United Bank for Africa (UBA) Plc has announced that its Chairman, Tony Elumelu, will retire on August 21, 2026. This comes ahead of his completion of the maximum 12-year tenure for non-executive directors as stipulated by the Central Bank of Nigeria (CBN).
Making the announcement in a statement, UBA stated that its Board of Directors accepted Elumelu’s retirement at a meeting held on July 6.
The bank also announced the appointment of Mr Emmanuel Nnorom, a non-executive director on the board, as the new Chairman, with effect from August 21.
Elumelu said, “UBA has established a unique competitive position across Africa and globally, and I leave the board with great confidence in the bank’s future.
I am confident that the bank will continue to thrive under his leadership.”
Emmanuel Nnorom added, “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 staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers and stakeholders.”
