JUST IN: UBA announces Elumelu’s exit, names Emmanuel Nnorom new chairman

Tony Elumelu will step down as Group Chairman of United Bank for Africa (UBA) Plc on August 21, 2026, after reaching the Central Bank of Nigeria’s (CBN) 12-year tenure limit for non-executive directors.

The UBA Board has approved the appointment of Emmanuel Nnorom, currently a non-executive director, as the incoming Group Chairman.

His appointment will take effect on the same date, paving the way for a smooth leadership transition.

Elumelu’s exit marks the end of a significant chapter in the bank’s history. Since becoming Group Chairman in 2014, he has overseen UBA’s expansion across Africa, strengthened its corporate governance framework, and driven strategic growth.

Under his leadership, the bank expanded its presence to 20 African countries while also growing its operations in major global financial centres, further cementing UBA’s position as one of Africa’s leading financial institutions.

In his farewell remarks, Elumelu described leading the bank as one of the greatest privileges of his career and expressed confidence that UBA would continue its growth trajectory under the new leadership.

The transition comes as UBA positions itself for its next phase of expansion while maintaining continuity in its long-term strategy and commitment to delivering value to shareholders and customers.

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