UBA Names Emmanuel Nnorom to Succeed Tony Elumelu as Chairman
UBA has appointed Emmanuel Nnorom to succeed Tony Elumelu as Group Chairman from 21 August 2026.
United Bank for Africa (UBA) will usher in a new leadership era when Tony Elumelu retires as Group Chairman on 21 August 2026 after completing the maximum tenure allowed under CBN guidelines.
The retirement follows the Central Bank of Nigeria’s corporate governance rules, which limit non-executive directors of commercial banks to 12 years in office. UBA confirmed that Emmanuel Nnorom, currently a Non-Executive Director, will become Group Chairman on the same date, ensuring a seamless leadership transition. The bank said its Board of Directors approved both decisions during a meeting held on 6 July 2026.
Over his 12-year tenure, Tony Elumelu led UBA through significant expansion, growing the bank’s footprint to 20 African countries while strengthening its presence in four global financial centres. During this period, UBA increased its customer base to more than 50 million across Africa and other markets. The bank also expanded its digital banking services and continued to support trade, investment and economic development.
The Board praised Elumelu’s leadership, stating, “The Board places on record its profound appreciation to Mr. Elumelu for his visionary leadership and exceptional contribution to the strategic vision and institutional strength of the UBA Group.” It added that he leaves behind a stronger institution with solid governance, greater operational resilience and a clear path for future growth.
Reflecting on his retirement, Elumelu said, “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 also described Emmanuel Nnorom as “a leader of integrity, experience, and sound judgement.”
A chartered accountant with more than 40 years of experience in banking, finance, auditing and corporate governance, Emmanuel Nnorom said he was honoured by the appointment and committed to building on the bank’s achievements. He pledged to work closely with the Board, management and employees to sustain UBA‘s growth and deliver long-term value for shareholders, customers and other stakeholders.
What impact do you think this leadership change could have on UBA‘s future growth across Africa?
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