United Bank for Africa Plc (UBA) has announced the retirement of its Group Chairman, Tony O. Elumelu, from the Board of Directors effective August 21, 2026.

The bank said Mr Elumelu’s retirement follows the completion of the 12-year tenure limit prescribed for Non-Executive Directors of banks by the Central Bank of Nigeria.

At a Board meeting held on July 6, 2026, UBA accepted Mr Elumelu’s retirement and elected Emmanuel N. Nnorom, a Non-Executive Director of the bank, as his successor.

The appointment takes effect on August 21, 2026.

UBA described Mr Elumelu’s tenure as a defining period in the bank’s history, crediting his leadership with helping transform the institution into a Pan-African financial group.

Under his leadership, UBA expanded its operations across 20 African countries and four global financial centres, serving more than 50 million customers worldwide.

The Board expressed appreciation to Mr Elumelu for his “visionary leadership and exceptional contribution” to the strategic direction and institutional growth of the group.

Mr Nnorom, who will take over as Chairman, is a chartered accountant with more than 40 years of experience in banking, finance and audit.

UBA said he brings extensive leadership experience and deep institutional knowledge to the role.

Commenting on his retirement, Mr Elumelu said serving UBA had been one of the greatest privileges of his career.

“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,” he said.

He added: “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.”

Mr Nnorom said he was honoured by the confidence the Board placed in him.

“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit,” he said.

“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.”

UBA operates across 20 African countries and in the United Kingdom, United States, France and the United Arab Emirates.

The bank provides retail, commercial and institutional banking services and employs about 25,000 people across its operations.