After 12 years as chairman of United Bank for Africa (UBA), Tony Elumelu will step down on August 21, 2026. At the same time, the bank has named Emmanuel Nnorom as his successor.
According to thecable, UBA announced the leadership change after a meeting of its Board of Directors. According to the bank, Elumelu’s retirement follows the completion of the maximum tenure allowed for non-executive directors under the Central Bank of Nigeria’s corporate governance guidelines.
The decision marks an important leadership transition for one of Africa’s leading financial institutions. Over the years, Elumelu has helped shape UBA’s growth strategy. In addition, he supported the bank’s expansion across Africa and into other international markets.
At the same meeting, the board approved Nnorom as the incoming chairman. However, his appointment will take effect on August 21, the day Elumelu officially leaves office. It also remains subject to the required regulatory approvals.
Reacting to the announcement, Elumelu described serving as UBA chairman as one of the greatest privileges of his professional career. He also thanked the board, management, employees, customers and shareholders for their trust and support throughout his tenure.
Furthermore, he expressed confidence in Nnorom’s ability to lead the bank into its next phase of growth. According to Elumelu, the incoming chairman has the experience, integrity and leadership needed to build on UBA’s achievements.
Meanwhile, UBA said Nnorom has made significant contributions during his years on the board. The bank added that his appointment reflects its commitment to continuity, sound corporate governance and long-term stability.
The Tony Elumelu retirement comes as UBA continues to strengthen its position in the African banking industry. During his tenure, the bank expanded its footprint across several countries. It also maintained a strong focus on innovation, customer service and sustainable growth. As a result, UBA reinforced its reputation as one of Africa’s leading financial institutions.
Moreover, the board expressed confidence that the leadership transition would be smooth. It said the bank remains committed to sustaining the progress achieved over the past decade. At the same time, it plans to pursue new opportunities for growth and deliver greater value to customers and shareholders.
Overall, the Tony Elumelu retirement marks the end of an important chapter in UBA’s history. Nevertheless, the bank believes the planned succession process will ensure stability. Going forward, Emmanuel Nnorom is expected to build on the foundation laid during Elumelu’s 12-year tenure.
The Tony Elumelu retirement also reflects UBA’s commitment to orderly leadership succession and strong corporate governance. Consequently, the bank expects the transition to support its long-term vision while maintaining confidence among investors, customers and other stakeholders.
