Elumelu stepped aside at UBA, Nnorom took over as Group Chairman

United Bank for Africa Plc has officially announced that Mr. Tony O. Elumelu, Chairman of UBA Group, will retire from the bank’s Board of Directors on August 21, 2026, following the completion of the 12-year term limit prescribed for Non-Executive Directors of the Bank by the Central Bank of Nigeria.

The bank in its statement noted that at a meeting held on July 6, 2026, the Board accepted Elumelu’s resignation and elected Mr. Emmanuel N. Nnorom, Non-Executive Director of the Bank, as his replacement, with effect from August 21, 2026.

The statement read in part, “The Board extends its deepest appreciation to Mr Elumelu for his visionary leadership and outstanding contribution to the strategic vision and institutional strength of the UBA Group.

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“Mr Elumelu’s tenure has been a defining chapter in the Group’s history.”

Nnorom is an accountant with over forty years of experience in banking, finance and auditing.

Commenting on his retirement, Elumelu said: “Serving United Bank for Africa has been one of the privileges of my career. UBA has built a unique competitive position, across Africa and globally, and I leave the Board with great confidence in UBA’s future.”