Emmanuel Nnorom To Replace Tony Elumelu As UBA Chairman

United Bank for Africa (UBA) Plc has announced a change in its leadership, with Group Chairman Tony Elumelu set to retire from the Board of Directors on 21 August after more than a decade in the role.

The decision was approved during the bank’s board meeting on Monday, July 6, 2026.

UBA also confirmed the appointment of Emmanuel Nnorom as a Non-Executive Director and the incoming Group Chairman, with both appointments taking effect on 21 August.

The announcement was made by UBA’s Group Head of Marketing and Corporate Communications, Alero Ladipo, in a statement released on Monday.

According to the bank, Mr Elumelu’s retirement follows the Central Bank of Nigeria’s corporate governance rules, which limit the tenure of non-executive directors in banks to 12 years.

UBA praised Tony Elumelu for his leadership, saying he played a key role in strengthening the bank and expanding its reach across Africa and beyond.

“The Board places on record its profound appreciation to Mr Elumelu for his visionary leadership and exceptional contribution to the strategic vision and institutional strength of the UBA Group,” the Group said.

It said during his time as chairman, the bank grew into a leading pan-African financial institution with operations in 20 African countries and four international financial centres, serving more than 50 million customers.

“UBA was transformed into a pan-African institution, operating in 20 African countries and four global financial centres and serving over 50 million customers,” the bank said.

Reflecting on his retirement, Tony Elumelu said serving UBA had been one of the highlights of his career.

He added that he was leaving the board confident that the bank was well-positioned for continued success.

“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 said.

He also expressed full confidence in Emmanuel Nnorom, describing him as an experienced and trustworthy leader capable of guiding the bank into its next phase.

“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,” Mr Elumelu said.

Speaking after his appointment, Mr Nnorom said he was honoured by the board’s confidence in him and pledged to build on the bank’s achievements.

He said he looked forward to working closely with the board, management, and employees across UBA’s markets to create lasting value for shareholders, customers, and other stakeholders.

“I am honoured by the trust the Board has placed in me and am 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,” Nnorom said.

Mr Nnorom is a chartered accountant with more than 40 years of experience in banking, finance, and auditing.

His extensive leadership background and deep knowledge of the institution make him well-equipped to lead the board as the bank continues to grow.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), an honorary member of the Chartered Institute of Bankers of Nigeria (CIBN), and an alumnus of Templeton College, Oxford.

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