MON JULY 06 2026-theGBJournal| United Bank for Africa Plc (UBA) said today that the Group Chairman Tony O. Elumelu will retire from the board on August 21, 2026, marking the end of a 12-year tenure that reshaped one of Africa’s largest financial institutions and cemented his influence on Nigeria’s banking industry.
The transition also closes another chapter in the career of one of Africa’s most prominent corporate leaders, whose impact extends beyond banking into the energy sector through investments that have helped expand indigenous participation in Nigeria’s oil and gas industry.
UBA said Non-Executive Director Emmanuel N. Nnorom will succeed Elumelu as Group Chairman, with effect from 21 August 2026, ensuring leadership continuity at a lender that has grown into one of the continent’s most expansive banking franchises.
The announcement marks the conclusion of a leadership tenure that the bank described as one of the most significant periods in its history.
During Mr. Elumelu’s stewardship, UBA evolved from a leading Nigerian lender into a truly pan-African banking institution, reinforcing his reputation as one of the architects of modern African banking.
The Board placed 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.
According to the bank, Mr. Elumelu’s tenure 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 while serving more than 50 million customers.
The lender now has operations across Africa as well as in the United Kingdom, the United States of America, France and the United Arab Emirates, making it one of the continent’s most internationally diversified financial institutions.
His successor, Mr. Emmanuel N. Nnorom, is a chartered accountant with more than forty years’ experience in banking, finance and audit.
UBA said he brings to the role extensive leadership experience and deep institutional knowledge of the bank, positioning him to oversee the next phase of the group’s expansion and strategic development.
Commenting on his retirement, Mr. Tony O. Elumelu, CFR, 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.”
Responding to his appointment, Mr. Emmanuel N. 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, branded as Africa’s Global Bank, operates across twenty African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, providing retail, commercial and institutional banking services while leading financial inclusion and implementing cutting-edge technology.
UBA is one of the largest employers in Africa’s financial sector, with 25,000 employees across the Group and more than 50 million customers globally.
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