United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony Elumelu, will retire from the bank’s Board of Directors on August 21, 2026.
Naijaonpoint reports that the bank disclosed this on Monday after its board meeting, explaining that the decision followed the completion of the maximum 12-year tenure for non-executive directors as prescribed by the Central Bank of Nigeria (CBN).
UBA also announced that Emmanuel Nnorom, a current non-executive director on the board, will succeed Elumelu as Group Chairman.
Nnorom’s appointment will take effect on the same day Elumelu retires.
In a statement issued after the meeting, the bank commended Elumelu for what it described as his visionary leadership and contribution to the growth of the UBA Group.
“The Board places on record its profound appreciation to Elumelu for his visionary leadership and exceptional contribution to the strategic vision and institutional strength of the UBA Group,” the statement read.
The bank said under Elumelu’s chairmanship, UBA strengthened its pan-African expansion strategy and now operates in 20 African countries, with presence in four global financial centres.
It added that the bank currently serves more than 50 million customers across its network.
