…Elumelu to step down August 21, 2026 after 12 years; Nnorom to take over
United Bank for Africa Plc, UBA, has announced that its Group Chairman, Mr. Tony O. Elumelu, CFR, will retire from the Board on August 21, 2026, in line with the Central Bank of Nigeria’s 12-year tenure limit for Non-Executive Directors of banks.
The Board confirmed the decision at its meeting held on July 6, 2026, and also approved the appointment of Mr. Emmanuel Nnorom as Elumelu’s successor, effective August 21, 2026. Nnorom currently serves as a Non-Executive Director on the UBA Board.
The Board described Elumelu’s tenure as “a defining chapter” in UBA’s history.
Under his leadership, UBA expanded from a Nigerian bank into a pan-African financial institution now operating in *20 African countries* and *4 global financial centres* — the UK, USA, France, and the UAE. The bank now serves over 50 million customers globally.
The Board expressed “profound appreciation” to Elumelu for his visionary leadership and role in strengthening UBA’s strategic vision and institutional capacity.
In his remarks, Tony Elumelu said: “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.”
Emmanuel N. Nnorom is a chartered accountant with over 40 years’ experience in banking, finance, and audit. He brings extensive leadership experience and deep institutional knowledge of UBA to the role.
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.”
United Bank for Africa Plc is _Africa’s Global Bank_. With operations in 20 African countries plus the UK, US, France and UAE, UBA provides retail, commercial and institutional banking services.
The bank is a leader in financial inclusion and technology-driven banking, with 25,000 employees group-wide and over 50 million customers worldwide.
