United Bank for Africa (UBA) has announced that its Group Chairman, Tony Elumelu, will retire from the Board on August 21, 2026, after completing the maximum 12-year tenure for Non-Executive Directors as stipulated by the Central Bank of Nigeria.

At its meeting on July 6, 2026, the Board accepted Elumelu’s retirement and appointed Non-Executive Director Emmanuel Nnorom as the incoming Group Chairman, effective August 21.

The Board praised Elumelu for his outstanding leadership, noting that under his stewardship UBA expanded into a leading pan-African financial institution with operations in 20 African countries and four international financial centres, serving more than 50 million customers.

,Reflecting on his departure, Elumelu described leading UBA as one of the greatest honours of his career, expressing confidence that the bank would continue to grow under Nnorom’s leadership.

Nnorom, a chartered accountant with over 40 years of experience in banking, finance and auditing, thanked the Board for the confidence reposed in him and pledged to build on the bank’s achievements while delivering long-term value to shareholders, customers and other stakeholders.

UBA currently operates across 20 African countries, as well as the United Kingdom, the United States, France and the United Arab Emirates, with a workforce of about 25,000 employees.