Tony Elumelu retires as UBA chairman, Nnorom takes over

Tony Elumelu is stepping down as Group Chairman of United Bank for Africa (UBA) Plc, marking the end of a significant era for the Pan-African financial institution. His retirement from the Board of Directors is effective August 21, following his tenure which began in 2014.

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The Board places 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.

Emmanuel Nnorom has been appointed as the incoming Group Chairman and Non-Executive Director, with his new role also commencing on August 21. The leadership transition received approval during a board meeting on Monday. The bank's board expressed deep gratitude for Elumelu's "visionary leadership and exceptional contribution," noting that his time at UBA was one of its most transformative periods.

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UBA was transformed into a pan-African institution, operating in 20 African countries and four global financial centres and serving over 50 million customers.

Under Elumelu's leadership, UBA expanded its reach to 20 African countries and four global financial centers, serving over 50 million customers. The bank highlighted this transformation into a leading pan-African institution as a key achievement of his tenure.

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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.

Elumelu described his time at UBA as a "defining experience" and expressed confidence in the bank's future, particularly under Nnorom's leadership. He called Nnorom a leader of "integrity, experience, and sound judgement." Nnorom, a chartered accountant with over four decades of experience in banking, finance, and auditing, stated his commitment to building on UBA's achievements and delivering long-term value.

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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.