United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony Elumelu, will step down from office on August 21, 2026, after completing the maximum 12-year tenure for non-executive directors as stipulated by the Central Bank of Nigeria (CBN).
The bank’s Board has approved the appointment of Emmanuel Nnorom, currently serving as a non-executive director, as the new Group Chairman.
Nnorom will officially assume office on August 21, 2026, ensuring a seamless transition in the bank’s leadership.
Elumelu’s departure brings to a close a remarkable era at UBA, where he has served as Group Chairman since 2014.
During his tenure, he spearheaded the bank’s expansion across Africa, strengthened corporate governance, and championed strategic growth initiatives.
Under his leadership, UBA increased its footprint to 20 African countries while expanding operations in key international financial centres.
The achievements further reinforced UBA’s reputation as one of Africa’s foremost financial institutions.
In his farewell message, Elumelu described his time leading the bank as one of the greatest honours of his professional career.
He expressed confidence that the bank would continue to thrive under Emmanuel Nnorom’s leadership.
The leadership change marks a new chapter for UBA as it pursues further expansion while maintaining its long-term strategy and commitment to delivering value to shareholders and customers.
