UBA ANNOUNCES LEADERSHIP CHANGE AS ELUMELU BOWS OUT, NNOROM EMERGES NEW GROUP CHAIRMAN

UBA ANNOUNCES LEADERSHIP CHANGE AS ELUMELU BOWS OUT, NNOROM EMERGES NEW GROUP CHAIRMAN
By Prince Benson Davies

United Bank for Africa Plc has set 21 August 2026 for a major leadership transition at the top of the institution. After 12 years at the helm, Mr. Tony O. Elumelu, CFR, will step down as Group Chairman in line with the Central Bank of Nigeria’s tenure limit for Non-Executive Directors of banks.

The Board confirmed the development at its meeting on 6 July 2026. The directors formally accepted Mr. Elumelu’s retirement and approved the appointment of Mr. Emmanuel N. Nnorom, currently a Non-Executive Director, as his successor effective 21 August 2026.

In a statement, the Board acknowledged Mr. Elumelu’s contributions to the growth and reputation of the UBA Group. It noted that his period in office marked a significant phase of expansion, innovation, and institutional stability for the bank.

Under Mr. Elumelu’s leadership, UBA grew from a regional lender into a truly pan-African financial institution. The bank now operates in 20 African countries and maintains presence in 4 key global financial centres. Its customer base has also grown to over 50 million across retail, commercial and institutional segments.

The Board described the transition as part of its commitment to strong corporate governance and regulatory compliance, while ensuring continuity in strategy and leadership.

Mr. Nnorom comes into the role with more than four decades of experience in banking, finance, and audit. A chartered accountant by training, he has served on the UBA Board and brings deep knowledge of the bank’s operations, culture, and strategic direction.

Speaking on his exit, Mr. Tony O. Elumelu, CFR, expressed gratitude for the opportunity to lead the institution.
“Serving United Bank for Africa has been one of the great privileges of my career. UBA has established a unique competitive position, across Africa and globally, and I leave the Board with great confidence in UBA’s future. Emmanuel Nnorom is a leader of integrity, experience and sound judgement, and I am confident that the Bank will continue to thrive under his leadership,” he said.

In his acceptance remarks, the incoming Group Chairman, Mr. Emmanuel N. Nnorom, said he was honoured by the confidence reposed in him by the Board.
“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit. I look forward to working with my colleagues on the Board, Management and our staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers and stakeholders,” he stated.

United Bank for Africa Plc describes itself as Africa’s Global Bank. The Group operates in 20 African countries and also has offices in the United Kingdom, the United States, France and the United Arab Emirates. UBA offers retail, commercial and institutional banking services, with a strong focus on financial inclusion and digital innovation. The bank employs about 25,000 people group-wide and serves more than 50 million customers worldwide.