By Mardiyyah Abubakar
United Bank for Africa (UBA) has named Emmanuel Nnorom as its new Group Chairman following the retirement of Tony Elumelu from the bank’s Board of Directors.
Elumelu will officially step down on August 21, 2026, after completing the 12-year tenure limit for non-executive directors set by the Central Bank of Nigeria.
The bank announced the leadership change after its board meeting on July 6, where directors approved Elumelu’s retirement and elected Nnorom as his successor.
The board praised Elumelu for his leadership, describing his tenure as a defining period in UBA’s growth. Under his chairmanship, the bank expanded its operations to 20 African countries and established a presence in four global financial centres, serving more than 50 million customers.
A chartered accountant with over 40 years of experience in banking, finance and audit, Nnorom has served as a Non-Executive Director and brings extensive leadership experience to the role.
Reflecting on his retirement, Elumelu said serving UBA had been one of the greatest privileges of his career. He expressed confidence that the bank would continue to grow under Nnorom’s leadership.
Nnorom said he was honoured by the appointment and pledged to work with the board, management and staff to sustain the bank’s growth while delivering long-term value to shareholders and customers.
Founded in 1949, UBA operates across 20 African countries and maintains operations in the United Kingdom, United States, France and the United Arab Emirates. The bank employs about 25,000 people across its network.
UBA shares closed higher on Monday, gaining 3.41% to ₦42.40 after investors traded 13.77 million shares worth ₦577.82 million.
