Tony Elumelu retires as UBA Group Chairman after 12 years; Emmanuel Nnorom takes over
Tony O. Elumelu announced his retirement as Group Chairman of United Bank for Africa Plc (UBA) from the Board of Directors effective August 21, 2026. His retirement follows the completion of the 12-year tenure limit prescribed for Non-Executive Directors of banks by the Central Bank of Nigeria. At a Board meeting held on July 6, 2026, UBA accepted Mr. Elumelu's retirement and elected Emmanuel N. Nnorom, a Non-Executive Director of the bank, as his successor, with the appointment taking effect on August 21, 2026.
UBA described Mr. Elumelu's tenure as a defining period, crediting his leadership with transforming the institution into a Pan-African financial group that expanded operations across 20 African countries and four global financial centres, serving more than 50 million customers worldwide. The Board expressed appreciation for his "visionary leadership and exceptional contribution." Mr. Nnorom is a chartered accountant with more than 40 years of experience in banking, finance, and audit. Mr. Elumelu commented, "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." He added that Emmanuel Nnorom is "a leader of integrity, experience and sound judgement."
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Tony O. Elumelu is set to retire as Group Chairman of United Bank for Africa Plc (UBA) after completing his 12-year tenure limit. His departure
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