The United Bank of Africa’s (UBA) has announced the retirement of its Group Chairman, Tony Elumelu, from his role following the completion of his 12-year tenure.
As contained in a statement issued on Monday by the UBA Group Head, Marketing and Corporate Communications, Alero Ladipo, Elumelu will step down from the Board of Directors on the 21st of August, 2026, marking an end to his 12-year tenure limit prescribed for Non-Executive Directors of Banks by the Central Bank of Nigeria (CBN).
According to Alero, the Board had at its meeting held on earlier today accepted Mr. Elumelu’s retirement and elected Mr. Emmanuel N. Nnorom, a Non-Executive Director of the Bank, as his successor, with effect from 21 August 2026.
The Board expressed its profound appreciation to Mr. Elumelu for his visionary leadership and exceptional contribution to the strategic vision and institutional strength of the UBA Group.
Elumelu’s tenure, according to the statement, has been a defining chapter in the Group’s history.
Under his stewardship, UBA was transformed into a pan African institution, operating in 20 African countries and four global financial centres and serving over 50 million customers.
Meanwhile, Nnorom, a chartered accountant with over forty years’ experience in banking, finance and audit is expected to bring to the role extensive leadership experience and deep institutional knowledge of UBA.
Commenting on his retirement, Elumelu described serving UBA as one of the greatest privileges in his career while expressing confidence in the bank’s continued growth under the leadership of Nnorom.
“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.
On his part, Nnorom, expressed his gratitude to the Board for entrusting him with the role.
“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.
United Bank for Africa Plc is Africa’s Global Bank. Operating across twenty African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.
UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 50 million customers globally.