Elumelu to Retire as UBA Chairman in 2026, Nnorom Named Successor

Tony Elumelu is set to retire as the Group Chairman of United Bank for Africa (UBA) on August 21, 2026, marking the end of his 12-year tenure.

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Serving UBA 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.

Elumelu's departure follows the Central Bank of Nigeria's prescribed 12-year limit for Non-Executive Directors. The bank's board has elected Emmanuel N. Nnorom, a current Non-Executive Director, to succeed him. The decision was made during a board meeting on July 6, 2026.

The board expressed deep gratitude for Elumelu's "visionary leadership and exceptional contribution" to UBA's strategic vision and institutional strength. Under his leadership, UBA expanded significantly, becoming a pan-African institution with operations in 20 African countries and four global financial centers, serving over 50 million customers.

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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.

Nnorom, a chartered accountant with over four decades of experience in banking, finance, and audit, brings extensive leadership experience and deep knowledge of UBA to the role. Elumelu expressed confidence in Nnorom's ability to lead the bank, stating, "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."

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I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit.

Nnorom, in turn, conveyed his honor and awareness of the legacy he inherits. "I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit," he said. "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."

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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.