United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony Elumelu, will retire from the bank’s board on August 21, 2026, after completing the maximum 12-year tenure permitted for non-executive directors under Central Bank of Nigeria (CBN) corporate governance rules.
CDA News Nigeria gathered that the decision was reached at a board meeting held on Monday, July 6, 2026, where directors also approved the appointment of Emmanuel Nnorom, a current non-executive director, as the incoming Group Chairman. Nnorom’s appointment takes effect the same day Elumelu officially exits.
The bank commended Elumelu’s leadership, noting that his tenure strengthened UBA’s position as a pan-African financial institution now spanning 20 African countries and four global financial centres, with a customer base exceeding 50 million.
Elumelu described his years leading the board as one of the defining experiences of his career, expressing confidence that the bank would continue thriving under Nnorom’s leadership.
Nnorom, a chartered accountant with over 40 years of experience in banking, finance and auditing, previously served in several executive roles at UBA, including Group Chief Operating Officer and Managing Director of UBA Africa. He currently serves as Group Chief Executive Officer of Heirs Holdings.
Responding to his appointment, Nnorom pledged to sustain UBA’s momentum and deliver long-term value to shareholders, customers, and stakeholders across the bank’s markets.
The leadership transition is expected to ensure continuity in UBA’s governance and long-term growth strategy.
All rights reserved ©2026 CDA News Nigeria. Contact: info@cdanews.ng, www.cdanews.ng, +2348030980314 | 348 Ikwerre Road, Port Harcourt, Rivers State.
