as well as in the United Kingdom, the United States, France and the United Arab Emirates. The bank provides retail, commercial and institutional banking services, employs about 25,000 people across its operations, and serves more than 50 million customers worldwide.
