United Bank for Africa (UBA) Plc has announced that its Group chairman, Tony Elumelu, will retire from the Board effective August 21, 2026, upon completing the 12-year maximum tenure for non-executive directors of banks prescribed by the Central Bank of Nigeria.
The Bank stated this in a statement signed by its Group company secretary/legal counsel, Bili Odum, released on the Nigerian Exchange.
The Bank said, “at its meeting held on July 6, 2026, the Board accepted Elumelu’s retirement letter and elected Mr. Emmanuel Nnorom, a non-executive director of the Bank, as his successor, with effect from August 21, 2026.”
The Bank commended Elumelu for his visionary leadership and exceptional contribution to the growth, transformation and institutional strength of the UBA Group.
It added that “Nnorom is a chartered accountant with over forty years’ experience in banking, finance and audit. He brings to the role extensive leadership experience and deep institutional knowledge of UBA.”
Speaking on his retirement, Elumelu said, “Serving United Bank for Africa has been one of the great privileges of my career. UBA has a unique competitive position, across Africa and globally, and I leave the Board with great confidence in UBA’s future.”
He stated that “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.”
On his appointment, Nnorom said, “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.”