United Bank for Africa (UBA) Plc has announced the retirement of its Group Chairman, Tony O. Elumelu, effective August 21, 2026, following the completion of the 12-year tenure limit for non-executive directors of banks as prescribed by the Central Bank of Nigeria (CBN).

The announcement was made after the bank’s Board of Directors meeting held on July 6, 2026, where the board also approved the appointment of Emmanuel N. Nnorom, a Non-Executive Director of the bank, as the new Group Chairman. His appointment will take effect from August 21, 2026.

In a statement, the board expressed profound appreciation to Elumelu for his visionary leadership and significant contributions to the growth and transformation of the UBA Group.

According to the bank, Elumelu’s tenure marked a defining period in UBA’s history, during which the institution expanded into a leading pan-African financial services group with operations in 20 African countries and four global financial centres, serving more than 50 million customers.

Commenting on his retirement, Elumelu described his time at UBA as 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. 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.

The incoming chairman, Emmanuel Nnorom, is a chartered accountant with more than four decades of experience in banking, finance and auditing. UBA said he brings extensive leadership experience and deep institutional knowledge of the bank to his new role.

Reacting to his appointment, Nnorom expressed gratitude to the board for the confidence reposed in him.

“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 said.

UBA, widely known as Africa’s Global Bank, operates across 20 African countries as well as in the United Kingdom, the United States, France and the United Arab Emirates. The bank provides retail, commercial and institutional banking services, employs about 25,000 staff across its operations and serves over 50 million customers worldwide.