Elumelu Retires as UBA Chairman; Nnorom Succeeds Him

Toni Elumelu, the Group Chairman of United Bank for Africa (UBA), will retire from the board of directors on August 21, 2026, upon completing the 12-year tenure limit prescribed for non-executive directors by the Central Bank of Nigeria (CBN). This decision was made during a board meeting held on July 6, 2026.

Emmanuel N. Nnorom, a non-executive director at UBA, has been elected as Elumelu's successor, effective August 21, 2026.

The board expressed profound appreciation for Elumelu's visionary leadership and significant contributions to UBA's strategic vision and strength, noting that his tenure has defined a pivotal chapter in the bank's history. UBA operates across 20 African countries and serves 50 million customers globally.

Nnorom brings over 40 years of experience in banking and finance, and the board is confident in his ability to lead UBA into the future.