UBA WELCOMES NNOROM AS CHAIRMAN AS ELUMELU EXITS

United Bank for Africa Plc has appointed Emmanuel Nnorom as its new Group Chairman following the retirement of Tony Elumelu, who is stepping down after 12 years on the bank’s board.

Nnorom’s appointment takes effect on August 21, 2026, the same day Elumelu’s retirement becomes effective. The transition follows the Central Bank of Nigeria’s corporate governance guidelines, which limit non-executive directors of banks to a maximum tenure of 12 years.

UBA’s board accepted Elumelu’s retirement at its meeting on July 6 and subsequently elected Nnorom, who previously served as a non-executive director, as his successor.

The bank credited Elumelu with playing a significant role in its transformation into a pan-African financial institution with operations across 20 African countries and four global financial centres.

During his tenure, UBA also expanded its customer base to more than 50 million customers, strengthening its position as one of Africa’s leading banking groups.

Nnorom brings more than 40 years of experience in banking, finance and auditing to the role. He is a Fellow of the Institute of Chartered Accountants of Nigeria and has extensive board and financial-sector experience.

Elumelu expressed confidence in Nnorom’s ability to lead the bank, describing him as a leader with integrity, experience and sound judgement.

Nnorom said he was conscious of the legacy he was inheriting and pledged to work with the board, management and employees across UBA’s markets to sustain the bank’s growth and create long-term value for shareholders and other stakeholders.

The leadership transition marks the beginning of a new chapter for UBA while maintaining continuity in its boardroom leadership.