Tony Elumelu to Retire as UBA Chairman in 2026

Tony Elumelu, the current Group Chairman of United Bank for Africa (UBA), will step down from his position on August 21, 2026. This decision aligns with the Central Bank of Nigeria's regulations, which prescribe a maximum tenure of 12 years for non-executive directors.

Emmanuel Nnorom, a current non-executive director, has been appointed as Elumelu's successor. The announcement was made during a board meeting, where the bank expressed profound appreciation for Elumelu's visionary leadership and contributions to UBA's strategic vision and strength.

Under Elumelu's chairmanship, UBA expanded its operations across 20 African countries and four global financial centers, serving 50 million customers. Elumelu acknowledged his years of service and expressed optimism for the future of UBA, emphasizing the potential for continued leadership and development in Africa.

His tenure will conclude as the bank continues to align with the Central Bank of Nigeria's corporate governance guidelines.